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Office Medical

The Beltway Commons

426 Airport Rd, Hazle Township, PA 18202

Listing Price: $6,150,000

Cap Rate
8.74%
Gross SF
49,000
Rentable SF
40,587
Price/Gross SF
$125.51
Occupancy
93.6%
Year Built
1988
Lot Size
7.45 acres

Investment Overview

Marcus & Millichap is pleased to exclusively present a rare opportunity to acquire a strategically located, high-performing medical office asset in the rapidly expanding Greater Hazleton market of Pennsylvania. Institutional-quality medical office investment with strong in-place tenancy, significant value-add potential, and long-term growth driven by one of Pennsylvania’s fastest-growing healthcare and industrial corridors. Anchored by Geisinger, one of Pennsylvania’s premier healthcare providers. The property combines institutional-quality tenancy with significant upside potential through rental growth, operational efficiencies, and future development opportunities.
Positioned at the intersection of Interstate 81 and Interstate 80, the asset benefits from exceptional regional accessibility, drawing patients and tenants from across Northeast and Central Pennsylvania. The surrounding Hazleton market is experiencing accelerating population growth, evidenced by substantial school district expansion and a pipeline of over 20 million square feet of industrial development, further driving demand for healthcare and service-based real estate.
The property offers investors a dual-income growth profile: stable cash flow from established tenants with significant capital invested in their spaces, and a clear pathway to increase NOI through rent increases, space optimization, and land monetization. With 7.45 acres of land, the site provides a rare opportunity for future development or subdivision, allowing investors to unlock additional value beyond the existing improvements.

Investment Highlights

  • Anchored by Geisinger, a leading regional healthcare system. Tenant has invested $3–4M into buildout. Top-performing clinic in the region. Urgent care included in location - (7 days/week).
  • Additional tenants with multiple locations (healthcare operators - low relocation risk). In-place rents below market. Upcoming lease expirations provide near NOI upside. Ability to restructure leases.
  • Value-Add, through Space Optimization. 49,000/SF - GBA vs. 40,587/SF - RBA. Opportunity to reduce common areas, increase rentable square footage, add new tenants.
  • Rapid population growth in Hazelton. School district expansion: 11,500 students (2020) ? 14,000 (2026). Among the fastest-growing districts in Pennsylvania.
  • Land Value & Development Upside. Potential to - subdivide excess land, develop additional medical or retail buildings, monetize surplus land for future sale. B-2 General Commercial zoning.
  • Massive Industrial Pipeline in Greater Hazelton. 20M+ SF of planned industrial/logistics development. Major projects bringing: jobs, population growth, increased healthcare utilization.

Exclusively Listed By

Office Medical

The Beltway Commons

Listing Price: $6,150,000

Cap Rate
8.74%
Gross SF
49,000
Rentable SF
40,587
Price/Gross SF
$125.51
Occupancy
93.6%
Year Built
1988
Lot Size
7.45 acres

Investment Highlights

  • Anchored by Geisinger, a leading regional healthcare system. Tenant has invested $3–4M into buildout. Top-performing clinic in the region. Urgent care included in location - (7 days/week).
  • Additional tenants with multiple locations (healthcare operators - low relocation risk). In-place rents below market. Upcoming lease expirations provide near NOI upside. Ability to restructure leases.
  • Value-Add, through Space Optimization. 49,000/SF - GBA vs. 40,587/SF - RBA. Opportunity to reduce common areas, increase rentable square footage, add new tenants.
  • Rapid population growth in Hazelton. School district expansion: 11,500 students (2020) ? 14,000 (2026). Among the fastest-growing districts in Pennsylvania.
  • Land Value & Development Upside. Potential to - subdivide excess land, develop additional medical or retail buildings, monetize surplus land for future sale. B-2 General Commercial zoning.
  • Massive Industrial Pipeline in Greater Hazelton. 20M+ SF of planned industrial/logistics development. Major projects bringing: jobs, population growth, increased healthcare utilization.

Investment Overview

Marcus & Millichap is pleased to exclusively present a rare opportunity to acquire a strategically located, high-performing medical office asset in the rapidly expanding Greater Hazleton market of Pennsylvania. Institutional-quality medical office investment with strong in-place tenancy, significant value-add potential, and long-term growth driven by one of Pennsylvania’s fastest-growing healthcare and industrial corridors. Anchored by Geisinger, one of Pennsylvania’s premier healthcare providers. The property combines institutional-quality tenancy with significant upside potential through rental growth, operational efficiencies, and future development opportunities. Positioned at the intersection of Interstate 81 and Interstate 80, the asset benefits from exceptional regional accessibility, drawing patients and tenants from across Northeast and Central Pennsylvania. The surrounding Hazleton market is experiencing accelerating population growth, evidenced by substantial school district expansion and a pipeline of over 20 million square feet of industrial development, further driving demand for healthcare and service-based real estate. The property offers investors a dual-income growth profile: stable cash flow from established tenants with significant capital invested in their spaces, and a clear pathway to increase NOI through rent increases, space optimization, and land monetization. With 7.45 acres of land, the site provides a rare opportunity for future development or subdivision, allowing investors to unlock additional value beyond the existing improvements.

Exclusively Listed By

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