Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    250 S Cherry Aly Elizabethtown, PA 17022

    Sponsored
    For Sale
    $395,000

    Commercial Sale - ELIZABETHTOWN, PA

    Type:Retail
    Property size:
    2,683 SF
    Lot size:
    0.16 Acres
    Days on Market:
    3
    Last Refresh:
    Feb 5 at 12:06 am

    Property Features for 250 S Cherry Aly

    General Information

    Property type
    Other
    Property subtype
    Retail
    Standard status
    Active
    Parking
    8
    Size
    2,683 SF
    Lot size
    0.16 Acres

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1960
    Building materials
    Brick, Masonry

    We can help!

    Listing Contact
    Joshua Miller

    Bennett Williams Realty, Inc. (717) 843-5555

    Listing agent Joshua Miller (717) 383-6647 License #RS365967

    Listing date Feb 3, 2026

    MLS# PALA2063494

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Elizabethtown Freestanding Commercial Building For Sale

    This commercial property in Elizabethtown, PA, presents an investment opportunity with a freestanding building of approximately 2,683 square feet. Approximately 1,300 square feet of the building is suitable for a partial owner-occupant or an additional tenant. The property, located at 250 S. Cherry Alley, features a new roof and sealant installed in 2022, which comes with a 10-year warranty. The building is anchored by a Papa John's Pizza tenant under a renewed five-year lease that includes two additional five-year options. The franchisee is one of the largest in the Papa John's system. The property is zoned for Central Business District use and operates under a triple net lease structure with a 10% rent increase after the initial term. The lot size is 0.16 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elizabethtown
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.60291
    Latitude
    40.14792

    Nearby Similar for Sale

    • $549,900
      0.48 Acres

      Commercial Space on Busy Route 743

      Commercial space suitable for medical offices, retail, or storage.
      915 N Hanover St, Elizabethtown, PA 17022
      View Details
    • $549,900

      Versatile Commercial Space on Rt. 743

      Adaptable commercial building with production, office, and storage areas.
      915 N Hanover St, Elizabethtown, PA 17022
      View Details
    • $335,000

      Spacious Townhome with Wooded Views

      Well-maintained townhome near Elizabethtown College with over 2,400 sq. ft.
      9 Shybrook Ct, Elizabethtown, PA 17022
      View Details
    • $1,095,000
      16,178 SF

      Lakefront Jungle Lodge Resort

      Unique lakefront resort with development potential on 31 acres.
      Peninsula Zacpeten Ixlu Flores Peten, Elizabethtown, PA 17022
      View Details
    • $2,800,080
      6,816 SF

      New AutoZone Investment Property

      New construction AutoZone in Elizabethtown, PA for sale.
      1235 S Market St, Elizabethtown, PA 17022
      View Details
    • Contact for pricing
      3,102 SF

      Retail Space in Elizabethtown Center

      Retail space available in a centrally located shopping center.
      1605 South Market St, Elizabethtown, PA 17022
      View Details
    • $123,900
      1,568 SF

      Spacious Home in Oak Knoll

      Three-bedroom, two-bath home with bonus room in pet-friendly community.
      31 Oak Knoll Est, Elizabethtown, PA 17022
      View Details
    • $395,000

      Freestanding Building in Elizabethtown, PA

      Freestanding building with renewed lease and parking in Elizabethtown.
      250 S Cherry Aly, Elizabethtown, PA 17022
      View Details
    • $1,150,000
      5,752 SF

      Elizabethtown Freestanding Commercial Building

      Freestanding garage/commercial building in Elizabethtown's retail corridor.
      1579 S Market St, Elizabethtown, PA 17022
      View Details
    • $359,900
      1,739 SF

      Well-Maintained Elizabethtown Home with Creek

      Move-in ready Elizabethtown home featuring a serene creek view.
      1 Pfautz Cir, Elizabethtown, PA 17022
      View Details
    • $269,000
      2,826 SF

      Elizabethtown Duplex: Investment Opportunity

      Two-unit property in Elizabethtown, each unit featuring two bedrooms.
      331 W High St, Elizabethtown, PA 17022
      View Details
    • Contact for pricing

      Industrial Outdoor Storage Site

      Fully leased industrial outdoor storage site near major routes.
      35 Industrial Rd, Elizabethtown, PA 17022
      View Details

    FAQs

    What type of property is this?
    Turn key restaurant - Freestanding building with strong tenant in Elizabethtown, PA.
    Where is this turn key restaurant located?
    The property is located at 250 S Cherry Aly Elizabethtown, PA.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: - Strong Papa John's tenant with renewed five-year lease and two five-year options, providing stable income.; - Freestanding building in Elizabethtown, Lancaster County, a rare find at this price point.; - New roof and sealant installed in 2022 with a 10-year warranty.
    (717) 383-6647
    Request Owner's contact information
    250 S Cherry Aly Elizabethtown, PA 17022
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    250 S Cherry Aly
    Elizabethtown, PA 17022
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    250 S Cherry Aly Elizabethtown, PA 17022
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Joshua Miller
    Real Estate License ID: RS365967
    (717) 383-6647
    Learn more
    Google sign-in failed. Please try again or use another login method.