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    915 N Hanover St Elizabethtown, PA 17022

    View on Map
    Sponsored
    For Sale
    $525,000

    Commercial Sale - ELIZABETHTOWN, PA

    Type:Retail
    Property size:
    8,500 SF
    Lot size:
    0.48 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 21 at 5:06 pm

    Property Features for 915 N Hanover St

    General Information

    Property type
    Other
    Property subtype
    Retail
    Standard status
    Active
    Parking
    38
    Parking features
    Parking Lot
    Size
    8,500 SF
    Lot size
    0.48 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air, Window Unit(s)

    Building Details

    Year built
    1951
    Building materials
    Frame

    We can help!

    Listing Contact
    Ken Kirchoff
    Ken Kirchoff

    Berkshire Hathaway HomeServices Homesale Realty

    Listing agent Ken Kirchoff License #RS287964

    Listing date Mar 19, 2026

    MLS# PALA2073074

    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

    Commercial Space on Busy Route

    This commercial space is located along a busy route and features an ADA-accessible main entrance leading into a large waiting room and reception area. The layout includes six patient rooms, most equipped with sinks, along with administrative spaces comprising large rooms and private offices. The rear section of the building contains three large production rooms and two smaller production rooms, all with windows. There are four restrooms on the main level, which totals approximately 8,500 square feet. A second story serves as a large break room with a kitchenette. The lower level, accessible via two staircases and three exterior grade-level doors, is dedicated to production and storage space, offering many large rooms previously used for production, product storage, and file storage. One restroom is located on this level. A covered entrance on the parking lot side presents the possibility of adding a drive-in door. The building features a roof replaced within the last three years, ample power including 3-phase electric, gas heat, central air in the office and administrative areas, and public water and sewer. Originally a residence, the property was converted and expanded for commercial use. Zoned C-2 "General Commercial District" in Mount Joy Township, the property is suitable for various uses, including medical offices, retail, and storage. It could also accommodate a grocery store or mixed-use retail.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabethtown
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.60811615
    Latitude
    40.1641922

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    FAQs

    What type of property is this?
    Retail space - Commercial space suitable for medical, retail, or storage purposes.
    Where is this retail space located?
    The property is located at 915 N Hanover St Elizabethtown, PA.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: - High-traffic location on Rt. 743 with C-2 zoning, suitable for diverse commercial uses.; - Large 8,500 sq ft main level featuring a reception area, multiple patient/production rooms, administrative space, and restrooms.; - Significant production and storage space in the lower level with multiple rooms and exterior access.
    (717) 286-9714
    Request Owner's contact information
    915 N Hanover St Elizabethtown, PA 17022
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    Elizabethtown, PA 17022
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    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
    915 N Hanover St Elizabethtown, PA 17022
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    Listing Contact
    Ken Kirchoff
    Ken Kirchoff
    Real Estate License ID: RS287964
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