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    Prime Retail Location in Hanover Title is generated by Realmo AI

    1000 Carlisle St, Hanover, PA 17331

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    Community shopping center with high visibility and traffic.

    Type:Retail, Office, Restaurant
    Property size:
    167,392 SF
    Added:
    Dec 5, 2018
    Days on Market:
    2739
    Last Refresh:
    May 19 at 10:59 pm

    Property Features for 1000 Carlisle St

    General Information

    Standard status
    Active
    Size
    167,392 SF
    Property subtype
    Retail, Office, Restaurant

    Spaces For Lease

    at 1000 Carlisle St Contact us

    We can help!

    Listing Contact
    Keith Kahlbaugh
    Keith Kahlbaugh

    Listing agent Keith Kahlbaugh License #Pennsylvania AB067648

    Listing office Bennett Williams Commercial

    Listing date Dec 5, 2018

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Bennett Williams Commercial

    HighLights

    • High‑traffic location on Route 94/Carlisle Street with 22,000 vehicles per day.
    • Strong demographics with a large population and high average household income within a 20‑minute drive.
    • Competitive lease rates at $15.00 per square foot annually, plus $4.00 NNN.
    • Prominent digital billboard available for tenant advertising.
    • Ample parking and multiple points of access for customer convenience.
    • Located in a growing area with a 20.8% population increase since 2000.

    Overview

    Clearview Shopping Center is a 167,392-square-foot community shopping center located along Route 94/Carlisle Street in Hanover's shopping district. The center is locally owned and professionally managed, providing ample parking and multiple access points. Benefiting from high exposure and a prominent digital billboard, the center experiences an average of 22,000 vehicles per day. A 10’ x 20’ digital billboard is located at the main entrance, offering tenants the opportunity to advertise their business on this display for a monthly fee. Several suites with frontage are available for lease. Lease rates for the suite to the rear of the center are negotiable. The surrounding area has a favorable demographic profile. The shopping center benefits from the region’s diverse population, which includes a significant number of households. Its proximity to the Maryland state line provides access to a broader customer base. Within a 20-minute drive of the center, the population exceeds 100,000 people with household incomes averaging more than $98,000. This demographic includes a daytime employment base of 32,872 individuals. Within a 10-mile radius, the population reaches 123,406 people across 49,201 households. The local labor force stands at 36,369, with an average household income of $102,737. The population has increased by 20.8% since 2000, with over 6,459 new homes built. Clearview Shopping Center offers businesses a market to reach a diverse and affluent customer base.
    Property Profile Location Intelligence

    Current Use by Public Records

    Antique & Estate Jewelers (Bike/Boat/Book/etc) Store Subway Take-out & Catering Chinatown Kitchen Restaurant Always Dancing LLC Training Center Joelle L Shirk ... Counselor

    Suggested Use

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

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

    Similar Places Nearby

    • Clearview Shopping Center — 1000 Carlisle St, Hanover, PA 17331
    • North Point Plaza Shopping Center — 1150 Carlisle St, Hanover, PA 17331
    • Stonegate Square Shopping Center — 1010 Eichelberger St, Hanover, PA 17331
    • North Hanover Mall — 1155 Carlisle St, Hanover, PA 17331
    • North Point Plaza — 1150 carlisle st, hanover, pa 17331

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    York
    State
    Pennsylvania
    Longitude
    -76.994985
    Latitude
    39.816969

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    FAQs

    What type of property is this?
    Shopping center - Community shopping center with high visibility and traffic.
    Where is this shopping center located?
    The property is located at 1000 Carlisle St Hanover, PA.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: High‑traffic location on Route 94/Carlisle Street with 22,000 vehicles per day.; Strong demographics with a large population and high average household income within a 20‑minute drive.; Competitive lease rates at $15.00 per square foot annually, plus $4.00 NNN.
    (717) 843-5555 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Keith Kahlbaugh
    Keith Kahlbaugh
    Real Estate License ID: Pennsylvania AB067648
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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.

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