Multi-Tenant Industrial Flex
For Sale
Contact for pricing
1031-1051 Columbus Ave, Lemoyne, PA
Well-located industrial flex property with stable tenants and strong cashflow.
Property Size36,268 SF
Lot Size2.43 Acres
Price / SF$113.05
Days on Market269
Property Features for 1031-1051 Columbus Ave
General Information
Standard status
Active
Size
36,268 SF
Lot size
2.43 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Landmark Commercial Realty
(717) 979-5619
Listed By:
Chuck Heller
(717) 979-5619
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Aug 8
Last Checked: Aug 20 at 7:36AM
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 Landmark Commercial Realty
Investment Insights
Based on property information with market context.
This multi-tenanted industrial flex property is located in Cumberland County, Pennsylvania, a block away from Interstate 83 (Lemoyne exit). The property benefits from a central West Shore Harrisburg location and regional accessibility, with connections to I-83, PA Turnpike (I-76), PA Route 581, US Route 15, US Route 11 and I-81. The site is positioned to serve the greater Central Pennsylvania market. The property has a history of cash flow with three tenants with varying NNN lease terms. The facility offers visibility to the 44,800 vehicles per day along Route 581, and includes a sign for one of the tenants. The property is a versatile, well-maintained industrial flex facility featuring functional efficient office space for each suite, and a variety of loading positions. Zoned “Commercial General,” the site allows for a variety of permitted uses including industrial and commercial, offering long-term flexibility and value. The property has 36268 square feet of space.
Key Highlights
- Prime location one block from I‑83 with exceptional access to major transportation corridors (I‑83, I‑76/PA Turnpike, Rte 581, I‑81 & RTE 11) serving the Central Pennsylvania market.
- Stable, multi‑tenant property with strong historical cash flow and varying NNN lease terms, providing a secure and reliable income stream.
- High visibility with ±44,800 vehicles per day on Route 581, including a prominent "billboard size" sign.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$203,930
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,078,600
$4.1M
Cap Rate 7%
$2,913,286
$2.9M
Cap Rate 9%
$2,265,889
$2.3M
Market Conditions
NOI Build-Up for 36,268 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$305.4K $8.42/SF
− Vacancy
−$14.0K −$0.39/SF
EGI
$291.3K $8.03/SF
− OpEx
−$87.4K −$2.41/SF
NOI
$203.9K $5.62/SF
Area
Cumberland County, PA
Vacancy
4.60%
Lease Rate
$8.42 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,078,600
Cap Rate 7%
$2,913,286
Cap Rate 9%
$2,265,889
Alternative Uses
Best Use
Industrial
$2.91M
$2.55M – $3.40M
NOI $203,930 @ 7.0% cap · market cap 4.97%
Second Best
Flex RnD
$2.67M
$2.34M – $3.12M
NOI $186,934 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$8.42M
$7.37M – $9.83M
NOI $589,735 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Well-located industrial flex property with stable tenants and strong cashflow.
Where is this flex space located?
The property is located at 1031-1051 Columbus Ave Lemoyne, PA.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: Prime location one block from I‑83 with exceptional access to major transportation corridors (I‑83, I‑76/PA Turnpike, Rte 581, I‑81 & RTE 11) serving the Central Pennsylvania market.; Stable, multi‑tenant property with strong historical cash flow and varying NNN lease terms, providing a secure and reliable income stream.; High visibility with ±44,800 vehicles per day on Route 581, including a prominent "billboard size" sign.
