Wedding Venue with Event
New
For Sale
$2,599,000
1032 Buchanan Trail East, Greencastle, PA 17225
Community Commercial zoning supports event, residential, storage, restaurant, retail, and professional office uses.
Property Size12,600 SF
Price / SF$206.27
Days on Market6
Property Features for 1032 Buchanan Trail East
General Information
Standard status
Active
Size
12,600 SF
Building Details
Year Built
1900
Listing Agency:
Hurley Real Estate & Auctions
Listed By:
Kaleb M Hurley · License #RM421467
Source:
Localrealestateleaders
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 29 at 12:25PM
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 Hurley Real Estate & Auctions
Investment Insights
Based on property information with market context.
This 42+ acre Community Commercial property includes an established wedding and event venue, a renovated dairy barn with original hardwood floors, modern amenities, and extensive decking. The grounds feature landscaped gardens, water features, a pergola, walkways, and mountain views. Improvements also include a 4BR farmhouse, garage, and more than 2 acres of paved parking, along with event equipment, marketing assets, vendor lists, a website, and transferable event contracts where applicable.
The property is located at 1032 Buchanan Trail East near Route 16 and I-81 PA Exit 5. Public sewer is available, and the zoning supports event centers, townhomes, single-family and multifamily housing, self-storage, restaurants, retail, and professional offices.
The property is located at 1032 Buchanan Trail East near Route 16 and I-81 PA Exit 5. Public sewer is available, and the zoning supports event centers, townhomes, single-family and multifamily housing, self-storage, restaurants, retail, and professional offices.
Key Highlights
- 42+ acres zoned Community Commercial
- Renovated dairy barn with original hardwood floors, modern amenities, and extensive decking
- Established event venue with gardens, water features, pergola, walkways, and mountain views
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
$124,740
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
4.80%
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%
$2,494,800
$2.5M
Cap Rate 7%
$1,782,000
$1.8M
Cap Rate 9%
$1,386,000
$1.4M
Market Conditions
NOI Build-Up for 12,600 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
$226.8K $18.00/SF
− Vacancy
−$27.2K −$2.16/SF
EGI
$199.6K $15.84/SF
− OpEx
−$74.8K −$5.94/SF
NOI
$124.7K $9.90/SF
Area
Franklin County, PA
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,494,800
Cap Rate 7%
$1,782,000
Cap Rate 9%
$1,386,000
Alternative Uses
Best Use
Mixed Use
$1.78M
$1.56M – $2.08M
NOI $124,740 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.06M
$2.67M – $3.56M
NOI $213,857 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 17225, PA
20,199
Population
8,132
Households
2.5
Avg Household Size
42
Median Age
25%
College-Educated
92%
High-School Grad
81.8 sq mi
ZIP Area
247
Density / Sq Mi
$87,245
Median Household Income
$46,317
Median Earnings
$969
Median Rent
$266,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Wedding venue - Community Commercial zoning supports event, residential, storage, restaurant, retail, and professional office uses.
Where is this wedding venue located?
The property is located at 1032 Buchanan Trail East Greencastle, PA.
What is the asking price?
The asking price for this property is $2,599,000.
What are key features of this property?
This property features: 42+ acres zoned Community Commercial; Renovated dairy barn with original hardwood floors, modern amenities, and extensive decking; Established event venue with gardens, water features, pergola, walkways, and mountain views
