Freestanding Bank Building with
For Sale
Contact for pricing
1091 EICHELBERGER ST, Hanover, PA 17331
Former bank building with drive-through capability, suited for retail or office users seeking a stand-alone site in Hanover.
Property Size3,630 SF
Price / SF$219.01
Days on Market106
Property Features for 1091 EICHELBERGER ST
General Information
Standard status
Active
Size
3,630 SF
Property subtype
Retail
Lease Type
NNN
Building Details
Year Built
2008
Units
1
Listing Agency:
Bennett Williams Commercial
Listed By:
Chad Stine · License #PA RS223285L
(717) 843-5555
Source:
Crexi
Added: Jun 4
Changed: Sep 8
Last Checked: Sep 16 at 1:11PM
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
Investment Insights
Based on property information with market context.
1091 Eichelberger is a former, free-standing bank building in Hanover with drive-through capability. The property totals 3,872 square feet and is offered for sale as a purpose-built commercial structure that can be adapted for either retail or office use, depending on the tenant’s layout requirements.
The building is located off Route 94 in the heart of Hanover’s business hub. The surrounding commercial area includes major retailers such as Rural King, Target, Lowe’s, Home Depot, Grocery Outlet, and Sam’s Club, supporting a retail-forward environment.
This site is a practical fit for an owner-operator or investor seeking a freestanding facility with direct drive-through functionality. For retail or office users, the existing bank configuration and dedicated access point can provide a starting point for repositioning into a customer-facing business or service-oriented workspace. The property’s independent footprint also supports signage and brand presence without shared common entrances, subject to permitting and any required site plan approvals.
The building is located off Route 94 in the heart of Hanover’s business hub. The surrounding commercial area includes major retailers such as Rural King, Target, Lowe’s, Home Depot, Grocery Outlet, and Sam’s Club, supporting a retail-forward environment.
This site is a practical fit for an owner-operator or investor seeking a freestanding facility with direct drive-through functionality. For retail or office users, the existing bank configuration and dedicated access point can provide a starting point for repositioning into a customer-facing business or service-oriented workspace. The property’s independent footprint also supports signage and brand presence without shared common entrances, subject to permitting and any required site plan approvals.
Key Highlights
- Former free‑standing bank building built in 2008
- Drive‑through capability for convenient customer access
- 3,872 SF building suited for retail or office use
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
$57,873
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
7.28%
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%
$1,157,460
$1.2M
Cap Rate 7%
$826,757
$826.8K
Cap Rate 9%
$643,033
$643.0K
Market Conditions
NOI Build-Up for 3,630 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
$79.7K $21.96/SF
− Vacancy
−$2.6K −$0.70/SF
EGI
$77.2K $21.26/SF
− OpEx
−$19.3K −$5.31/SF
NOI
$57.9K $15.94/SF
Area
York County, PA
Vacancy
3.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,157,460
Cap Rate 7%
$826,757
Cap Rate 9%
$643,033
Alternative Uses
Best Use
Office B
$826.8K
$723.4K – $964.6K
NOI $57,873 @ 7.0% cap · market cap 7.28%
Second Best
Retail
$618.8K
$541.4K – $721.9K
NOI $43,314 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$1.05M
$919.6K – $1.23M
NOI $73,571 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
Explore this area
Business Placement
Demographics for 17331, PA
55,458
Population
23,528
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
90%
High-School Grad
74.4 sq mi
ZIP Area
745
Density / Sq Mi
$76,661
Median Household Income
$45,168
Median Earnings
$1,127
Median Rent
$228,700
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Bank - Former bank building with drive-through capability, suited for retail or office users seeking a stand-alone site in Hanover.
Where is this bank located?
The property is located at 1091 EICHELBERGER ST Hanover, PA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Former free‑standing bank building built in 2008; Drive‑through capability for convenient customer access; 3,872 SF building suited for retail or office use
