Free Standing Retail
For Sale
Contact for pricing
1133 Baltimore St, Hanover, PA 17331
2,530 SF retail building in Hanover, Pennsylvania.
Property Size2,530 SF
Price / SF$296.44
Days on Market1218
Property Features for 1133 Baltimore St
General Information
Standard status
Active
Size
2,530 SF
Property subtype
Retail
Lease Type
NNN
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Bennett Williams Commercial
(717) 843-5555
Listed By:
Jimmy Moniz · License #RS375470
Source:
Crexi
Added: May 3, 2023
Changed: Aug 23
Last Checked: Sep 1 at 12:20AM
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.
The property at 1133 Baltimore Street is a 2,530 square-foot free-standing retail building located on the south side of Hanover, Pennsylvania, along Baltimore Street, which sees 16,000 vehicles per day. The property is near national retailers, including Walmart, Giant, Wendy’s, Weis Markets, Starbucks, and MedExpress.
Key Highlights
- High traffic location: 16,000 vehicles per day (VPD) on Baltimore Street.
- Free‑standing retail building with 2,530 square feet.
- Proximity to national retailers: Walmart, Giant, Wendy’s, Weis Markets, Starbucks, and MedExpress.
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
$30,188
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
4.03%
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%
$603,760
$603.8K
Cap Rate 7%
$431,257
$431.3K
Cap Rate 9%
$335,422
$335.4K
Market Conditions
NOI Build-Up for 2,530 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
$45.5K $18.00/SF
− Vacancy
−$2.4K −$0.95/SF
EGI
$43.1K $17.05/SF
− OpEx
−$12.9K −$5.11/SF
NOI
$30.2K $11.93/SF
Area
York County, PA
Vacancy
5.30%
Lease Rate
$18.00 /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%
$603,760
Cap Rate 7%
$431,257
Cap Rate 9%
$335,422
Alternative Uses
Best Use
Retail
$431.3K
$377.4K – $503.1K
NOI $30,188 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$732.5K
$641.0K – $854.6K
NOI $51,277 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
174k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 38%
Groceries 19%
Beauty & Spa 2%
McDonald's
Dining
30,816 visits/mo
0.4 miles
Weis Markets
Groceries
26,910 visits/mo
0.4 miles
Rutters
Shops & Services
24,856 visits/mo
0.2 miles
Ollie's Bargain Outlet
Shops & Services
16,903 visits/mo
0.3 miles
Starbucks
Dining
14,909 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Poppies & Sweet Peas Inside Red Barn Boutique — 805 Baltimore St Suite 313, Hanover, PA 17331
Frequently Asked Questions
What type of property is this?
Storefront property - 2,530 SF retail building in Hanover, Pennsylvania.
Where is this storefront property located?
The property is located at 1133 Baltimore St Hanover, PA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: High traffic location: 16,000 vehicles per day (VPD) on Baltimore Street.; Free‑standing retail building with 2,530 square feet.; Proximity to national retailers: Walmart, Giant, Wendy’s, Weis Markets, Starbucks, and MedExpress.
