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    1135 E Chocolate Ave Hershey, PA 17033

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    For Lease
    Contact for pricing

    Office suites available in Hershey with flexible lease terms.

    Type:Office
    Property size:
    6,000 SF
    Added:
    Aug 24, 2022
    Days on Market:
    1335
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 1135 E Chocolate Ave

    General Information

    Standard status
    Active
    Size
    6,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    1973

    Spaces For Lease

    at 1135 E Chocolate Ave Contact us

    First Floor #103 $1.63 /Mo

    Size
    1,500 SF
    Type
    Office
    Contact us

    First Floor #100-100A $21 /Mo

    Size
    Type
    Office
    First office inside front lobby doors. Prime office suite location.
    Contact us

    2nd Floor $1.63 /Mo

    Size
    Type
    Office
    Contact us

    3rd Floor Suites $1.63 /Mo

    Size
    Type
    Office
    Several suites available from 200 sf up to 5,000 sf. Landlord will assist with suite...
    show more
    Contact us

    We can help!

    Listing Contact
    Todd Decker

    Listing agent Todd Decker License #PA RS296210

    Listing office Realty Management Associates LLC

    Listing date Aug 24, 2022

    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 Realty Management Associates LLC

    Overview

    Hershey Office Suites for Rent

    Office suites ranging from 1,500 to 6,000 square feet are available for rent. Small offices are available with flexible lease terms. Ample parking is provided, and card access is available after normal business hours. The building offers opportunities for both small and larger end users, with space available on all floors. Tenants can select a location with views of the Hershey Country Club's hole 6 or open land. The landlord will work with new tenants to prepare an office space plan and assist with completing the build-out needed for move-in. The $19.50 per square foot gross lease allows tenants to accurately know their monthly lease costs with no unexpected fees, CAM charges, or utility expenses. Hershey's Palmdale Mixed Use zoning allows for various uses, including office, professional, financial, health care, call center, and retail. The location has a Hershey address, ample parking, easy access, and is located on Route 322 for easy access from all directions.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Emergency Dental Dental Office Team Becker Realtors ... Real Estate Agency East Chocolate Plaza Business Service Center New Direction Mediation ... Mediation Service Hershey Partnership, Hershey ... Business Service Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Hershey
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.625244
    Latitude
    40.295444

    Nearby Similar for Lease

    • Contact for pricing

      Hershey Medical Office For Lease

      3,750 SF medical office space available in Hershey, PA.
      867 Fishburn Rd, Hershey, PA 17033
      View Details
    • Contact for pricing

      Hershey Medical Office Space Available

      Modern medical/professional space for lease near Penn State Hershey.
      32 Northeast Dr, Hershey, PA 17033
      View Details

    FAQs

    What type of property is this?
    Office building - Office suites available in Hershey with flexible lease terms.
    Where is this office building located?
    The property is located at 1135 E Chocolate Ave Hershey, PA.
    What are key features of this property?
    This property features: Gross lease at $19.50/sf includes all fees, CAM charges, and utilities for predictable monthly costs.; Flexible lease terms and suite sizes ranging from 1,500 sf to 6,000 sf to accommodate various business needs.; Prime location on Rt. 322 with a Hershey address, offering easy access from all directions.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Todd Decker
    Real Estate License ID: PA RS296210
    Learn More
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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.

    More about this property
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