Office Units with Conference
For Sale
$800,000
1137 KENNEBEC Drive, Chambersburg, PA 17201
Commercial Sale, CHAMBERSBURG, PA
Property Size4,990 SF
Lot Size0.75 Acres
Price / SF$160.32
Days on Market142
Property Features for 1137 KENNEBEC Drive
General Information
Property type
Other
Property subtype
Office
Parking
35
Parking features
Parking Lot, Offsite, On Street
Subdivision
KENNEBEC
Elementary school district
CHAMBERSBURG AREA
Middle school district
CHAMBERSBURG AREA
High school district
CHAMBERSBURG AREA
Standard status
Active
Lot size
0.75 Acres
Taxes and HOA fees
Tax Annual Amount
18489
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Amenities
conference rooms
kitchen/breakroom
reception
Building Details
Year built
1990
Building materials
Brick
Listing Agency:
Keller Williams Keystone Realty · Keller Williams Realty
(717) 504-8002
Listed By:
Lane I Thrush · License #RM423221
(717) 816-4011
Added: Apr 23
Changed: Sep 5
Last Checked: Sep 11 at 6:06PM
MLS# PAFL2034274
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,390-square-foot office property includes an additional 600 square feet of garage or storage area. The current layout features over 10 private offices, two conference rooms, a kitchen and breakroom, and a front foyer with reception space. The configuration supports immediate office use while allowing future adjustments to the interior arrangement.
The 0.75-acre property provides 35+ on-site parking spaces, with additional parking options identified as offsite and on-street. Built in 1990, the brick building is equipped with central air conditioning and heat pump heating. The property is positioned near major highways, restaurants, and other local businesses in Chambersburg, Pennsylvania.
The 0.75-acre property provides 35+ on-site parking spaces, with additional parking options identified as offsite and on-street. Built in 1990, the brick building is equipped with central air conditioning and heat pump heating. The property is positioned near major highways, restaurants, and other local businesses in Chambersburg, Pennsylvania.
Key Highlights
- 4,390 square feet of office space
- Additional 600 square feet of garage or storage area
- Over 10 private offices and two conference rooms
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
$61,500
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
7.69%
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%
$1,230,000
$1.2M
Cap Rate 7%
$878,571
$878.6K
Cap Rate 9%
$683,333
$683.3K
Market Conditions
NOI Build-Up for 4,990 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
$100.0K $20.04/SF
− Vacancy
−$18.0K −$3.61/SF
EGI
$82.0K $16.43/SF
− OpEx
−$20.5K −$4.11/SF
NOI
$61.5K $12.32/SF
Area
Franklin County, PA
Vacancy
18.00%
Lease Rate
$20.04 /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%
$1,230,000
Cap Rate 7%
$878,571
Cap Rate 9%
$683,333
Alternative Uses
Best Use
Office B
$878.6K
$768.8K – $1.03M
NOI $61,500 @ 7.0% cap · market cap 7.69%
Second Best
Flex RnD
$498.6K
$436.3K – $581.8K
NOI $34,905 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,694 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Explore this area
Business Placement
Demographics for 17201, PA
27,556
Population
12,749
Households
2.2
Avg Household Size
39
Median Age
28%
College-Educated
91%
High-School Grad
19.1 sq mi
ZIP Area
1,443
Density / Sq Mi
$59,645
Median Household Income
$42,500
Median Earnings
$1,109
Median Rent
$206,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Office units - Brick office property with private offices, meeting rooms, reception, breakroom space, and dedicated on-site parking.
Where is this office units located?
The property is located at 1137 KENNEBEC Drive Chambersburg, PA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 4,390 square feet of office space; Additional 600 square feet of garage or storage area; Over 10 private offices and two conference rooms
