Planet Fitness Anchored Retail
1186 Walnut Bottom Road Carlisle, PA 17015
1186 Walnut Bottom Road, Carlisle, PA, 17015
$3,695,000
For Sale
$3,695,000
NNN leased retail center anchored by Planet Fitness and UPMC.
Property Size23,584 SF
Price / SF$156.67
Days on Market301
Property Features for 1186 Walnut Bottom Road
General Information
- Standard status
- Active
- Size
- 23,584 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1997
Listing agency
Landmark Commercial Realty
(717) 421-1943
Listed by
Jason Grace, CCIM, SIOR · License #PA #AB065863
(717) 421-1943
Source
Tcnworldwide
Added: Sep 25, 2025 Updated: Jul 6 at 8:14AM Checked: Jul 22 at 5:04AM
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 Landmark Commercial Realty
Investment Insights
Based on property information with market context.
This 23,584 square foot retail center is anchored by Planet Fitness and UPMC Central Pennsylvania Surgical Associates. Located in Carlisle, PA, within the Walnut Bottom Towne Center, the property sits adjacent to a 128,000 square foot U-Haul Rental Retail & Self Storage Center. The location is along the Interstate I-81 highway corridor. Planet Fitness, occupying approximately 18,000 square feet, recently exercised a five-year lease extension through late 2027. UPMC Central Pennsylvania Surgical Associates also executed a new five-year lease. The property is a condo pad unit within Walnut Bottom Towne Center. The site is one of three "Catalyst Sites" in the Township's Walnut Bottom Corridor Master Plan, which aims to create a pedestrian-friendly "Vibrant Town Center" by 2030. The current Walnut Bottom Towne Center is expected to add additional pad site development to revitalize the retail and amenities in the area. A 41-acre mixed-use development known as Cambria Place is located directly across Walnut Bottom Road. Preliminary land development plans, approved in Q3 2021, propose 396 new residential units, including 60 townhomes and 336 apartment units within seven buildings, plus a clubhouse. Additionally, a 126-acre development site immediately to the southwest is proposed as a walkable neighborhood with diverse housing options, parklets, sidewalks, new office and retail uses, and trails. The property is located near the UPMC Pinnacle Hospital Campus. Planet Fitness has occupied the property since 2009, and its national franchisee operates 105 clubs in multiple states. UPMC executed a new four-year lease that commences Q2 2023 and has annual rent increases.
Key Highlights
- NNN Leased Retail Center anchored by Planet Fitness and UPMC Surgical Associates, offering a stable income stream.
- Planet Fitness recently executed a 5‑year lease extension through late 2027 with 10% rent increases, demonstrating commitment.
- Located in the Walnut Bottom Corridor, a designated 'Catalyst Site' for a pedestrian‑friendly 'Vibrant Town Center' by 2030, indicating future growth.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $424.5k | $18.00 |
| − Vacancy | −$25.0k | −$1.06 |
| EGI | $399.5k | $16.94 |
| − OpEx | −$159.8k | −$6.78 |
| NOI | $239.7k | $10.16 |
23,584 SF · lease $18.00/SF/yr · vacancy 5.90% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$3.42M
$3.00M – $3.99M
NOI $239,679 @ 7.0% cap · market cap 6.49%
Second Best
Retail
$3.24M
$2.84M – $3.78M
NOI $227,029 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$5.48M
$4.79M – $6.39M
NOI $383,487 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Central Pennsylvania Surgical ...
Medical Clinic
Stephanie Lyn Bolger, ...
Physician
Jade Marie Means, ...
Physician
Walnut Bottom Towne ...
Shopping Center & Mall
UPMC Central PA ...
Bariatric Surgeon
Similar For Sale Nearby
FAQs
What type of property is this?
Neighborhood center - NNN leased retail center anchored by Planet Fitness and UPMC.
Where is this neighborhood center located?
The property is located at 1186 Walnut Bottom Road Carlisle, PA.
What is the asking price?
The asking price for this property is $3,695,000.
What are key features of this property?
This property features: NNN Leased Retail Center anchored by Planet Fitness and UPMC Surgical Associates, offering a stable income stream.; Planet Fitness recently executed a 5‑year lease extension through late 2027 with 10% rent increases, demonstrating commitment.; Located in the Walnut Bottom Corridor, a designated 'Catalyst Site' for a pedestrian‑friendly 'Vibrant Town Center' by 2030, indicating future growth.
