NNN Retail Center with Medical
New
For Sale
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1186 Walnut Bottom Rd, Carlisle, PA 17015
NNN retail center anchored by fitness and medical users near UPMC Carlisle Hospital Campus.
Property Size24,584 SF
Price / SF$150.30
Days on Market3
Property Features for 1186 Walnut Bottom Rd
General Information
Standard status
Active
Size
24,584 SF
Property subtype
RETAIL
Additional Details
Anchor Co-Tenants
Planet Fitness, UPMC Surgical Associates
Building Details
Tenancy
Multi
Listing Agency:
Landmark Commercial Realty
(717) 421-1943
Listed By:
Jason Grace · License #RS225235L
(717) 421-1943
Source:
Moodyscre
Added: Jul 30
Changed: Jul 31
Last Checked: Jul 31 at 11:05AM
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 24,584-square-foot NNN retail center is anchored by Planet Fitness and UPMC Surgical Associates. Planet Fitness executed a new five-year extension in 2022 with 10% rent increases at renewals. UPMC executed a new four-year lease commencing in Q2 2023, with two three-year options. The property also includes remaining vacancies, including a suite into which UPMC has rights to expand.
The center is located on Walnut Bottom Rd adjacent to the UPMC Carlisle Hospital Campus and a new mixed-use Town Center development underway at the site of the former United Telephone Building. The property is also adjacent to I-81, an East Coast logistics corridor, and is identified as a catalyst site within the Township’s Walnut Bottom Corridor Master Plan.
The center is located on Walnut Bottom Rd adjacent to the UPMC Carlisle Hospital Campus and a new mixed-use Town Center development underway at the site of the former United Telephone Building. The property is also adjacent to I-81, an East Coast logistics corridor, and is identified as a catalyst site within the Township’s Walnut Bottom Corridor Master Plan.
Key Highlights
- 24,584‑square‑foot NNN retail center
- Anchored by Planet Fitness and UPMC Surgical Associates
- Planet Fitness executed a new 5‑year extension in 2022 with 10% rent increases at renewals
Financial Insights For Retail
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 | $354.0k | $14.40 |
| − Vacancy | −$15.9k | −$0.65 |
| EGI | $338.1k | $13.75 |
| − OpEx | −$101.4k | −$4.13 |
| NOI | $236.7k | $9.63 |
24,584 SF · lease $14.40/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.38M
$2.96M – $3.94M
NOI $236,655 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.71M
$5.00M – $6.66M
NOI $399,748 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
813
Businesses Nearby
Explore this area
Business Placement
Demographics for 17015, PA
22,316
Population
10,025
Households
2.2
Avg Household Size
49
Median Age
35%
College-Educated
93%
High-School Grad
110.8 sq mi
ZIP Area
201
Density / Sq Mi
$87,634
Median Household Income
$47,624
Median Earnings
$1,168
Median Rent
$281,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - NNN retail center anchored by fitness and medical users near UPMC Carlisle Hospital Campus.
Where is this nnn property located?
The property is located at 1186 Walnut Bottom Rd 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: 24,584‑square‑foot NNN retail center; Anchored by Planet Fitness and UPMC Surgical Associates; Planet Fitness executed a new 5‑year extension in 2022 with 10% rent increases at renewals
