Limestone House Zoned
For Sale
$795,000
890 Walnut Bottom Rd, Carlisle, PA 17013
Limestone house zoned C-4, suitable for professional office.
Property Size3,500 SF
Lot Size1.61 Acres
Price / SF$227.14
Days on Market767
Property Features for 890 Walnut Bottom Rd
General Information
Standard status
Active
Size
3,500 SF
Lot size
1.61 Acres
Taxes and HOA fees
Annual Taxes
$5,147
Listing Agency:
Shearer 24, LLC
(717) 576-8101
Listed By:
WILLIAM L L SHEARER Jr. · License #RM425633
(717) 576-8101
Source:
Exprealty
Added: Jul 15, 2024
Changed: Aug 20
Last Checked: Aug 20 at 11:20AM
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 Shearer 24, LLC
Investment Insights
Based on property information with market context.
This property features a limestone house with over 3500 square feet of space, zoned C-4 (Neighborhood Commercial). It is located next to an I-81 ramp, making it suitable for a professional office or similar uses. The property is connected to public water. Public sewer is available from Carlisle Borough from Garland Drive, requiring a grinder pump.
Key Highlights
- 3500+ square foot limestone house.
- Zoned C‑4 (Neighborhood Commercial).
- Next to I‑81 ramp.
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
$44,462
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
5.59%
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%
$889,240
$889.2K
Cap Rate 7%
$635,171
$635.2K
Cap Rate 9%
$494,022
$494.0K
Market Conditions
NOI Build-Up for 3,500 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
$63.0K $18.00/SF
− Vacancy
−$3.7K −$1.06/SF
EGI
$59.3K $16.94/SF
− OpEx
−$14.8K −$4.23/SF
NOI
$44.5K $12.70/SF
Area
Cumberland County, PA
Vacancy
5.90%
Lease Rate
$18.00 /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%
$889,240
Cap Rate 7%
$635,171
Cap Rate 9%
$494,022
Alternative Uses
Best Use
Office B
$635.2K
$555.8K – $741.0K
NOI $44,462 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$813.0K
$711.4K – $948.5K
NOI $56,912 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17013, PA
36,578
Population
16,065
Households
2.3
Avg Household Size
39
Median Age
34%
College-Educated
93%
High-School Grad
39.2 sq mi
ZIP Area
933
Density / Sq Mi
$68,150
Median Household Income
$36,336
Median Earnings
$1,018
Median Rent
$221,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kirbtech LLC — 1550 Ritner Hwy, Carlisle, PA 17013
Frequently Asked Questions
What type of property is this?
Office space - Limestone house zoned C-4, suitable for professional office.
Where is this office space located?
The property is located at 890 Walnut Bottom Rd Carlisle, PA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 3500+ square foot limestone house.; Zoned C‑4 (Neighborhood Commercial).; Next to I‑81 ramp.
