Automotive Service Property with Car
For Sale
Contact for pricing
1226 Carlisle Street, Hanover, PA 17331
Improved automotive property with showroom, offices, service bays, and a drive-through car wash.
Property Size28,420 SF
Lot Size5.58 Acres
Price / SF$219.92
Days on Market8
Property Features for 1226 Carlisle Street
General Information
Standard status
Active
Size
28,420 SF
Total Parking Spaces
266
Lot size
5.58 Acres
Property subtype
Retail
Zoning
Shopping Commercial (SC)
Automotive
Service Bays
14
Car Wash Bays
1
Building Details
Year Built
2005
Buildings
1
Units
1
Listing Agency:
ROCK Commercial Real Estate
(717) 854-5357
Listed By:
David Bode · License #PA RM423009
Source:
Crexi
Added: Aug 25
Changed: Aug 31
Last Checked: Aug 31 at 8:59AM
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 ROCK Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 1226 Carlisle Street in Hanover, Pennsylvania, this automotive service property occupies a fully improved 5.58-acre parcel. The facility includes 12,934 SF of retail, showroom, and office space with 16-foot clear height, along with 12,505 SF of shop and technical area configured for 11 service lifts. Three drive-through service bays and a drive-through car wash are also included.
Storage comprises 538 SF at ground level and an additional 2,443 SF on a mezzanine. The property was built in 2005 and carries Shopping Commercial (SC) zoning. An adjoining 1.23-acre paved parcel is included, with a concept plan for a separate 6,000 SF building. The owner will lease back the property for 18–24 months during construction of a new facility.
Storage comprises 538 SF at ground level and an additional 2,443 SF on a mezzanine. The property was built in 2005 and carries Shopping Commercial (SC) zoning. An adjoining 1.23-acre paved parcel is included, with a concept plan for a separate 6,000 SF building. The owner will lease back the property for 18–24 months during construction of a new facility.
Key Highlights
- 5.58‑acre improved parcel with 12,934 SF of retail, showroom, and office space
- 12,505 SF shop/tech area configured for 11 service lifts
- Three drive‑through service bays plus a drive‑thru car wash
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
$339,113
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
5.43%
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%
$6,782,260
$6.8M
Cap Rate 7%
$4,844,471
$4.8M
Cap Rate 9%
$3,767,922
$3.8M
Market Conditions
NOI Build-Up for 28,420 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
$511.6K $18.00/SF
− Vacancy
−$27.1K −$0.95/SF
EGI
$484.4K $17.05/SF
− OpEx
−$145.3K −$5.11/SF
NOI
$339.1K $11.93/SF
Area
York County, PA
Vacancy
5.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$6,782,260
Cap Rate 7%
$4,844,471
Cap Rate 9%
$3,767,922
Alternative Uses
Best Use
Retail
$4.84M
$4.24M – $5.65M
NOI $339,113 @ 7.0% cap · market cap 5.43%
Second Best
Specialty Retail
$2.53M
$2.21M – $2.95M
NOI $176,823 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$8.23M
$7.20M – $9.60M
NOI $576,001 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Service bays
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
583k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Superstores 32%
Shops & Services 14%
Home Improvements & Furnishings 12%
Target
Superstores
93,357 visits/mo
0.1 miles
Sam's Club
Superstores
81,760 visits/mo
0.5 miles
Rural King
Home Improvements & Furnishings
50,808 visits/mo
0.5 miles
Sam's Club Gas Station
Shops & Services
34,310 visits/mo
0.4 miles
Texas Roadhouse
Dining
29,311 visits/mo
0.4 miles
Demographics for 17331, PA
55,458
Population
23,528
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
90%
High-School Grad
74.4 sq mi
ZIP Area
745
Density / Sq Mi
$76,661
Median Household Income
$45,168
Median Earnings
$1,127
Median Rent
$228,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Monro Auto Service And Tire Centers — 5 Kuhn Dr, Hanover, PA 17331
- Hanover Truck & RV Collision & Repair Center — 1083 Carlisle St, Hanover, PA 17331
- Hanover Collision Center — 140 Dart Dr, Hanover, PA 17331
- Meineke Car Care Center — 1125 Carlisle St, Hanover, PA 17331
- Goodyear — 1110-1126 Carlisle St, Hanover, PA 17331
Frequently Asked Questions
What type of property is this?
Auto shop - Improved automotive property with showroom, offices, service bays, and a drive-through car wash.
Where is this auto shop located?
The property is located at 1226 Carlisle Street Hanover, PA.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: 5.58‑acre improved parcel with 12,934 SF of retail, showroom, and office space; 12,505 SF shop/tech area configured for 11 service lifts; Three drive‑through service bays plus a drive‑thru car wash
