Multi-Building Office Suite
For Sale
$17,500,000
2 Jennifer Ct, Carlisle, PA 17015
Four-office-building portfolio offers multiple suite sizes suited for flexible commercial uses in Carlisle, Pennsylvania.
Property Size69,797 SF
Days on Market75
Property Features for 2 Jennifer Ct
General Information
Standard status
Active
Size
69,797 SF
Class
B
Property subtype
Office
Building Details
Building Size
69,797 SF
Year Built
1998
Listing Agency:
NAI CIR | Lemoyne
Listed By:
Pamela Fisher
(717) 713-7437
Source:
Naiglobal
Added: Jun 29
Changed: Sep 5
Last Checked: Sep 10 at 8:14AM
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 NAI CIR | Lemoyne
Investment Insights
Based on property information with market context.
This for-sale portfolio includes four separate properties: 2 Jennifer Ct, 3 Jennifer Ct, 417 Village Drive, and 419 Village Drive. Each building contains various suite sizes, supporting a mix of office configurations and tenant types. The offering is structured as a multi-building investment opportunity, with suite-level flexibility built into the property design.
The buildings are located in Carlisle, PA 17015. Because the portfolio is composed of multiple addresses, buyers may evaluate unit-level leasing strategy across the suite mix within each structure, while maintaining an overall consolidated ownership approach for the four-property package.
For investors and owner-users, the primary consideration is the combination of office-use inventory and suite-size variety across the four buildings. Potential tenants benefit from the ability to match their space requirements to available suite sizes, while prospective buyers can underwrite the portfolio based on the existing suite mix within each property. This is a portfolio offering designed for those seeking office suite capacity across multiple buildings rather than a single-asset ownership structure.
The buildings are located in Carlisle, PA 17015. Because the portfolio is composed of multiple addresses, buyers may evaluate unit-level leasing strategy across the suite mix within each structure, while maintaining an overall consolidated ownership approach for the four-property package.
For investors and owner-users, the primary consideration is the combination of office-use inventory and suite-size variety across the four buildings. Potential tenants benefit from the ability to match their space requirements to available suite sizes, while prospective buyers can underwrite the portfolio based on the existing suite mix within each property. This is a portfolio offering designed for those seeking office suite capacity across multiple buildings rather than a single-asset ownership structure.
Key Highlights
- Four‑office‑building investment portfolio in Carlisle, Pennsylvania
- Portfolio includes 2 Jennifer Court, 3 Jennifer Court, 417 Village Drive, and 419 Village Drive
- All buildings built in 1998
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
$886,666
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
5.07%
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%
$17,733,320
$17.7M
Cap Rate 7%
$12,666,657
$12.7M
Cap Rate 9%
$9,851,844
$9.9M
Market Conditions
NOI Build-Up for 69,797 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
$1.26M $18.00/SF
− Vacancy
−$74.1K −$1.06/SF
EGI
$1.18M $16.94/SF
− OpEx
−$295.6K −$4.23/SF
NOI
$886.7K $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%
$17,733,320
Cap Rate 7%
$12,666,657
Cap Rate 9%
$9,851,844
Alternative Uses
Best Use
Office B
$12.67M
$11.08M – $14.78M
NOI $886,666 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.21M
$14.19M – $18.92M
NOI $1,134,933 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
833
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
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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 - Four-office-building portfolio offers multiple suite sizes suited for flexible commercial uses in Carlisle, Pennsylvania.
Where is this office units located?
The property is located at 2 Jennifer Ct Carlisle, PA.
What is the asking price?
The asking price for this property is $17,500,000.
What are key features of this property?
This property features: Four‑office‑building investment portfolio in Carlisle, Pennsylvania; Portfolio includes 2 Jennifer Court, 3 Jennifer Court, 417 Village Drive, and 419 Village Drive; All buildings built in 1998
