Retail Investment
For Sale
$1,691,000
1 Mill Rd, Newville, PA 17241
For sale retail property presented at an 8.20% cap rate.
Property Size14,341 SF
Price / SF$113.83
Days on Market145
Property Features for 1 Mill Rd
General Information
Standard status
Active
Size
14,341 SF
Property subtype
Commercial
Occupancy
86%
Lease Term
± 7.0 Years
Net Operating Income
$134,958
Additional Details
Cap Rate
8.2%
Building Details
Building Size
14,341 SF
Year Built
2013
Units
4
Listing Agency:
Matthews Real Estate Investment Services, Inc
(771) 208-7475
Listed By:
Baxter Gimer · License #5022231
(771) 208-7475
Source:
Matthews
Added: Apr 10
Changed: Aug 25
Last Checked: Aug 31 at 12:41PM
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 Matthews Real Estate Investment Services, Inc
Investment Insights
Based on property information with market context.
This for-sale retail property is presented with an 8.20% cap rate and a total size of 14,855 square feet.
Located at 1 Mill Road in Newville, Pennsylvania, the offering is positioned as a straightforward retail investment asset for buyers seeking a property framed around the stated return metric.
The information provided does not include additional details on suite layout, frontage, tenant occupancy, or improvement specifics, so those items should be confirmed during due diligence.
Located at 1 Mill Road in Newville, Pennsylvania, the offering is positioned as a straightforward retail investment asset for buyers seeking a property framed around the stated return metric.
The information provided does not include additional details on suite layout, frontage, tenant occupancy, or improvement specifics, so those items should be confirmed during due diligence.
Key Highlights
- Retail property for sale at an 8.20% cap rate
- 8.20% cap rate and 14,855 SF retail size
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
$143,000
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
8.46%
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%
$2,860,000
$2.9M
Cap Rate 7%
$2,042,857
$2.0M
Cap Rate 9%
$1,588,889
$1.6M
Market Conditions
NOI Build-Up for 14,855 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
$213.9K $14.40/SF
− Vacancy
−$9.6K −$0.65/SF
EGI
$204.3K $13.75/SF
− OpEx
−$61.3K −$4.13/SF
NOI
$143.0K $9.63/SF
Area
Cumberland County, PA
Vacancy
4.50%
Lease Rate
$14.40 /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%
$2,860,000
Cap Rate 7%
$2,042,857
Cap Rate 9%
$1,588,889
Alternative Uses
Best Use
Retail
$2.04M
$1.79M – $2.38M
NOI $143,000 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.45M
$3.02M – $4.03M
NOI $241,549 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Dining 5%
Dollar General
Shops & Services
6,533 visits/mo
0.1 miles
SUBWAY
Dining
331 visits/mo
0.1 miles
Demographics for 17241, PA
11,878
Population
4,636
Households
2.6
Avg Household Size
44
Median Age
17%
College-Educated
87%
High-School Grad
111.7 sq mi
ZIP Area
106
Density / Sq Mi
$75,371
Median Household Income
$40,520
Median Earnings
$978
Median Rent
$208,400
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?
Retail space - For sale retail property presented at an 8.20% cap rate.
Where is this retail space located?
The property is located at 1 Mill Rd Newville, PA.
What is the asking price?
The asking price for this property is $1,691,000.
What are key features of this property?
This property features: Retail property for sale at an 8.20% cap rate; 8.20% cap rate and 14,855 SF retail size
