Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    138 E Hanover St Hanover, PA 17331

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Three-story, approximately 29,100 SF multi-purpose building requiring total rehabilitation.

    Property Features for 138 E Hanover St

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    John R Cupo
    Source: Crexi

    Listing Agency: Cupo LLC Listing Agent: John R Cupo

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Multi-Purpose Building For Sale

    The property at 140 East Hanover St., Trenton, NJ, is a former YMCA building. The three-story multi-purpose building has a total area of approximately 29,100 SF and includes offices, an auditorium, and a gymnasium. It is situated on an 11,723 SF irregular lot. The property requires total rehabilitation. The sale of this property includes 127 Academy St., Trenton, NJ, but they can be sold separately. Each property could be sold independently.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    York
    State
    Pennsylvania
    Longitude
    -76.97666
    Latitude
    39.79876

    Nearby Similar for Sale

    • $312,500
      4,000 SF

      Commercial Property in Downtown Hanover

      4,000 SF commercial property in Hanover's business district.
      209 Broadway, Hanover, PA 17331
      View Details
    • $355,000
      0.15 Acres

      Versatile Commercial Property in Hanover

      Unique property suitable for retail, office, or residential conversion.
      119 Baltimore St, Hanover, PA 17331
      View Details
    • New
      $275,000
      2,593 SF

      Hanover Duplex Investment Opportunity

      Spacious, well-maintained duplex with separate utilities and ample parking.
      117 Baltimore St, Hanover, PA 17331
      View Details
    • New
      $255,000
      1,834 SF

      Hanover Duplex with Detached Garage

      Brick duplex with garage in Southwestern school district, Hanover, PA.
      819-8191/2 York St, Hanover, PA 17331
      View Details
    • $349,900
      3,578 SF

      concrete floors

      electric and a 15' workbench. Both garages are accessed by blacktop driveways. Appliances included are: Refrigerator
      1494 Carlisle Pike, Hanover, PA 17331
      View Details
    • New
      $949,000
      12,491 SF

      Medical Office Space For Sale

      12,491 SqFt medical office space available for purchase.
      864 Broadway, Hanover, PA 17331
      View Details
    • Contact for pricing
      7.78 Acres

      Hanover Retail Center - Prime Location

      Thriving Hanover retail space, high traffic.
      1000 Carlisle St, Hanover, PA 17331
      View Details
    • Contact for pricing
      357,372 SF

      Industrial Property in Hanover, PA

      Industrial property for sale in Hanover, Pennsylvania.
      240 Kindig Ln, Hanover, PA 17331
      View Details
    • $500,000
      12,700 SF

      18 Centennial Ave, Hanover, PA 17331

      Industrial properties • 12,700 SF
      18 Centennial Ave, Hanover, PA 17331
      View Details
    • $264,900
      1,835 SF

      listed with Penn Township

      this property could qualify for up to Two units for rental!!! Contact the Penn Township site for specific details... Don't miss this opportunity
      715 Frederick St, Hanover, PA 17331
      View Details
    • $479,900
      0.33 Acres

      Business Services

      Medical\/Dental Clinic
      400 Carlisle St, Hanover, PA 17331
      View Details
    • $1,300,000
      1,598 SF

      Hanover Mixed-Use Commercial Land

      Prime Baltimore Pike location, high traffic count.
      2217-2233 Baltimore Pike, Hanover, PA 17331
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Three-story, approximately 29,100 SF multi-purpose building requiring total rehabilitation.
    Where is this mixed-use property located?
    The property is located at 138 E Hanover St Hanover, PA.
    What are key features of this property?
    This property features: - Multi-purpose 3-story building with approximately 29,100 SF.; - Features a gymnasium, auditorium, and offices.; - Located at 140 East Hanover St., Trenton, NJ (former YMCA property).
    Request Owner's contact information
    138 E Hanover St Hanover, PA 17331
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    138 E Hanover St
    Hanover, PA 17331
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    138 E Hanover St Hanover, PA 17331
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    John R Cupo
    Real Estate License ID: 0790333
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!