Apartment Building Package
1502 HOLLY PIKE Carlisle, PA 17015
New
For Sale
$2,200,000
Apartment building offered as part of an estate package including sheds, weeklies, and efficiencies, sold as-is.
Property Size16,344 SF
Price / SF$134.61
Days on Market7
Property Features for 1502 HOLLY PIKE
General Information
Standard status
Active
Size
16,344 SF
Property subtype
Commercial
Building Details
Year Built
1960
Listing Agency:
Alpha State Realty
(717) 243-5400
Listed By:
Anastasia V Mallios · License #RM424541
(717) 243-5400
Source:
Cummingsrealtors
Added: Jul 23
Changed: Jul 27
Last Checked: Jul 29 at 5:40AM
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 Alpha State Realty
Investment Insights
Based on property information with market context.
This multifamily apartment building is being sold as part of an estate package that includes sheds, weeklies, and efficiencies. The property is offered AS IS, and buyers should review the associated documents for the financial package.
The offering includes a limited showing schedule with three designated times: Aug 1 from 10:00am to 2:00pm, Aug 4 from 4:00pm to 7:00pm, and Aug 9 from 2:00pm to 4:00pm. Offers are due Aug 12 by 5:00pm, and the seller’s attorney will be given until Aug 17 to respond.
Any additional questions should be submitted in writing via email to the listing agent, Sia.
The offering includes a limited showing schedule with three designated times: Aug 1 from 10:00am to 2:00pm, Aug 4 from 4:00pm to 7:00pm, and Aug 9 from 2:00pm to 4:00pm. Offers are due Aug 12 by 5:00pm, and the seller’s attorney will be given until Aug 17 to respond.
Any additional questions should be submitted in writing via email to the listing agent, Sia.
Key Highlights
- Apartment building built in 1960
- Offered as part of an estate package that includes sheds, weeklys, and efficiencies
- Sold as‑is
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $266.7k | $16.32 |
| − Vacancy | −$15.7k | −$0.96 |
| EGI | $251.0k | $15.36 |
| − OpEx | −$112.9k | −$6.91 |
| NOI | $138.0k | $8.45 |
16,344 SF · lease $16.32/SF/yr · vacancy 5.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.97M
$1.73M – $2.30M
NOI $138,048 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.80M
$3.32M – $4.43M
NOI $265,761 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building offered as part of an estate package including sheds, weeklies, and efficiencies, sold as-is.
Where is this apartment building located?
The property is located at 1502 HOLLY PIKE Carlisle, PA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Apartment building built in 1960; Offered as part of an estate package that includes sheds, weeklys, and efficiencies; Sold as‑is
