Industrial Flex Building with
1649 Broadway Hanover, PA 17331
For Sale
Contact for pricing
Industrial flex building with limited office area and a 702 kW solar panel system producing additional income.
Property Size118,172 SF
Price / SF$68.12
Days on Market107
Property Features for 1649 Broadway
General Information
- Standard status
- Active
- Size
- 118,172 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1974
Listing Agency:
Marcus & Millichap - Cleveland
Listed By:
Ken Hobson · License #RS229321
Source:
Crexi
Added: Apr 9
Changed: Jul 23
Last Checked: Jul 23 at 11:04AM
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 Marcus & Millichap - Cleveland
Investment Insights
Based on property information with market context.
1649 Broadway is an industrial flex building totaling 118,172 square feet, with office space limited to approximately 8.5% of the overall area. The ceiling height and available power are positioned to support manufacturing as well as distribution uses. The design and layout also allow the property to be reconfigured for a multi-tenant setup if needed.
The property is located in Hanover, Pennsylvania, near the Maryland state line, with proximity to the York, Harrisburg, and Upper Chesapeake Bay markets.
In addition to rental income, the building includes a 702 kW solar panel system generating approximately $25,000 to $50,000 depending on weather and demand.
The property is located in Hanover, Pennsylvania, near the Maryland state line, with proximity to the York, Harrisburg, and Upper Chesapeake Bay markets.
In addition to rental income, the building includes a 702 kW solar panel system generating approximately $25,000 to $50,000 depending on weather and demand.
Key Highlights
- 118,172 SF industrial flex building built in 1974
- Office area is limited to approximately 8.5% of total building area
- Design allows reconfiguration for a multi‑tenant asset if required
Financial Insights For Industrial
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 | $1.04M | $8.83 |
| − Vacancy | −$58.4k | −$0.49 |
| EGI | $985.0k | $8.34 |
| − OpEx | −$295.5k | −$2.50 |
| NOI | $689.5k | $5.83 |
118,172 SF · lease $8.83/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$11.96M
$10.47M – $13.95M
NOI $837,271 @ 7.0% cap · market cap 10.40%
Second Best
Industrial
$9.85M
$8.62M – $11.49M
NOI $689,518 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$34.21M
$29.94M – $39.92M
NOI $2,395,045 @ 7.0% cap · market cap 29.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Craft Eats
Take-out & Catering
Passion For Print
(Bike/Boat/Book/etc) Store
Grillrilla
Restaurant
Susie`s Mexican Grill
Restaurant
Baltimore Style Pit ...
Restaurant
FAQs
What type of property is this?
Flex space - Industrial flex building with limited office area and a 702 kW solar panel system producing additional income.
Where is this flex space located?
The property is located at 1649 Broadway Hanover, PA.
What is the asking price?
The asking price for this property is $8,050,000.
What are key features of this property?
This property features: 118,172 SF industrial flex building built in 1974; Office area is limited to approximately 8.5% of total building area; Design allows reconfiguration for a multi‑tenant asset if required
