Medical Office Unit with Exam
New
For Sale
$149,900
195 Stock Street 307a, Hanover, PA 17331
Medical office unit with two exam rooms and two private offices in a mixed-use professional building.
Property Size923 SF
Price / SF$162.41
Days on Market2
Property Features for 195 Stock Street 307a
General Information
Standard status
Active
Size
923 SF
Elevators
Yes
Amenities
performing arts center
sheltered entrances
Building Details
Year Built
1896
Tenancy
Multi
Listing Agency:
Keller Williams Keystone Realty
Listed By:
Adam W Flinchbaugh · License #RS241100L
(717) 288-7766
Source:
Lgagne
Added: Sep 4
Last Checked: Sep 4 at 7:19AM
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 Keller Williams Keystone Realty
Investment Insights
Based on property information with market context.
This medical office unit at 195 Stock Street includes two exam rooms and two offices within the Eichelberger Building. The property is suited to healthcare or professional office use and is available for individual purchase or as part of a package of units.
Building amenities include more than 220 parking spaces, two elevators, and sheltered entrances. The Eichelberger Building also contains professional offices, healthcare-related services, and a performing arts center, providing a varied setting for visitors and occupants. Constructed in 1896, the building combines office space with cultural and community-oriented uses.
Building amenities include more than 220 parking spaces, two elevators, and sheltered entrances. The Eichelberger Building also contains professional offices, healthcare-related services, and a performing arts center, providing a varied setting for visitors and occupants. Constructed in 1896, the building combines office space with cultural and community-oriented uses.
Key Highlights
- Two exam rooms and two offices within the unit
- More than 220 parking spaces serving the building
- Two elevators and sheltered entrances
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
$4,580
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
3.06%
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%
$91,600
$91.6K
Cap Rate 7%
$65,429
$65.4K
Cap Rate 9%
$50,889
$50.9K
Market Conditions
NOI Build-Up for 923 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
$8.1K $8.76/SF
− Vacancy
−$453 −$0.49/SF
EGI
$7.6K $8.27/SF
− OpEx
−$3.1K −$3.31/SF
NOI
$4.6K $4.96/SF
Area
York County, PA
Vacancy
5.60%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
40.00%
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%
$91,600
Cap Rate 7%
$65,429
Cap Rate 9%
$50,889
Alternative Uses
Best Use
Office B
$210.2K
$183.9K – $245.3K
NOI $14,715 @ 7.0% cap · market cap 9.82%
Second Best
Healthcare Medical
$65.4K
$57.3K – $76.3K
NOI $4,580 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$267.2K
$233.8K – $311.8K
NOI $18,707 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,579
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17331, PA
55,458
Population
23,528
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
90%
High-School Grad
74.4 sq mi
ZIP Area
745
Density / Sq Mi
$76,661
Median Household Income
$45,168
Median Earnings
$1,127
Median Rent
$228,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office unit with two exam rooms and two private offices in a mixed-use professional building.
Where is this medical office space located?
The property is located at 195 Stock Street 307a Hanover, PA.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Two exam rooms and two offices within the unit; More than 220 parking spaces serving the building; Two elevators and sheltered entrances
