Medical Office Suite with Exam
For Sale
$149,900
195 STOCK STREET #307A, Hanover, PA 17331
Suite includes two exam rooms and two offices within the Eichelberger Building.
Property Size923 SF
Price / SF$162.41
Days on Market109
Property Features for 195 STOCK STREET #307A
General Information
Standard status
Active
Size
923 SF
Property subtype
Commercial
Building Details
Year Built
1896
Listing Agency:
Keller Williams Keystone Realty
(717) 755-5599
Listed By:
Adam W Flinchbaugh
(717) 288-7766
Source:
Cummingsrealtors
Added: May 28
Changed: Sep 12
Last Checked: Sep 13 at 11:10AM
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 suite is configured with two exam rooms and two offices, offering a practical layout for a healthcare practice or professional services operation. The unit is part of the Eichelberger Building, which brings together healthcare and other office uses in a single multi-unit facility.
The building features two elevators and sheltered entrances for visitor accessibility, supported by more than 220 parking spaces. Units can be purchased individually or as part of a package, providing flexibility for buyers looking to add to an existing portfolio.
The suite’s interior build-out supports patient-facing rooms alongside dedicated office space, making it a straightforward option for organizations needing both examination and administrative areas.
The building features two elevators and sheltered entrances for visitor accessibility, supported by more than 220 parking spaces. Units can be purchased individually or as part of a package, providing flexibility for buyers looking to add to an existing portfolio.
The suite’s interior build-out supports patient-facing rooms alongside dedicated office space, making it a straightforward option for organizations needing both examination and administrative areas.
Key Highlights
- Suite in the Eichelberger Building includes two exam rooms and two offices
- Year built: 1896
- Eichelberger Building has over 220 parking spaces
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
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 - Suite includes two exam rooms and two offices within the Eichelberger 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: Suite in the Eichelberger Building includes two exam rooms and two offices; Year built: 1896; Eichelberger Building has over 220 parking spaces
