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    Historic Wrightsville Mixed-Use Property Title is generated by Realmo AI

    206 HELLAM STREET, Wrightsville, PA 17368

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    For Sale
    $315,000

    Mixed-use property with retail space and apartment in Wrightsville.

    Type:Commercial/Industrial
    Property size:
    1,200 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $262/SF
    Added:
    Oct 3, 2024
    Days on Market:
    601
    Last Refresh:
    May 19 at 10:08 pm

    Property Features for 206 HELLAM STREET

    General Information

    Standard status
    Active
    Size
    1,200 SF
    Lot size
    0.11 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Alicia Galpin

    Listing agent Alicia Galpin License #AB069442

    Listing office Southern Management Rentals

    Listing date Oct 3, 2024

    Source Exitrealty

    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 Southern Management Rentals

    HighLights

    • Prime location in the heart of Historic Wrightsville.
    • Income‑generating property with two rental units (retail and apartment).
    • Zoned Town Center, offering flexible usage options.
    • Spacious retail space (approximately 1200 sq ft) with ornate built‑ins.
    • Rental apartment features 2 bedrooms, 1 bath, high ceilings, and stain glass.
    • Includes parking and private shed in rear.

    Overview

    Located in the heart of Historic Wrightsville, this property features a commercial/retail space with ornate built-ins and an expansive basement for storage. The retail space is estimated to be 1200 square feet. Above the retail space is a rental apartment with a private entrance, featuring 2 bedrooms and 1 bath, high ceilings, and stained glass throughout. The property has separate heating. Water, sewer, and trash average $210 per month. There is parking and a private shed located in the rear of the property. The zoning is Town Center. The 2nd-floor apartment is currently under a month-to-month lease at $1125 per month. The 1st-floor retail space is also under a month-to-month lease with a yearly 5% escalation clause at $945 per month. This property presents an investor opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Kitchen & Bath Showroom Auto Repair Shop Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Wrightsville
    County
    York
    State
    Pennsylvania
    Longitude
    -76.5304268
    Latitude
    40.0258633

    Nearby Similar for Sale

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      Established Pizza Business For Sale

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with retail space and apartment in Wrightsville.
    Where is this mixed-use property located?
    The property is located at 206 HELLAM STREET Wrightsville, PA.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: Prime location in the heart of Historic Wrightsville.; Income‑generating property with two rental units (retail and apartment).; Zoned Town Center, offering flexible usage options.
    (717) 880-4034
    We can help!
    Listing Contact
    Alicia Galpin
    Real Estate License ID: AB069442
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    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.

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    206 HELLAM STREET, WRIGHTSVILLE, PA 17368
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