Building Details

Building Size 5,600 SF

Year Built 1990

Listed By: Ida McMurray, CCIM, SIOR Show Phone

Source: Capstonecre

Added: Jun 25 Changed: Oct 12 Last Checked: Oct 16 at 5:38AM

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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 Ida McMurray, CCIM, SIOR

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Investment Insights

Based on property information with market context.

This flex property in Hanover, Pennsylvania, was built in 1990 and combines office space with practical loading infrastructure. The improvements include 1 full-height dock and 1 overhead drive-in door, supporting a range of commercial and industrial operations.

The property occupies a signalized intersection along Rt. 94 with approximately 13,000 vehicles per day, providing direct exposure and access. A large lot offers room for building expansion, outdoor storage, or additional parking, giving the site added operational flexibility.

Key Highlights

• Flex property with existing office space
• 1 full‑height dock and 1 overhead drive‑in door
• Large lot for expansion, outdoor storage, or additional parking

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,677

Cap Rate

5.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$793,540 $793.5K

Cap Rate 7%

$566,814 $566.8K

Cap Rate 9%

$440,856 $440.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,600 SF

Gross rent

$49.4K $8.83/SF

− Vacancy

−$2.8K −$0.49/SF

EGI

$46.7K $8.34/SF

− OpEx

−$7.0K −$1.25/SF

NOI

$39.7K $7.09/SF

Area

York County, PA

Vacancy

5.60%

Lease Rate

$8.83 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$793,540

Cap Rate 7%

$566,814

Cap Rate 9%

$440,856

Alternative Uses

Best Use

Warehouse

$566.8K

$496.0K – $661.3K (±1% cap)

NOI $39,677 @ 7.0% cap · market cap 5.68%

Second Best

Industrial

$466.8K

$408.4K – $544.6K (±1% cap)

NOI $32,675 @ 7.0% cap · market cap 4.67%

Theoretical Best

Office A

$1.62M

$1.42M – $1.89M (±1% cap)

NOI $113,498 @ 7.0% cap · market cap 16.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Fine Line Collision ... Auto Repair Shop Fineline Collision and Sales, ... Auto Repair Shop

Suggested Use

Top Pick Real Estate Agency Building Supply Restaurant Law Firm Dental Office Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Dock-high doors

1

Drive-in doors

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

174

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 Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Office space, loading facilities, and a large lot support varied commercial configurations in Hanover.

Where is this flex space located?

The property is located at 2145 Baltimore Pike Hanover, PA.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: Flex property with existing office space; 1 full‑height dock and 1 overhead drive‑in door; Large lot for expansion, outdoor storage, or additional parking