Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    4.43 Acre Commercial Land Parcel Title is generated by Realmo AI

    2157 Baltimore Pike, Hanover, PA 17331

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Located in rapidly growing area with high traffic count.

    Type:Land
    Lot size:
    4.43 Acres
    Added:
    Jul 1, 2021
    Days on Market:
    1800
    Last Refresh:
    May 12 at 9:43 pm

    Property Features for 2157 Baltimore Pike

    General Information

    Standard status
    Active
    Lot size
    4.43 Acres
    Property subtype
    Land

    Spaces For Lease

    at 2157 Baltimore Pike Contact us

    We can help!

    Listing Contact
    Ryan Nelson

    Listing agent Ryan Nelson License #PA

    Listing office PSIG

    Listing date Jul 1, 2021

    Source Crexi

    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 PSIG

    HighLights

    • Located in a rapidly growing area driven by Maryland commuters and DC retirees.
    • High traffic count of over 14,500 CPD on Baltimore Pike.
    • Benefits from a lighted intersection.
    • Directly across from Camping World.
    • 4.43 acre parcel.
    • Over 1,000 new residential units planned nearby in the next 6 years.

    Overview

    This 4.43-acre commercial land parcel is situated in a rapidly growing area of South Hanover, Pennsylvania. The area's growth is attributed to Maryland commuters and retirees from Washington, D.C., seeking a lower cost of living. The property benefits from a lighted intersection and is located directly across from Camping World. Traffic count on Baltimore Pike exceeds 14,500 cars per day. Over 1,000 new residential units are planned for development in the next six years.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    York
    State
    Pennsylvania
    Longitude
    -76.954056
    Latitude
    39.754417

    Nearby Similar for Lease

    • $3,895/Mo

      Historic Brick Building in Hanover

      Multi-story building suitable for various commercial and mixed-uses.
      241 N FRANKLIN Street, HANOVER, PA 17331
      View Details
    • $3,583/Mo
      2,150 SF

      Hanover Office Space For Lease

      2150 SF office space in Hanover, tenant customization options.
      1147 EICHELBERGER Street, HANOVER, PA 17331
      View Details
    • $12 SF/Yr
      10,628 SF

      Modern Office Space For Sublease

      Clean, modern office space in Hanover, available for sublease.
      14 Barnhart Dr, Hanover, PA
      View Details
    • Contact for pricing
      71,636 SF

      Retail Space Next to Home Depot

      Prime retail space available next to The Home Depot.
      400 Eisenhower Dr., Hanover, PA 17331
      View Details
    • $8 SF/Yr
      4,500 SF

      York Street Showroom and Service

      Showroom and service area suitable for vehicle-related businesses.
      910 York St, Hanover, PA
      View Details
    • Contact for pricing
      516,000 SF

      Hanover Office Suites For Rent

      Office suites available in Hanover, PA with flexible terms.
      501 Ridge Avenue, Hanover, PA 17331
      View Details
    • $18 SF/Yr
      1,460 SF

      Retail Space in Modern Strip

      In-line retail space suitable for various business types.
      1446e Baltimore St, Hanover, PA
      View Details
    • Contact for pricing
      87,000 SF

      Food-Grade Warehouse with Office Space

      87,000 SF food-grade warehouse with convenient highway access.
      350 Kindig Lane, Hanover, PA, 17331
      View Details
    • $3,583/Mo

      Commercial Property for Rent

      Commercial property available for rent in Hanover, Pennsylvania.
      1147 Eichelberger St, Hanover, PA 17331
      View Details
    • Contact for pricing
      71,636 SF

      Retail Space in Hanover, PA

      71,636 SF retail space available in Hanover, Pennsylvania.
      400 Eisenhower Dr., Hanover, PA 17331
      View Details
    • Contact for pricing
      16,200 SF

      Hanover Office Building For Rent

      Class B office building in Hanover, PA, renovated in 2003.
      1040 High Street, Hanover, PA, 17331
      View Details
    • Contact for pricing
      2,229 SF

      Retail/Office Condo Units For Rent

      Combined condo units with retail visibility, ideal for retail/office.
      1157 Eichelberger St, Hanover, PA 17331
      View Details

    FAQs

    What type of property is this?
    Commercial land - Located in rapidly growing area with high traffic count.
    Where is this commercial land located?
    The property is located at 2157 Baltimore Pike Hanover, PA.
    What are key features of this property?
    This property features: Located in a rapidly growing area driven by Maryland commuters and DC retirees.; High traffic count of over 14,500 CPD on Baltimore Pike.; Benefits from a lighted intersection.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ryan Nelson
    Real Estate License ID: PA
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2157 Baltimore Pike, Hanover, PA 17331
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!