Corner Retail
New
For Sale
$895,000
2235 W CUMBERLAND STREET, Lebanon, PA 17042
Commercial storefront with public water, public sewer, on-site parking, and access to overflow parking at the adjacent shopping center.
Property Size3,656 SF
Lot Size0.51 Acres
Price / SF$244.80
Days on Market5
Property Features for 2235 W CUMBERLAND STREET
General Information
Standard status
Active
Size
3,656 SF
Total Parking Spaces
12
Lot size
0.51 Acres
Property subtype
Commercial
Zoning
Commercial
Site & Location
Corner Location
Yes
Traffic Count
19,500 vehicles/day
Building Details
Year Built
1960
Buildings
1
Listing Agency:
Suburban Realty
(717) 867-4487
Listed By:
SHERRI KILLINGER
(717) 507-6205
Source:
Cummingsrealtors
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 4 at 2:22PM
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 Suburban Realty
Investment Insights
Based on property information with market context.
Built in 1960, this 3,656-square-foot retail building occupies a 22,216-square-foot corner parcel, equal to 0.51 acres. The property was originally constructed as a bank and includes on-site parking for 12 vehicles, with additional parking available in the surrounding mall lot. Commercial zoning and public water and sewer support a range of retail-oriented operations.
The building is positioned as an outparcel of Boscov Mall Shopping Center at 2235 W Cumberland Street in Lebanon, Pennsylvania. Route 422 frontage provides exposure along a principal roadway through Lebanon County, with reported traffic of 19,500 cars per day. The mall setting adds access to shared parking and the customer activity generated by the shopping center.
The building is positioned as an outparcel of Boscov Mall Shopping Center at 2235 W Cumberland Street in Lebanon, Pennsylvania. Route 422 frontage provides exposure along a principal roadway through Lebanon County, with reported traffic of 19,500 cars per day. The mall setting adds access to shared parking and the customer activity generated by the shopping center.
Key Highlights
- 3,656‑square‑foot retail building on a 22,216‑square‑foot corner lot
- 0.51‑acre parcel positioned as an outparcel of Boscov Mall Shopping Center
- Located along Rt.422 with 19,500 cars passing per day
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
$34,357
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
3.84%
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%
$687,140
$687.1K
Cap Rate 7%
$490,814
$490.8K
Cap Rate 9%
$381,744
$381.7K
Market Conditions
NOI Build-Up for 3,656 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
$54.8K $15.00/SF
− Vacancy
−$5.8K −$1.58/SF
EGI
$49.1K $13.43/SF
− OpEx
−$14.7K −$4.03/SF
NOI
$34.4K $9.40/SF
Area
Lebanon County, PA
Vacancy
10.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$687,140
Cap Rate 7%
$490,814
Cap Rate 9%
$381,744
Alternative Uses
Best Use
Retail
$490.8K
$429.5K – $572.6K
NOI $34,357 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$858.1K
$750.9K – $1.00M
NOI $60,070 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19,500 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 17042, PA
40,618
Population
17,067
Households
2.4
Avg Household Size
43
Median Age
28%
College-Educated
88%
High-School Grad
67.7 sq mi
ZIP Area
600
Density / Sq Mi
$76,399
Median Household Income
$45,429
Median Earnings
$1,096
Median Rent
$222,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial storefront with public water, public sewer, on-site parking, and access to overflow parking at the adjacent shopping center.
Where is this storefront property located?
The property is located at 2235 W CUMBERLAND STREET Lebanon, PA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 3,656‑square‑foot retail building on a 22,216‑square‑foot corner lot; 0.51‑acre parcel positioned as an outparcel of Boscov Mall Shopping Center; Located along Rt.422 with 19,500 cars passing per day
