Corner Retail Space Near
New
For Sale
$895,000
2235 W CUMBERLAND Street, Lebanon, PA 17042
Commercial Sale, LEBANON, PA
Property Size3,656 SF
Lot Size0.51 Acres
Price / SF$244.80
Days on Market2
Property Features for 2235 W CUMBERLAND Street
General Information
Property type
Other
Property subtype
Retail
Parking
12
Parking features
Parking Lot
Subdivision
NONE AVAILABLE
Elementary school district
CORNWALL-LEBANON
Middle school district
CORNWALL-LEBANON
High school district
CORNWALL-LEBANON
Standard status
Active
Lot size
0.51 Acres
Taxes and HOA fees
Tax Annual Amount
10446
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1960
Building materials
Frame, Masonry
Listing Agency:
Suburban Realty
(717) 867-4487
Listed By:
SHERRI KILLINGER · License #AB065199
(717) 507-6205
Added: Sep 2
Last Checked: Sep 3 at 6:06AM
MLS# PALN2028506
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail property occupies a 0.51-acre corner parcel within the Boscov Mall Shopping Center outparcel network. The building was originally constructed as a bank and includes frame and masonry construction, forced-air heating, and central air conditioning. On-site parking is provided in a dedicated lot, with additional capacity available in the mall parking area.
The property fronts Rt. 422, a principal roadway through Lebanon County carrying 19,500 cars per day. Commercial zoning, public water, and public sewer support a range of retail and service-oriented uses. Its placement alongside an established shopping center provides direct context within an active commercial setting.
The property fronts Rt. 422, a principal roadway through Lebanon County carrying 19,500 cars per day. Commercial zoning, public water, and public sewer support a range of retail and service-oriented uses. Its placement alongside an established shopping center provides direct context within an active commercial setting.
Key Highlights
- 22,216 square foot corner lot on 0.51 acres
- Located along Rt. 422 with 19,500 cars passing per day
- Outparcel of the Boscov Mall Shopping Center
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
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?
Retail space - Commercially zoned corner property with mall overflow parking, public utilities, and access along a major county route.
Where is this retail space 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: 22,216 square foot corner lot on 0.51 acres; Located along Rt. 422 with 19,500 cars passing per day; Outparcel of the Boscov Mall Shopping Center
