High-Bay Warehouse and
New
For Sale
$11,000,000
230 S 10th Street, Lemoyne, PA 17043
Industrial property combines multiple warehouse configurations with dedicated office space.
Property Size105,960 SF
Price / SF$103.81
Days on Market1
Property Features for 230 S 10th Street
General Information
Standard status
Active
Size
105,960 SF
Property subtype
Industrial
Additional Details
Office Build-Out
13,644 SF
Building Details
Building Size
105,960 SF
Year Built
1975
Listing Agency:
NAI CIR
Listed By:
Daniel J. Alderman · License #PA #RS134079A
(717) 579-2052
Source:
Circommercial
Added: Sep 19
Last Checked: Sep 19 at 5:33AM
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 NAI CIR
Investment Insights
Based on property information with market context.
The 105,960 SF industrial property at 230 S. 10th Street includes 82,260 SF of high-bay warehouse area, 9,600 SF of low-bay warehouse area, and 13,644 SF of office space. Office space includes 2,022 SF on the first floor and 11,622 SF on the second floor. Built in 1975, the building offers a substantial combination of warehouse and administrative areas.
Warehousing is not specifically permitted under the applicable zoning, and proposed use should be reviewed with Lemoyne Borough. The property is subject to a Coca-Cola (ABARTA) lease expiring December 31, 2027.
Warehousing is not specifically permitted under the applicable zoning, and proposed use should be reviewed with Lemoyne Borough. The property is subject to a Coca-Cola (ABARTA) lease expiring December 31, 2027.
Key Highlights
- 82,260 SF of high‑bay warehouse space
- 9,600 SF of low‑bay warehouse space
- 13,644 SF of office space, including 2,022 SF on the first floor and 11,622 SF on the second floor
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
$723,471
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
6.58%
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%
$14,469,420
$14.5M
Cap Rate 7%
$10,335,300
$10.3M
Cap Rate 9%
$8,038,567
$8.0M
Market Conditions
NOI Build-Up for 105,960 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
$892.2K $8.42/SF
− Vacancy
−$41.0K −$0.39/SF
EGI
$851.1K $8.03/SF
− OpEx
−$127.7K −$1.20/SF
NOI
$723.5K $6.83/SF
Area
Cumberland County, PA
Vacancy
4.60%
Lease Rate
$8.42 /SF/Yr
Expense Ratio
15.00%
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%
$14,469,420
Cap Rate 7%
$10,335,300
Cap Rate 9%
$8,038,567
Alternative Uses
Best Use
Warehouse
$10.34M
$9.04M – $12.06M
NOI $723,471 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$24.61M
$21.54M – $28.72M
NOI $1,722,960 @ 7.0% cap · market cap 15.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
945
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 17043, PA
6,184
Population
3,037
Households
2
Avg Household Size
41
Median Age
37%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
2,945
Density / Sq Mi
$66,752
Median Household Income
$46,436
Median Earnings
$968
Median Rent
$216,300
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial property combines multiple warehouse configurations with dedicated office space.
Where is this warehouse located?
The property is located at 230 S 10th Street Lemoyne, PA.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: 82,260 SF of high‑bay warehouse space; 9,600 SF of low‑bay warehouse space; 13,644 SF of office space, including 2,022 SF on the first floor and 11,622 SF on the second floor
