Building Details

Year Built 1950

Listing Agency: Iron Valley Real Estate c***@ironvalleyrealestate.com Show Phone

Listed By: Jocelyn Shay · License #RS323417 Show Phone

Source: Cummingsrealtors

Added: Jul 30 Changed: Nov 1 Last Checked: Nov 3 at 6:40AM

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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 Iron Valley Real Estate

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Investment Insights

Based on property information with market context.

Originally built in 1950, this converted warehouse contains 8 apartments, 8 storage units, and a full walk-out basement. The residential mix includes two 3-bedroom, 2-bath apartments, four 2-bedroom, 2-bath apartments, and two 2-bedroom, 1-bath apartments. Seven apartments feature renovations such as luxury vinyl plank flooring, custom cabinetry, granite countertops, stainless steel appliances, recessed lighting, and updated kitchens and baths. One apartment remains available for full renovation. Each unit has its own furnace and hot water heater, while the building also includes keypad entry, a sprinkler system, and a common-area coin-operated laundry facility.

Located at 236 W Market Street in Jonestown, the property is minutes from Interstate 81, providing access to Harrisburg, Lebanon, Hershey, and surrounding employment centers. The basement offers additional space for storage units, warehouse use, or other uses subject to required approvals.

Key Highlights

• 8 apartments with a mix of 3‑bedroom and 2‑bedroom floor plans
• 7 of 8 apartments renovated with updated kitchens, baths, and modern finishes
• 8 storage units, including two currently leased

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$108,893

Cap Rate

8.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,177,860 $2.2M

Cap Rate 7%

$1,555,614 $1.6M

Cap Rate 9%

$1,209,922 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,672 SF

Gross rent

$167.3K $13.20/SF

− Vacancy

−$11.7K −$0.92/SF

EGI

$155.6K $12.28/SF

− OpEx

−$46.7K −$3.68/SF

NOI

$108.9K $8.59/SF

Area

Lebanon County, PA

Vacancy

7.00%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,177,860

Cap Rate 7%

$1,555,614

Cap Rate 9%

$1,209,922

Alternative Uses

Best Use

Mixed Use

$1.83M

$1.60M – $2.14M (±1% cap)

NOI $128,304 @ 7.0% cap · market cap 9.87%

Second Best

Self Storage

$1.56M

$1.36M – $1.81M (±1% cap)

NOI $108,893 @ 7.0% cap · market cap 8.38%

Theoretical Best

Office A

$2.97M

$2.60M – $3.47M (±1% cap)

NOI $208,206 @ 7.0% cap · market cap 16.02%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Self storage facilities

Suggested Use

Top Pick Real Estate Agency Building Supply Restaurant Big Box & Wholesale Store HVAC Service Auto Parts 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

8

Residential units

Yes

Sprinkler system

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

178

Businesses Nearby

Explore this area Business Placement

Demographics for 17038, PA

7,842

Population

3,460

Households

2.3

Avg Household Size

42

Median Age

16%

College-Educated

89%

High-School Grad

66.2 sq mi

ZIP Area

118

Density / Sq Mi

$66,698

Median Household Income

$42,929

Median Earnings

$922

Median Rent

$241,100

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?

Apartment building - Apartment property combines updated interiors with storage and expansion space.

Where is this apartment building located?

The property is located at 236 W MARKET STREET Jonestown, PA.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: 8 apartments with a mix of 3‑bedroom and 2‑bedroom floor plans; 7 of 8 apartments renovated with updated kitchens, baths, and modern finishes; 8 storage units, including two currently leased