Eight-Unit Apartment
For Sale
$2,320,000
238 Centennial Avenue, Hanover, PA 17331
Construction-stage project with separately metered utilities and tenant-maintained exteriors.
Property Size11,200 SF
Price / SF$207.14
Days on Market62
Property Features for 238 Centennial Avenue
General Information
Standard status
Active
Size
11,200 SF
Property subtype
Commercial
Lease Term
[]
Additional Details
Asking Price
$2,080,000
Multifamily Units
8
Building Details
Year Built
2026
Buildings
2
Stories
3
Construction
craftsman-influenced
Listing Agency:
Clear Multifamily LLC
Listed By:
Naomi E Brown · License #RM426301
(717) 820-1127
Source:
Deepcreeklake
Added: Aug 28
Changed: Oct 27
Last Checked: Oct 26 at 4:11PM
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 Clear Multifamily LLC
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Investment Insights
Based on property information with market context.
Centennial Court is a construction-stage apartment development at 238 Centennial Avenue in Hanover, Pennsylvania. The architect-designed project includes two four-unit buildings totaling 11,200 square feet, with each residence offering 1,400 SF across three stories. Planned layouts include three bedrooms, two bathrooms, a first-floor family room, dining room, kitchen, mudroom, powder room, private front porch, and rear patio. Exterior materials include stone veneer, board-and-batten siding, and pitched gable rooflines.
All utilities are separately metered and paid by tenants, while tenants maintain the exteriors. Designed by Duckham Architecture & Interiors, the development carries a 2026 year built designation and is positioned on Centennial Avenue in the borough of Hanover, York County, Pennsylvania. The project is within walking distance of Hanover’s commercial core, parks, and community amenities.
All utilities are separately metered and paid by tenants, while tenants maintain the exteriors. Designed by Duckham Architecture & Interiors, the development carries a 2026 year built designation and is positioned on Centennial Avenue in the borough of Hanover, York County, Pennsylvania. The project is within walking distance of Hanover’s commercial core, parks, and community amenities.
Key Highlights
- Eight‑unit apartment development comprising two four‑unit buildings
- 11,200 square feet across two buildings
- Each unit offers 1,400 SF across three stories
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$103,229
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,064,580
$2.1M
Cap Rate 7%
$1,474,700
$1.5M
Cap Rate 9%
$1,146,989
$1.1M
Market Conditions
NOI Build-Up for 11,200 SF
Gross rent
$197.6K $17.64/SF
− Vacancy
−$9.9K −$0.88/SF
EGI
$187.7K $16.76/SF
− OpEx
−$84.5K −$7.54/SF
NOI
$103.2K $9.22/SF
Area
York County, PA
Vacancy
5.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,064,580
Cap Rate 7%
$1,474,700
Cap Rate 9%
$1,146,989
Alternative Uses
Best Use
Apartment 5plus
$1.47M
$1.29M – $1.72M
NOI $103,229 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $226,995 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,180
Businesses Nearby
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Business Placement
Demographics for 17331, PA
55,458
Population
23,528
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
90%
High-School Grad
74.4 sq mi
ZIP Area
745
Density / Sq Mi
$76,661
Median Household Income
$45,168
Median Earnings
$1,127
Median Rent
$228,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Construction-stage project with separately metered utilities and tenant-maintained exteriors.
Where is this apartment building located?
The property is located at 238 Centennial Avenue Hanover, PA.
What is the asking price?
The asking price for this property is $2,320,000.
What are key features of this property?
This property features: Eight‑unit apartment development comprising two four‑unit buildings; 11,200 square feet across two buildings; Each unit offers 1,400 SF across three stories
