Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Medical Office Condo For Sale Title is generated by Realmo AI

    250 Fame Ave, Hanover, PA 17331

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Turn-key medical office suite in Hillside Medical Center.

    Type:Office
    Property size:
    10,000 SF
    Price / SF:
    $149/SF
    Added:
    Jul 22, 2024
    Days on Market:
    681
    Last Refresh:
    May 13 at 8:13 pm

    Property Features for 250 Fame Ave

    General Information

    Standard status
    Active
    Size
    10,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    2003

    We can help!

    Listing Contact
    Michael Curran, SIOR

    Listing agent Michael Curran, SIOR License #PA RS300532

    Listing office Landmark Commercial Realty

    Listing date Jul 22, 2024

    Source Crexi

    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 Landmark Commercial Realty

    HighLights

    • Turn‑key, Class‑A medical office space spanning 10,000 SF
    • Excellent location at the intersection of West Eisenhower Drive and Broadway (PA‑194)
    • Situated in Hillside Medical Center alongside high‑profile tenants
    • Ample exam rooms, procedure/operating rooms, restrooms, recovery lounges, locker rooms & showers included
    • Features a conference room, private offices, reception & waiting room
    • Private exterior access

    Overview

    This is a 10,000 SF class-A medical office condo available for purchase or lease within Hillside Medical Center. The turn-key space features ample exam rooms, procedure/operating rooms, restrooms, recovery lounges, locker rooms & showers, a conference room, private offices, a reception & waiting room, ample storage, and private exterior access. The property benefits from a high-profile location at the intersection of West Eisenhower Drive and Broadway (PA-194). Current tenants include UPMC Hanover Hospital Services, Lebo Skin Care Centers, The Retina Care Center, and Maryland Vascular Specialists. This property is located at 250 Fame Ave, Hanover, PA 17331.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lébo Aesthetics & Spa- ... Hair Salon Hanover Health Corporation Hospital Pulmonary Diagnostic Services Medical Clinic PCDSM Dental Office Mecca Lasik: Chaudhry ... Dental Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Petco Vaccination Clinic — 416 Eisenhower Dr Hanover Cmns, Hanover Commons, Hanover, PA 17331

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    York
    State
    Pennsylvania
    Longitude
    -76.9687539
    Latitude
    39.8252104

    Nearby Similar for Sale

    • $285,000
      2,674 SF

      Hanover Borough Multi-Unit Investment

      Two-unit property with income potential in Hanover, Pennsylvania.
      1228 BROADWAY, HANOVER, PA 17331
      View Details
    • $425,000
      6,891 SF

      Downtown Hanover Mixed-Use Investment

      Mixed-use building with retail and residential units in Hanover.
      318 CARLISLE Street, HANOVER, PA 17331
      View Details
    • $325,000

      Versatile Commercial Property in Hanover

      Unique property suitable for retail, office, or residential conversion.
      119 BALTIMORE Street, HANOVER, PA 17331
      View Details
    • $355,000
      2,955 SF

      Commercial Property on Baltimore Street

      Commercial property for sale on Baltimore Street in Hanover, PA.
      119 Baltimore St, Hanover, PA 17331
      View Details
    • $949,000
      12,491 SF

      Medical Office Space For Sale

      12,491 SqFt medical office space available for purchase.
      864 Broadway, Hanover, PA 17331
      View Details
    • $1,200,000
      2,939 SF

      Adams County Farmland Opportunity

      2939 sqft Adams County farmland for sale.
      15 Maple Grove Rd, Hanover, PA 17331
      View Details
    • $255,000
      1,834 SF

      Hanover Duplex with Garage

      Brick duplex in Southwestern school district with detached two-car garage.
      819 York Street, Hanover, PA 17331
      View Details
    • $6,000,000
      85,320 SF

      Hanover PA Industrial Investment Property

      Well-maintained industrial property with manufacturing and warehouse tenants.
      262 Church St, Hanover, PA 17331
      View Details
    • $1,250,000
      29,100 SF

      Multi-Purpose Building For Sale

      Three-story, approximately 29,100 SF multi-purpose building requiring total rehabilitation.
      138 E Hanover St, Hanover, PA 17331
      View Details
    • $230,000
      2,515 SF

      Hanover Duplex with Steady Income

      Income-generating duplex with reliable tenants and convenient amenities.
      209 North 3rd Street, Hanover, PA 17331
      View Details
    • $395,000

      Hanover Commercial Shop with Bays

      7-bay commercial shop near downtown Hanover, suitable for various uses.
      410 Broadway, Hanover, PA
      View Details
    • Contact for pricing
      43,200 SF

      Two-Property Medical Portfolio For Sale

      Class A outpatient medical assets in Pennsylvania & Ohio.
      2201 BRUNSWICK DR, HANOVER, PA
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Turn-key medical office suite in Hillside Medical Center.
    Where is this medical office space located?
    The property is located at 250 Fame Ave Hanover, PA.
    What is the asking price?
    The asking price for this property is $1,499,000.
    What are key features of this property?
    This property features: Turn‑key, Class‑A medical office space spanning 10,000 SF; Excellent location at the intersection of West Eisenhower Drive and Broadway (PA‑194); Situated in Hillside Medical Center alongside high‑profile tenants
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael Curran, SIOR
    Real Estate License ID: PA RS300532
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    250 Fame Ave, Hanover, PA 17331
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!