NNN Retail Building with Pizza
For Sale
$395,000
250 S CHERRY Alley, Elizabethtown, PA 17022
Commercial Sale, ELIZABETHTOWN, PA
Property Size2,683 SF
Lot Size0.16 Acres
Price / SF$147.22
Days on Market8
Property Features for 250 S CHERRY Alley
General Information
Property type
Other
Property subtype
Retail
Parking
8
Subdivision
ELIZABETHTOWN
Elementary school district
ELIZABETHTOWN AREA
Middle school district
ELIZABETHTOWN AREA
High school district
ELIZABETHTOWN AREA
Standard status
Active
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
5054
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1960
Building materials
Brick, Masonry
Listing Agency:
Bennett Williams Realty, Inc.
(717) 843-5555
Listed By:
Joshua Miller · License #RS365967
(717) 383-6647
Added: Sep 29
Last Checked: Oct 6 at 3:06PM
MLS# PALA2096288
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 freestanding, 2,683-square-foot brick and masonry building dates to 1960. Papa John's Pizza occupies the property under a renewed five-year lease, with two additional five-year options and a 10% rent increase after the initial term. The lease is structured as NNN. Approximately 1,300 square feet may suit partial owner occupancy or an additional tenant. A roof and sealant installation completed in 2022 carries a 10-year warranty.
The property is zoned for Central Business District use and sits on a 0.16-acre lot at 250 S. Cherry Alley in Elizabethtown, Pennsylvania.
The property is zoned for Central Business District use and sits on a 0.16-acre lot at 250 S. Cherry Alley in Elizabethtown, Pennsylvania.
Key Highlights
- Papa John's Pizza tenant with a renewed five‑year lease and two additional five‑year options
- NNN lease structure with a 10% rent increase after the initial term
- 2,683‑square‑foot freestanding building, including approximately 1,300 square feet suited to owner occupancy or another tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,575
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$631,500
$631.5K
Cap Rate 7%
$451,071
$451.1K
Cap Rate 9%
$350,833
$350.8K
Market Conditions
NOI Build-Up for 2,683 SF
Gross rent
$48.3K $18.00/SF
− Vacancy
−$3.2K −$1.19/SF
EGI
$45.1K $16.81/SF
− OpEx
−$13.5K −$5.04/SF
NOI
$31.6K $11.77/SF
Area
Lancaster County, PA
Vacancy
6.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$631,500
Cap Rate 7%
$451,071
Cap Rate 9%
$350,833
Alternative Uses
Best Use
Retail
$451.1K
$394.7K – $526.3K
NOI $31,575 @ 7.0% cap · market cap 7.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$899.1K
$786.7K – $1.05M
NOI $62,936 @ 7.0% cap · market cap 15.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
780
Businesses Nearby
56k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 39%
Home Improvements & Furnishings 6%
Dunkin' Donuts
Dining
12,765 visits/mo
0.4 miles
Taco Bell
Dining
12,162 visits/mo
0.4 miles
Turkey Hill Minit Market
Shops & Services
8,993 visits/mo
0.2 miles
Advance Auto Parts
Shops & Services
4,453 visits/mo
0.4 miles
Truist
Shops & Services
3,413 visits/mo
0.1 miles
Demographics for 17022, PA
31,163
Population
12,950
Households
2.4
Avg Household Size
42
Median Age
33%
College-Educated
93%
High-School Grad
55.0 sq mi
ZIP Area
567
Density / Sq Mi
$79,075
Median Household Income
$42,844
Median Earnings
$1,381
Median Rent
$272,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
NNN property - A separate area may accommodate partial owner occupancy or an additional tenant alongside the existing leased space.
Where is this nnn property located?
The property is located at 250 S CHERRY Alley Elizabethtown, PA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Papa John's Pizza tenant with a renewed five‑year lease and two additional five‑year options; NNN lease structure with a 10% rent increase after the initial term; 2,683‑square‑foot freestanding building, including approximately 1,300 square feet suited to owner occupancy or another tenant
