5-Bay Auto Repair
For Sale
Contact for pricing
2501 Herr Street, Harrisburg, PA 17103
Renovated automotive property with service operations, customer reception, and commercial zoning.
Property Size4,000 SF
Lot Size0.74 Acres
Price / SF$162.50
Days on Market133
Property Features for 2501 Herr Street
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
75
Lot size
0.74 Acres
Property subtype
Retail
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Service Bays
5
Amenities
Office
Building Details
Year Renovated
2024
Buildings
1
Listing Agency:
Realty Management Associates LLC
Listed By:
Todd Decker · License #PA RS296210
Source:
Crexi
Added: Apr 22
Changed: Aug 30
Last Checked: Aug 30 at 12:02AM
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 Realty Management Associates LLC
Investment Insights
Based on property information with market context.
This commercial automotive property combines a renovated service facility with customer-facing areas and a separate garage component. The improvements include five service bays, a waiting and reception area, two restrooms, and an office component. The property is suited to auto repair, vehicle sales, and related automotive operations, with capacity for approximately 75 vehicles.
Located on Herr Street in Harrisburg, the property offers access to I-83, I-81, I-581, Route 322, and the Pennsylvania Turnpike. Downtown Harrisburg, the Pennsylvania State Capitol Complex, and the Harrisburg Transportation Center are within minutes. Commercial zoning supports the property’s automotive-oriented configuration.
Located on Herr Street in Harrisburg, the property offers access to I-83, I-81, I-581, Route 322, and the Pennsylvania Turnpike. Downtown Harrisburg, the Pennsylvania State Capitol Complex, and the Harrisburg Transportation Center are within minutes. Commercial zoning supports the property’s automotive-oriented configuration.
Key Highlights
- Five service bays with a renovated automotive facility
- Waiting and reception area plus two restrooms
- Approx. 75‑vehicle lot capacity
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
$40,110
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
6.17%
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%
$802,200
$802.2K
Cap Rate 7%
$573,000
$573.0K
Cap Rate 9%
$445,667
$445.7K
Market Conditions
NOI Build-Up for 4,000 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
$60.0K $15.00/SF
− Vacancy
−$2.7K −$0.68/SF
EGI
$57.3K $14.33/SF
− OpEx
−$17.2K −$4.30/SF
NOI
$40.1K $10.03/SF
Area
Dauphin County, PA
Vacancy
4.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$802,200
Cap Rate 7%
$573,000
Cap Rate 9%
$445,667
Alternative Uses
Best Use
Industrial
$3.82M
$3.34M – $4.46M
NOI $267,352 @ 7.0% cap · market cap 41.13%
Second Best
Retail
$573.0K
$501.4K – $668.5K
NOI $40,110 @ 7.0% cap · market cap 6.17%
Theoretical Best
Specialty Retail
$7.37M
$6.45M – $8.60M
NOI $515,700 @ 7.0% cap · market cap 79.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Service bays
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
13k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
5,887 visits/mo
0.3 miles
Sunoco
Shops & Services
3,732 visits/mo
0.3 miles
76
Shops & Services
3,200 visits/mo
0.3 miles
Demographics for 17103, PA
12,225
Population
5,345
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
86%
High-School Grad
1.9 sq mi
ZIP Area
6,434
Density / Sq Mi
$41,383
Median Household Income
$33,608
Median Earnings
$933
Median Rent
$113,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
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- Apple Auto Glass — 5050 Thomas St, Harrisburg, PA 17110
- Rabold's Services — 2034 Boas St, Harrisburg, PA 17103
Frequently Asked Questions
What type of property is this?
Auto shop - Renovated automotive property with service operations, customer reception, and commercial zoning.
Where is this auto shop located?
The property is located at 2501 Herr Street Harrisburg, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Five service bays with a renovated automotive facility; Waiting and reception area plus two restrooms; Approx. 75‑vehicle lot capacity
