Renovated Office Building with
For Sale
Contact for pricing
2870 Eastern Blvd, York, PA 17402
Fully renovated office property with two floors, a finished lower level, elevator access, and on-site parking.
Property Size19,800 SF
Lot Size1.42 Acres
Price / SF$221.46
Days on Market301
Property Features for 2870 Eastern Blvd
General Information
Standard status
Active
Size
19,800 SF
Class
Class A
Total Parking Spaces
89
Elevators
Yes
Lot size
1.42 Acres
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Building Details
Year Built
1972
Year Renovated
2025
Buildings
1
Stories
3
Building Size
19,800 SF
Listing Agency:
Rock Commercial Real Estate
(717) 854-8367
Listed By:
David L. Bode · License #RM423009
Source:
Moodyscre
Added: Nov 4, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:56PM
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 Rock Commercial Real Estate
Investment Insights
Based on property information with market context.
This office building offers 19,800 square feet across two floors, plus a finished lower level connected by elevator. Originally constructed in 1972, the property underwent a full renovation in August 2025. The building sits on 1.42 acres and includes on-site parking for 89 vehicles.
Positioned at the corner of Eastern Boulevard and Cortleigh Drive in York, the property provides access to I-83, Route 30, Route 462, and Route 24. Its multi-level configuration and updated interior support a range of professional office layouts.
Positioned at the corner of Eastern Boulevard and Cortleigh Drive in York, the property provides access to I-83, Route 30, Route 462, and Route 24. Its multi-level configuration and updated interior support a range of professional office layouts.
Key Highlights
- 19,800 square feet across two floors plus a finished lower level
- Elevator access connects the building’s levels
- Fully renovated in August 2025; originally built in 1972
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
$315,671
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
7.20%
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%
$6,313,420
$6.3M
Cap Rate 7%
$4,509,586
$4.5M
Cap Rate 9%
$3,507,456
$3.5M
Market Conditions
NOI Build-Up for 19,800 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
$434.8K $21.96/SF
− Vacancy
−$13.9K −$0.70/SF
EGI
$420.9K $21.26/SF
− OpEx
−$105.2K −$5.31/SF
NOI
$315.7K $15.94/SF
Area
York County, PA
Vacancy
3.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$6,313,420
Cap Rate 7%
$4,509,586
Cap Rate 9%
$3,507,456
Alternative Uses
Best Use
Office B
$4.51M
$3.95M – $5.26M
NOI $315,671 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.73M
$5.02M – $6.69M
NOI $401,296 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 17402, PA
36,978
Population
14,751
Households
2.5
Avg Household Size
43
Median Age
35%
College-Educated
91%
High-School Grad
18.7 sq mi
ZIP Area
1,977
Density / Sq Mi
$77,134
Median Household Income
$46,039
Median Earnings
$1,307
Median Rent
$247,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully renovated office property with two floors, a finished lower level, elevator access, and on-site parking.
Where is this office building located?
The property is located at 2870 Eastern Blvd York, PA.
What is the asking price?
The asking price for this property is $4,385,000.
What are key features of this property?
This property features: 19,800 square feet across two floors plus a finished lower level; Elevator access connects the building’s levels; Fully renovated in August 2025; originally built in 1972
