Turnkey Pizza Restaurant
For Sale
Contact for pricing
39 RICHARD AVENUE, Shippensburg, PA 17257
Fully built-out restaurant with dining area, kitchen infrastructure, and customer service space for pizza and other concepts.
Property Size1,350 SF
Price / SF$1.78
Days on Market95
Property Features for 39 RICHARD AVENUE
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Commercial
Building Details
Year Built
1776
Listing Agency:
Sterling Property Management, Inc..
(717) 258-5800
Listed By:
Brock M Piper · License #RS375768
(717) 440-7129
Source:
Cummingsrealtors
Added: Jul 20
Changed: Oct 21
Last Checked: Oct 20 at 9:18PM
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 Sterling Property Management, Inc..
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Investment Insights
Based on property information with market context.
Fully built-out restaurant space at 39 Richard Avenue in Shippensburg, currently operating as a pizza shop. The space includes an established restaurant layout with a dining area, kitchen infrastructure, and customer service space already in place, supporting a smooth move-in for food service operations.
Positioned in the heart of a student housing corridor near Shippensburg University, the property is surrounded by a dense concentration of student housing. The setting is intended to provide visibility and convenient access to an on-going local customer base.
Positioned in the heart of a student housing corridor near Shippensburg University, the property is surrounded by a dense concentration of student housing. The setting is intended to provide visibility and convenient access to an on-going local customer base.
Key Highlights
- Fully built‑out restaurant space with dining area, kitchen infrastructure, and customer service space
- Currently operating as a pizza shop with an established restaurant layout in place
- Year built: 1776
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,924
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,480
$278.5K
Cap Rate 7%
$198,914
$198.9K
Cap Rate 9%
$154,711
$154.7K
Market Conditions
NOI Build-Up for 1,350 SF
Gross rent
$19.4K $14.40/SF
− Vacancy
−$875 −$0.65/SF
EGI
$18.6K $13.75/SF
− OpEx
−$4.6K −$3.44/SF
NOI
$13.9K $10.31/SF
Area
Cumberland County, PA
Vacancy
4.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,480
Cap Rate 7%
$198,914
Cap Rate 9%
$154,711
Alternative Uses
Best Use
Specialty Retail
$198.9K
$174.1K – $232.1K
NOI $13,924 @ 7.0% cap · market cap 580.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$313.6K
$274.4K – $365.9K
NOI $21,952 @ 7.0% cap · market cap 914.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
44k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 22%
Home Improvements & Furnishings 9%
Hotels & Casinos 8%
McDonald's
Dining
26,612 visits/mo
0.3 miles
Members 1st Federal Credit Union
Shops & Services
9,525 visits/mo
0.3 miles
Pague & Fegan True Value
Home Improvements & Furnishings
3,787 visits/mo
0.4 miles
Clarion Hotel
Hotels & Casinos
3,644 visits/mo
0.4 miles
Demographics for 17257, PA
28,673
Population
11,528
Households
2.5
Avg Household Size
34
Median Age
23%
College-Educated
88%
High-School Grad
115.2 sq mi
ZIP Area
249
Density / Sq Mi
$71,504
Median Household Income
$37,061
Median Earnings
$1,058
Median Rent
$219,200
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
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully built-out restaurant with dining area, kitchen infrastructure, and customer service space for pizza and other concepts.
Where is this conventional restaurant located?
The property is located at 39 RICHARD AVENUE Shippensburg, PA.
What are key features of this property?
This property features: Fully built‑out restaurant space with dining area, kitchen infrastructure, and customer service space; Currently operating as a pizza shop with an established restaurant layout in place; Year built: 1776
