Middletown Auto Center
For Sale
Contact for pricing
405 Spruce St, Middletown, PA 17057
Auto center for sale in growing Middletown location.
Property Size2,480 SF
Price / SF$141.13
Days on Market1648
Property Features for 405 Spruce St
General Information
Standard status
Active
Size
2,480 SF
Class
B
Total Parking Spaces
25
Property subtype
Retail
Zoning
Commercial Highway
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1952
Year Renovated
2022
Buildings
1
Stories
1
Units
1
Listing Agency:
Landmark Commercial Realty
Listed By:
Trey Brakefield · License #PA
(717) 524-9852
Source:
Crexi
Added: Apr 14, 2022
Changed: Oct 9
Last Checked: Oct 16 at 9:27AM
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
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Investment Insights
Based on property information with market context.
This auto center presents an opportunity for purchase or lease in a central Middletown location. Situated near Penn State Harrisburg, the property benefits from the university's ongoing growth, attracting students, faculty, administrators, and corporate partners. The campus is recognized as the fastest-growing within the Penn State system and serves as a hub for the Harrisburg Market Keystone Innovation Zone, potentially offering tax incentives for eligible businesses. The property's location near Harrisburg International Airport (HIA) provides additional advantages, as HIA expands and modernizes its facilities to support air travelers and air freight services. Middletown has experienced consistent economic growth since 1980, with projections indicating continued expansion. The property size is 2480 square feet.
Key Highlights
- Prime location in the central Middletown area.
- Proximity to the rapidly growing Penn State Harrisburg campus.
- Located within the Harrisburg Market Keystone Innovation Zone, potentially offering tax incentives.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,868
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$497,360
$497.4K
Cap Rate 7%
$355,257
$355.3K
Cap Rate 9%
$276,311
$276.3K
Market Conditions
NOI Build-Up for 2,480 SF
Gross rent
$37.2K $15.00/SF
− Vacancy
−$1.7K −$0.68/SF
EGI
$35.5K $14.33/SF
− OpEx
−$10.7K −$4.30/SF
NOI
$24.9K $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 Rate 5%
$497,360
Cap Rate 7%
$355,257
Cap Rate 9%
$276,311
Alternative Uses
Best Use
Industrial
$2.37M
$2.07M – $2.76M
NOI $165,758 @ 7.0% cap · market cap 47.36%
Second Best
Retail
$355.3K
$310.9K – $414.5K
NOI $24,868 @ 7.0% cap · market cap 7.11%
Theoretical Best
Specialty Retail
$4.57M
$4.00M – $5.33M
NOI $319,734 @ 7.0% cap · market cap 91.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17057, PA
23,112
Population
10,513
Households
2.2
Avg Household Size
39
Median Age
27%
College-Educated
94%
High-School Grad
31.1 sq mi
ZIP Area
743
Density / Sq Mi
$70,536
Median Household Income
$42,948
Median Earnings
$1,122
Median Rent
$187,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Hertz — 3 Terminal Drive, Middletown, PA 17057, United States
- Middletown Care-A-Van — 452 E Main St, Middletown, PA 17057
Frequently Asked Questions
What type of property is this?
Automotive property - Auto center for sale in growing Middletown location.
Where is this automotive property located?
The property is located at 405 Spruce St Middletown, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Prime location in the central Middletown area.; Proximity to the rapidly growing Penn State Harrisburg campus.; Located within the Harrisburg Market Keystone Innovation Zone, potentially offering tax incentives.
