Middletown Auto Center
405 Spruce St Middletown, PA 17057
405 Spruce St, Middletown, PA, 17057
Contact for pricing
For Sale
Contact for pricing
Auto center for sale in growing Middletown location.
Property Size2,480 SF
Price / SF$141.13
Days on Market1556
Property Features for 405 Spruce St
General Information
- Standard status
- Active
- Size
- 2,480 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1952
Listing Agency
Landmark Commercial Realty
Listed by
Bogumila 'Bo' Mangam · License #PA
Source
Crexi
Added: Apr 14, 2022 Checked: Jul 17 at 4:53 am
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
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.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.2k | $15.00 |
| − Vacancy | −$1.7k | −$0.68 |
| EGI | $35.5k | $14.33 |
| − OpEx | −$10.7k | −$4.30 |
| NOI | $24.9k | $10.03 |
2,480 SF · lease $15.00/SF/yr · vacancy 4.50% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Automotive properties
Similar For Sale Nearby
Similar Off Market Nearby
- Middletown Care-A-Van — 452 E Main St, Middletown, PA 17057
- Hertz — 3 Terminal Drive, Middletown, PA 17057, United States
FAQs
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.
