Freestanding Office
For Sale
Contact for pricing
4669 Jonestown Road, Harrisburg, PA 17109
Two-level commercial property with a leased residential apartment above flexible business space.
Property Size4,676 SF
Price / SF$160.39
Days on Market25
Property Features for 4669 Jonestown Road
General Information
Standard status
Active
Size
4,676 SF
Class
B
Total Parking Spaces
12
Property subtype
Retail
Zoning
CG - Commercial General
Building Details
Year Built
1970
Buildings
1
Stories
2
Tenancy
Multi
Building Size
4,676 SF
Listing Agency:
Landmark Commercial Realty
Listed By:
Thomas Posavec · License #PA
(717) 731-1990
Source:
Crexi
Added: Aug 19
Changed: Sep 10
Last Checked: Sep 11 at 7:42AM
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 freestanding office building contains 4,676 square feet and is arranged across two levels. The property includes flexible commercial space that can accommodate office, retail, service, or other business functions, along with a leased residential apartment on the second floor.
The property is positioned at 4669 Jonestown Road in Harrisburg, within the Harrisburg East submarket. Its location near the Jonestown Road commercial corridor provides direct access to an established business area described as heavily traveled, with visibility from the surrounding roadway. The combination of commercial space and an existing residential component creates a mixed-use configuration within a single building.
The property is positioned at 4669 Jonestown Road in Harrisburg, within the Harrisburg East submarket. Its location near the Jonestown Road commercial corridor provides direct access to an established business area described as heavily traveled, with visibility from the surrounding roadway. The combination of commercial space and an existing residential component creates a mixed-use configuration within a single building.
Key Highlights
- 4,676 SF freestanding office building
- Leased residential apartment on the second floor
- Located near the heavily traveled Jonestown Road corridor in Harrisburg, PA
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
$60,090
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
8.01%
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%
$1,201,800
$1.2M
Cap Rate 7%
$858,429
$858.4K
Cap Rate 9%
$667,667
$667.7K
Market Conditions
NOI Build-Up for 4,676 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
$93.7K $20.04/SF
− Vacancy
−$13.6K −$2.91/SF
EGI
$80.1K $17.13/SF
− OpEx
−$20.0K −$4.28/SF
NOI
$60.1K $12.85/SF
Area
Dauphin County, PA
Vacancy
14.50%
Lease Rate
$20.04 /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%
$1,201,800
Cap Rate 7%
$858,429
Cap Rate 9%
$667,667
Alternative Uses
Best Use
Office B
$858.4K
$751.1K – $1.00M
NOI $60,090 @ 7.0% cap · market cap 8.01%
Second Best
Mixed Use
$811.6K
$710.2K – $946.9K
NOI $56,813 @ 7.0% cap · market cap 7.58%
Theoretical Best
Specialty Retail
$8.61M
$7.54M – $10.05M
NOI $602,853 @ 7.0% cap · market cap 80.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
Explore this area
Business Placement
Demographics for 17109, PA
25,232
Population
11,808
Households
2.1
Avg Household Size
39
Median Age
29%
College-Educated
92%
High-School Grad
7.0 sq mi
ZIP Area
3,605
Density / Sq Mi
$70,618
Median Household Income
$42,908
Median Earnings
$1,234
Median Rent
$203,200
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Two-level commercial property with a leased residential apartment above flexible business space.
Where is this office building located?
The property is located at 4669 Jonestown Road Harrisburg, PA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 4,676 SF freestanding office building; Leased residential apartment on the second floor; Located near the heavily traveled Jonestown Road corridor in Harrisburg, PA
