Renovated Multi-Building Office
For Sale
Contact for pricing
4807-4815 Jonestown Road, Harrisburg, PA 17109
A two-story campus serves medical, dental, behavioral health, and professional office users.
Property Size96,246 SF
Price / SF$166.24
Days on Market9
Property Features for 4807-4815 Jonestown Road
General Information
Standard status
Active
Size
96,246 SF
Class
A
Total Parking Spaces
320
Property subtype
Retail, Office, Mixed Use
Zoning
CG — Commercial General
Occupancy
79%
Lease Type
Gross
Investment Type
Value Add
Net Operating Income
$965,000
Building Details
Year Built
1989
Year Renovated
2024
Buildings
4
Stories
2
Units
66
Tenancy
Multi
Listing Agency:
Exp Realty Bkny
(917) 292-5551
Listed By:
VICTOR KRAIEM · License #10401372466
Source:
Crexi
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 9 at 5:56AM
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 Exp Realty Bkny
Investment Insights
Based on property information with market context.
This office complex includes four renovated two-story buildings on 4.66 acres at 4807-4815 Jonestown Road in Harrisburg. Constructed in 1989, the property is configured for medical, dental, behavioral health, and professional office occupancy, with a diversified tenant base and leases extending through 2033.
The property is 79% occupied, with 19,477 square feet remaining for lease-up. CG — Commercial General zoning supports its commercial office setting. Its location along Jonestown Road provides a defined roadside address within the Harrisburg market.
The property is 79% occupied, with 19,477 square feet remaining for lease-up. CG — Commercial General zoning supports its commercial office setting. Its location along Jonestown Road provides a defined roadside address within the Harrisburg market.
Key Highlights
- Four renovated two‑story office buildings on 4.66 acres
- 79% occupied with 19,477 square feet available
- Medical, dental, behavioral health, and professional office tenant mix
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
$1,236,824
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
7.73%
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%
$24,736,480
$24.7M
Cap Rate 7%
$17,668,914
$17.7M
Cap Rate 9%
$13,742,489
$13.7M
Market Conditions
NOI Build-Up for 96,246 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
$1.93M $20.04/SF
− Vacancy
−$279.7K −$2.91/SF
EGI
$1.65M $17.13/SF
− OpEx
−$412.3K −$4.28/SF
NOI
$1.24M $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%
$24,736,480
Cap Rate 7%
$17,668,914
Cap Rate 9%
$13,742,489
Alternative Uses
Best Use
Healthcare Medical
$168.49M
$147.43M – $196.57M
NOI $11,794,370 @ 7.0% cap · market cap 73.71%
Second Best
Office B
$17.67M
$15.46M – $20.61M
NOI $1,236,824 @ 7.0% cap · market cap 7.73%
Theoretical Best
Specialty Retail
$177.26M
$155.11M – $206.81M
NOI $12,408,516 @ 7.0% cap · market cap 77.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
784
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
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 - A two-story campus serves medical, dental, behavioral health, and professional office users.
Where is this office building located?
The property is located at 4807-4815 Jonestown Road Harrisburg, PA.
What is the asking price?
The asking price for this property is $16,000,000.
What are key features of this property?
This property features: Four renovated two‑story office buildings on 4.66 acres; 79% occupied with 19,477 square feet available; Medical, dental, behavioral health, and professional office tenant mix
