Absolute NNN Industrial
For Sale
Contact for pricing
500 Broadway, Hanover, PA 17331
Fully occupied manufacturing facility with an absolute net lease and tenant-backed operating responsibility.
Property Size105,565 SF
Lot Size4.22 Acres
Price / SF$62.29
Days on Market11
Property Features for 500 Broadway
General Information
Standard status
Active
Size
105,565 SF
Lot size
4.22 Acres
Property subtype
Industrial
Occupancy
100%
Building Details
Building Size
105,565 SF
Tenancy
Single
Listing Agency:
Marcus & Millichap - Philadelphia
Listed By:
Brian Higgins · License #PA RS335804
(215) 531-7093
Source:
Crexi
Added: Sep 4
Changed: Sep 13
Last Checked: Sep 13 at 4:35AM
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 Marcus & Millichap - Philadelphia
Investment Insights
Based on property information with market context.
Located at 500 Broadway in Hanover, Pennsylvania, this NNN property comprises a 105,565-square-foot industrial facility on 4.22 acres. The building is occupied by Penn-Mar Castings, LLC, a manufacturing company serving government, defense-related, commercial, and industrial customers.
The absolute net lease assigns real estate taxes, insurance, utilities, maintenance, repairs, replacements, environmental compliance, roof and structural work, and HVAC responsibilities to the tenant. Lease economics include 2.00% annual rent increases, a corporate guaranty, and two five-year renewal options. The property is fully leased, and the lease structure is designed to limit recurring owner obligations. The projected capitalization rate is 6.10%.
The absolute net lease assigns real estate taxes, insurance, utilities, maintenance, repairs, replacements, environmental compliance, roof and structural work, and HVAC responsibilities to the tenant. Lease economics include 2.00% annual rent increases, a corporate guaranty, and two five-year renewal options. The property is fully leased, and the lease structure is designed to limit recurring owner obligations. The projected capitalization rate is 6.10%.
Key Highlights
- 105,565‑square‑foot industrial facility on 4.22 acres
- Absolute net lease transfers operating and capital expenses to the tenant
- Fully leased to Penn‑Mar Castings, LLC
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,515
Businesses Nearby
Explore this area
Business Placement
Demographics for 17331, PA
55,458
Population
23,528
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
90%
High-School Grad
74.4 sq mi
ZIP Area
745
Density / Sq Mi
$76,661
Median Household Income
$45,168
Median Earnings
$1,127
Median Rent
$228,700
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
NNN property - Fully occupied manufacturing facility with an absolute net lease and tenant-backed operating responsibility.
Where is this nnn property located?
The property is located at 500 Broadway Hanover, PA.
What is the asking price?
The asking price for this property is $6,575,550.
What are key features of this property?
This property features: 105,565‑square‑foot industrial facility on 4.22 acres; Absolute net lease transfers operating and capital expenses to the tenant; Fully leased to Penn‑Mar Castings, LLC
