Building Details

Building Size 5,298 SF

Year Built 1950

Listing Agency: NAI CIR | Lemoyne

Listed By: Tony Plakas · License #PA #RS370125 Show Phone

Source: Naiglobal

Added: May 14 Changed: Oct 9 Last Checked: Oct 20 at 7:32PM

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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 NAI CIR | Lemoyne

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Investment Insights

Based on property information with market context.

This versatile mixed-use property offers 5,290 SF total, including 3,087 SF of warehouse space and 1,432 SF of office space. Ceiling heights range from 8 to 20 feet, supporting a range of storage and light operational needs while keeping the warehouse and office functions well separated.

The building is equipped with three drive-in doors: two sized at 14' x 10' and one sized at 20' x 16'. On-site parking includes 12 dedicated spaces for employees and customers.

The office portion is designed for administration and client interaction, complementing the warehouse area’s workflow-friendly layout for day-to-day business operations.

Key Highlights

• 5,290 SF mixed‑use warehouse with 1,432 SF office and 3,867 SF warehouse space
• Ceiling heights range from 8 to 20 feet for flexible storage, light manufacturing, or distribution use
• Three drive‑in doors: two at 14' x 10' and one at 20' x 16'

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,913

Cap Rate

7.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$618,260 $618.3K

Cap Rate 7%

$441,614 $441.6K

Cap Rate 9%

$343,478 $343.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,298 SF

Gross rent

$46.8K $8.83/SF

− Vacancy

−$2.6K −$0.49/SF

EGI

$44.2K $8.34/SF

− OpEx

−$13.2K −$2.50/SF

NOI

$30.9K $5.83/SF

Area

York County, PA

Vacancy

5.60%

Lease Rate

$8.83 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$618,260

Cap Rate 7%

$441,614

Cap Rate 9%

$343,478

Alternative Uses

Best Use

Warehouse

$536.2K

$469.2K – $625.6K (±1% cap)

NOI $37,537 @ 7.0% cap · market cap 9.50%

Second Best

Industrial

$441.6K

$386.4K – $515.2K (±1% cap)

NOI $30,913 @ 7.0% cap · market cap 7.83%

Theoretical Best

Office A

$1.53M

$1.34M – $1.79M (±1% cap)

NOI $107,377 @ 7.0% cap · market cap 27.18%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Grocery & Convenience Store Catering Service (Bike/Boat/Book/etc) Store Veterinary Clinic Clothing & Fashion Store Tanning Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

20 ft

Clear height

3

Drive-in doors

Location Intelligence

Trade Area within ½ mile

1,250

Businesses Nearby

Under-served

Demand for This Use

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

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Flexible 5,290 SF warehouse includes 1,432 SF office and three drive-ins, plus 12 dedicated parking spaces.

Where is this flex space located?

The property is located at 513 Highland Ave Hanover, PA.

What is the asking price?

The asking price for this property is $395,000.

What are key features of this property?

This property features: 5,290 SF mixed‑use warehouse with 1,432 SF office and 3,867 SF warehouse space; Ceiling heights range from 8 to 20 feet for flexible storage, light manufacturing, or distribution use; Three drive‑in doors: two at 14' x 10' and one at 20' x 16'