Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Carlisle Mixed-Use Development Opportunity Title is generated by Realmo AI

    624 Alexander Spring Rd, Carlisle, PA 17015

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    1.78-acre lot near I-81, suitable for diverse development.

    Type:Land
    Lot size:
    1.78 Acres
    Added:
    Mar 3, 2026
    Days on Market:
    70
    Last Refresh:
    Mar 16 at 2:10 pm

    Property Features for 624 Alexander Spring Rd

    General Information

    Standard status
    Active
    Lot size
    1.78 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Matt Madden

    Listing agent Matt Madden License #AB067554

    Listing office Keller Williams of Central PA

    Listing date Mar 3, 2026

    Source Crexi

    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 Keller Williams of Central PA

    HighLights

    • Prime 1.78‑acre Mixed‑Use (MU) lot.
    • Less than 1 mile from I‑81.
    • Flexible zoning permits a wide range of uses.
    • Public sewer may be available (est 600').
    • Suitable for professional/medical offices, retail, or residential development.
    • Convenient location in Carlisle.

    Overview

    This 1.78-acre lot is zoned for Mixed-Use (MU) and is located less than 1 mile from I-81 in Carlisle. The flexible zoning allows for a range of uses, including professional and medical offices, financial institutions, retail and personal services, veterinary offices, and multifamily and townhouse development. Additional uses may be permitted by conditional use or special exception. The buyer is responsible for verifying permitted uses and development requirements with the Township. A house was previously located on the lot but has been removed. A septic system is believed to remain on the property, though its condition is unknown. Public sewer may be available approximately 600 feet away.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Carlisle
    County
    Cumberland
    State
    Pennsylvania
    Longitude
    -77.241568
    Latitude
    40.1782127

    Nearby Similar for Sale

    • $465,000
      3,485 SF

      Five-Unit Investment Opportunity

      Five-unit property with potential for consistent cash flow.
      160 N WEST Street, CARLISLE, PA 17013
      View Details
    • $275,000

      Carlisle Land For Sale

      1.78-acre mixed-use lot near I-81 in Carlisle, PA.
      624 ALEXANDER SPRING RD, CARLISLE, PA 17015
      View Details
    • $190,000
      1,200 SF

      Creekfront Ranch with Income Potential

      Versatile property with main home and two leased mobile homes.
      407 POTATO ROAD, CARLISLE, PA 17015
      View Details
    • $235,000

      Carlisle Borough Residential Land Opportunity

      Residential land totaling 1.4 acres in Carlisle, PA.
      REDWOOD Drive, CARLISLE, PA 17013
      View Details
    • $995,000
      6,381 SF

      Turnkey Distillery, Bar & Restaurant

      Fully renovated distillery, bar, and restaurant in downtown Carlisle.
      137 N Hanover St, Carlisle, PA 17013
      View Details
    • $50,000

      Carlisle, PA Land Parcel

      1.25-acre land parcel in Carlisle, Pennsylvania.
      CHURCH LANE, CARLISLE, PA 17015
      View Details
    • $1,250,000
      8,064 SF

      Restaurant and Motel with License

      Established restaurant and motel with liquor license for sale.
      1582 Holly Pike, Carlisle, PA 17015
      View Details
    • $2,700,000
      11,301 SF

      Carlisle Medical Office Building For Sale

      11,301 SF medical office building in Carlisle, Pennsylvania.
      27 Brookwood Ave, Carlisle, PA 17015
      View Details
    • $460,000
      1,762 SF

      Commercial Lot on High-Traffic Corner

      0.51 acre lot with commercial zoning and high visibility.
      35 Cavalry Road, Carlisle, PA 17013
      View Details
    • $14,200,000
      46,000 SF

      Truck Towing and Recovery Portfolio

      Portfolio of truck towing and recovery facilities in Pennsylvania for sale.
      1220 Newville Road, Carlisle, PA 17013
      View Details
    • $16
      10,000 SF

      Renovated Office Space Available Now

      Newly renovated office space available for sublease near UPMC Hospital.
      3 Jennifer Ct, Carlisle, PA 17015
      View Details
    • $950,000
      13,000 SF

      Carlisle Historic District Commercial Space

      13,000+ SF commercial space in Carlisle's Historic District.
      142 North Hanover Street, Carlisle, PA 17013
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.78-acre lot near I-81, suitable for diverse development.
    Where is this commercial land located?
    The property is located at 624 Alexander Spring Rd Carlisle, PA.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: Prime 1.78‑acre Mixed‑Use (MU) lot.; Less than 1 mile from I‑81.; Flexible zoning permits a wide range of uses.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matt Madden
    Real Estate License ID: AB067554
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    624 Alexander Spring Rd, Carlisle, PA 17015
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!