700 N Hanover St, Carlisle, PA 17013

Building Details

Year Built 1972 More

Listing Agency: Onest Real Estate

Listed By: Nobon Ghalley Show Phone

Source: Tbhteam

Added: Aug 11 Changed: Oct 26 Last Checked: Oct 7 at 1:18PM

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Investment Insights

Based on property information with market context.

This approximately 4,050-square-foot commercial property occupies 0.14 acres and is classified as a mixed-use asset. The building was previously used for dry cleaning and is positioned for renovation or redevelopment. Its configuration can be adapted for concepts such as a grocery store, laundromat, retail storefront, office, restaurant, or another mixed-use operation, subject to applicable approvals.

Located at 700 N Hanover St in downtown Carlisle, the property offers exposure to passing traffic and convenient access to nearby businesses and residential neighborhoods. The surrounding downtown setting provides a practical context for repositioning the existing commercial space while retaining its established location.

Key Highlights

• Approximately 4,050 square feet on 0.14 acres
• Previously operated as a dry‑cleaning business
• Positioned for renovation and redevelopment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,987

Cap Rate

6.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$779,740 $779.7K

Cap Rate 7%

$556,957 $557.0K

Cap Rate 9%

$433,189 $433.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,050 SF

Gross rent

$58.3K $14.40/SF

− Vacancy

−$2.6K −$0.65/SF

EGI

$55.7K $13.75/SF

− OpEx

−$16.7K −$4.13/SF

NOI

$39.0K $9.63/SF

Area

Cumberland County, PA

Vacancy

4.50%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$779,740

Cap Rate 7%

$556,957

Cap Rate 9%

$433,189

Alternative Uses

Best Use

Retail

$557.0K

$487.3K – $649.8K (±1% cap)

NOI $38,987 @ 7.0% cap · market cap 6.51%

Second Best

Mixed Use

$541.9K

$474.1K – $632.2K (±1% cap)

NOI $37,931 @ 7.0% cap · market cap 6.33%

Theoretical Best

Office A

$940.8K

$823.2K – $1.10M (±1% cap)

NOI $65,855 @ 7.0% cap · market cap 10.99%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Auto Parts Store Big Box & Wholesale Store Skin Care Clinic Dental Office Storage Facility Furniture & Home Goods

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

Location Intelligence

Trade Area within ½ mile

779

Businesses Nearby

Explore this area Business Placement

Demographics for 17013, PA

36,578

Population

16,065

Households

2.3

Avg Household Size

39

Median Age

34%

College-Educated

93%

High-School Grad

39.2 sq mi

ZIP Area

933

Density / Sq Mi

$68,150

Median Household Income

$36,336

Median Earnings

$1,018

Median Rent

$221,800

Median Home Value

Market

Average Price Trend$/SF for Mixed-use properties in Cumberland County, PA

$126 Jul

$121 Aug

$118 Sep

$119 Oct

Properties on Market for Mixed-use properties in Cumberland County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial space suited to renovation and reconfiguration for retail, office, restaurant, or other mixed-use concepts.

Where is this mixed-use property located?

The property is located at 700 N Hanover St Carlisle, PA.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: Approximately 4,050 square feet on 0.14 acres; Previously operated as a dry‑cleaning business; Positioned for renovation and redevelopment