Clear-Span Warehouse
New
For Sale
$799,900
828 ROUTE 41, Gap, PA 17527
Commercially zoned warehouse with overhead vehicle access, flexible interior volume, and supporting utility and recreation areas.
Property Size6,000 SF
Lot Size2.02 Acres
Price / SF$133.32
Days on Market7
Property Features for 828 ROUTE 41
General Information
Standard status
Active
Size
6,000 SF
Lot size
2.02 Acres
Property subtype
Commercial
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Span
Yes
Drive-In Doors
1
Amenities
Recreation Room
Building Details
Year Built
2016
Buildings
1
Listing Agency:
Barr Realty Inc.
(717) 442-9221
Listed By:
Stephen J Barr · License #RM419125
(717) 442-9221
Source:
Cummingsrealtors
Added: Aug 16
Changed: Aug 22
Last Checked: Aug 22 at 4:42AM
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 Barr Realty Inc.
Investment Insights
Based on property information with market context.
Built in 2016, this 6,000-square-foot warehouse occupies a 2.02-acre commercial-zoned parcel. The building includes a 50-by-100-foot clear-span area, a 14-by-14-foot overhead door reached from the driveway, and a separate walk-in entrance. Interior support features include a modern restroom, recreation room with a woodstove flue, and a partial second level used for utilities with electric stairway access.
The property fronts Route 41, where reported average daily traffic exceeds 15,000 vehicles. The offering consists of the real estate only, providing a substantial industrial building with adaptable open space and on-site acreage.
The property fronts Route 41, where reported average daily traffic exceeds 15,000 vehicles. The offering consists of the real estate only, providing a substantial industrial building with adaptable open space and on-site acreage.
Key Highlights
- 6,000‑square‑foot warehouse constructed in 2016
- 2.02‑acre commercial‑zoned property
- 50‑by‑100‑foot clear‑span interior area
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
$40,577
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
5.07%
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%
$811,540
$811.5K
Cap Rate 7%
$579,671
$579.7K
Cap Rate 9%
$450,856
$450.9K
Market Conditions
NOI Build-Up for 6,000 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
$51.7K $8.62/SF
− Vacancy
−$4.0K −$0.66/SF
EGI
$47.7K $7.96/SF
− OpEx
−$7.2K −$1.19/SF
NOI
$40.6K $6.76/SF
Area
Lancaster County, PA
Vacancy
7.70%
Lease Rate
$8.62 /SF/Yr
Expense Ratio
15.00%
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%
$811,540
Cap Rate 7%
$579,671
Cap Rate 9%
$450,856
Alternative Uses
Best Use
Warehouse
$579.7K
$507.2K – $676.3K
NOI $40,577 @ 7.0% cap · market cap 5.07%
Second Best
Industrial
$477.4K
$417.7K – $556.9K
NOI $33,416 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,744 @ 7.0% cap · market cap 17.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 17527, PA
6,550
Population
2,162
Households
3
Avg Household Size
33
Median Age
17%
College-Educated
75%
High-School Grad
21.0 sq mi
ZIP Area
312
Density / Sq Mi
$92,292
Median Household Income
$38,958
Median Earnings
$1,319
Median Rent
$297,700
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Gap Self Storage — 80 PA-41, Gap, PA 17527
Frequently Asked Questions
What type of property is this?
Warehouse - Commercially zoned warehouse with overhead vehicle access, flexible interior volume, and supporting utility and recreation areas.
Where is this warehouse located?
The property is located at 828 ROUTE 41 Gap, PA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 6,000‑square‑foot warehouse constructed in 2016; 2.02‑acre commercial‑zoned property; 50‑by‑100‑foot clear‑span interior area
