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    1056 Wayne Ave Chambersburg, PA 17201

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    For Lease
    Contact for pricing

    Prime 15,000 SF Commercial Land Plot

    Lot size:
    67,845 SF

    Property Features for 1056 Wayne Ave

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    67,845 SF

    Spaces For Lease

    at 1056 Wayne Ave, Chambersburg, PA 17201 Contact us

    We can help!

    Listing Contact
    Pat Gallagher
    Pat Gallagher

    Listing Agent: Pat Gallagher

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 15,000 square foot commercial land parcel, located at 1056 Wayne Ave in Chambersburg, Pennsylvania, presents a unique investment opportunity. Situated in Franklin County, this single-tenant property offers significant potential for development. The expansive lot provides ample space for a variety of commercial ventures, allowing for substantial building construction. The property's zoning (not specified in provided data) will dictate permitted uses, which should be verified independently. The address is conveniently located within Chambersburg, offering easy access to major transportation routes and a thriving local economy. The total buildable square footage is not explicitly stated, but the existing land area suggests a considerable capacity for development. This property is being offered for lease, providing a flexible option for businesses seeking to establish a strong presence in a desirable location. Interested parties are encouraged to conduct their own due diligence to assess the suitability of the land for their specific commercial needs. The property's precise location (latitude 39.9108408, longitude -77.6530755) and zip code (17201) can be used for further location analysis and planning. This is a rare opportunity to acquire a substantial commercial land parcel in a growing Pennsylvania market. Further details regarding lease terms and conditions are available upon request. The property is currently vacant and ready for immediate development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Western Union Bank Weis Markets Pharmacy Pharmacy ATM (BP Food ... Atm Coinhub Bitcoin ATM ... Atm Weis Markets Grocery & Convenience Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Chambersburg
    County
    Franklin
    State
    Pennsylvania
    Longitude
    -77.6530755
    Latitude
    39.9108408

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    FAQs

    What type of property is this?
    Land - Prime 15,000 SF Commercial Land Plot
    Where is this land located?
    The property is located at 1056 Wayne Ave Chambersburg, PA.
    What are key features of this property?
    This property features: 15,000 SF pad site available adjacent to Weis Markets.; Excellent I-81 visibility (45,662 VPD), providing easy north and southbound access.; Strong retail synergy with nearby Weis, Giant, Rural King, and Starbucks.
    (610) 260-2676 Call to check price and availability
    Request Owner's contact information
    1056 Wayne Ave Chambersburg, PA 17201
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    Chambersburg, PA 17201
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    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
    1056 Wayne Ave Chambersburg, PA 17201
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    Contact for Pricing
    Please call us for current price
    and status of this listing Pat Gallagher
    Pat Gallagher
    Real Estate License ID: 1756596
    (610) 260-2676 (610) 357-3883 (610) 825-5222
    Learn more
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