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    Old York Rd New Cumberland, PA 17070

    Sponsored
    For Sale
    Contact for pricing

    High-traffic location, diverse zoning.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional commercial land offering presents a unique investment opportunity in New Cumberland, Pennsylvania. The property comprises two parcels totaling between 1.05 and 6.19 acres, strategically located at the highly visible intersection of Old York Road and Fishing Creek Road, less than half a mile from Interstate 83, Exit 36. The larger 6.19-acre parcel sits behind a 2.2-acre lot facing Old York Road, adjacent to a future Tractor Supply store. Existing infrastructure includes a traffic light and well-established road access, ensuring excellent visibility and convenient ingress/egress. The property is zoned for commercial use, permitting a wide range of development options, including retail, fast food, convenience stores, car washes, professional offices, general commercial uses, light industrial facilities, self-storage units, and assisted living facilities. Previous approvals exist for a grocery-anchored shopping center. This rapidly growing area of Northern York County benefits from its proximity to major employment centers in Harrisburg and York, with a substantial population base within a five-mile radius (approximately 61,757 people) exhibiting a strong average household income of $78,576. The area has seen significant recent growth in warehousing and distribution, with major players like Amazon, FedEx, and Chewy establishing large facilities nearby. The property's location offers easy access to I-83, a major north-south artery connecting York and Harrisburg, and is situated just 15 minutes from downtown Harrisburg and 20 minutes from York. Nearby amenities include Walmart, CVS, Dollar Tree, Karn's Foods, Starbucks, Rite Aid, Sherwin Williams, Planet Fitness, Burger King, McDonald's, and Anytime Fitness. This presents a compelling opportunity for developers seeking a prime location with significant growth potential.

    Property Features for 0 Old York Rd

    General Information

    Property type
    Land
    Lot Size
    45,738 SF

    HighLights

    • Two parcels totaling 1.05 to 6.19 acres in New Cumberland, PA, at the highly visible intersection of Old York Road and Fishing Creek Road.
    • Less than half a mile from I‑83, Exit 36, with excellent visibility and access.
    • Zoned commercial, allowing for retail, fast food, convenience stores, car washes, offices, light industrial, self‑storage, and assisted living. Prior approvals for a grocery‑anchored shopping center exist.
    • Strong demographics: 61,757 people within a 5‑mile radius, average household income of $78,576. Located 15 minutes from Harrisburg and 20 minutes from York.
    • Surrounded by major retailers and national brands, including Walmart, CVS, and numerous restaurants and fitness centers. Significant recent warehouse development nearby by Amazon, FedEx, and Chewy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    New Cumberland
    County
    Cumberland
    State
    Pennsylvania
    Longitude
    -76.83263711
    Latitude
    40.17796518

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    FAQs

    What type of property is this?
    Land - High-traffic location, diverse zoning.
    Where is this land located?
    The property is located at Old York Rd New Cumberland, PA.
    What are key features of this property?
    This property features: Two parcels totaling 1.05 to 6.19 acres in New Cumberland, PA, at the highly visible intersection of Old York Road and Fishing Creek Road.; Less than half a mile from I-83, Exit 36, with excellent visibility and access.; Zoned commercial, allowing for retail, fast food, convenience stores, car washes, offices, light industrial, self-storage, and assisted living. Prior approvals for a grocery-anchored shopping center exist.
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    Old York Rd New Cumberland, PA 17070
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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
    Old York Rd New Cumberland, PA 17070
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