Building Details

Year Built 1848

Listing Agency: Coldwell Banker Realty Show Phone

Listed By: William L Lake Show Phone

Source: Cummingsrealtors

Added: Sep 18 Changed: Sep 21 Last Checked: Sep 21 at 5:57AM

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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 Coldwell Banker Realty

Investment Insights

Based on property information with market context.

Built in 1848, this distinctive live-work property combines a historic building with residential accommodations and a substantial outdoor setting. The approximately 3,572-square-foot interior includes four bedrooms, two full bathrooms, and one half bathroom, along with original details associated with its nineteenth-century construction. The property previously served as an all-girls school, adding a documented institutional chapter to its history.

Situated along Newville’s main street at 9 Carlisle Road, the approximately 3-acre property extends toward Big Spring Creek at the rear. Its combination of street presence, building scale, residential layout, and creek-oriented grounds supports a range of live-work or other creative applications, subject to applicable approvals.

Key Highlights

• Approximately 3 acres with rear property extending toward Big Spring Creek
• Approximately 3,572 square feet of finished living space
• Four bedrooms, two full bathrooms, and one half bathroom

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

$33,454

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

9.17%

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%

$669,080 $669.1K

Cap Rate 7%

$477,914 $477.9K

Cap Rate 9%

$371,711 $371.7K

Market Conditions

NOI Build-Up for 3,572 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

$57.9K $16.20/SF

− Vacancy

−$4.3K −$1.22/SF

EGI

$53.5K $14.99/SF

− OpEx

−$20.1K −$5.62/SF

NOI

$33.5K $9.37/SF

Area

Cumberland County, PA

Vacancy

7.50%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

37.50%

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%

$669,080

Cap Rate 7%

$477,914

Cap Rate 9%

$371,711

Alternative Uses

Best Use

Office B

$648.2K

$567.2K – $756.3K (±1% cap)

NOI $45,377 @ 7.0% cap · market cap 12.43%

Second Best

Mixed Use

$477.9K

$418.2K – $557.6K (±1% cap)

NOI $33,454 @ 7.0% cap · market cap 9.17%

Theoretical Best

Office A

$829.7K

$726.0K – $968.0K (±1% cap)

NOI $58,082 @ 7.0% cap · market cap 15.91%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Live-work space

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store Grocery & Convenience Store Bakery 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

175

Businesses Nearby

Explore this area Business Placement

Demographics for 17241, PA

11,878

Population

4,636

Households

2.6

Avg Household Size

44

Median Age

17%

College-Educated

87%

High-School Grad

111.7 sq mi

ZIP Area

106

Density / Sq Mi

$75,371

Median Household Income

$40,520

Median Earnings

$978

Median Rent

$208,400

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this live-work space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Live-work space - Historic building with residential accommodations, main-street placement, and rear grounds extending toward Big Spring Creek.

Where is this live-work space located?

The property is located at 9 CARLISLE ROAD Newville, PA.

What is the asking price?

The asking price for this property is $365,000.

What are key features of this property?

This property features: Approximately 3 acres with rear property extending toward Big Spring Creek; Approximately 3,572 square feet of finished living space; Four bedrooms, two full bathrooms, and one half bathroom