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    905 South Market St Elizabethtown, PA 17022

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    For Sale
    $1,000,000

    Commercial property with automotive garage and leased salon space.

    Property size:
    5,900 SF
    Lot size:
    0.64 Acres

    Property Features for 905 South Market St

    General Information

    Standard status
    Active
    Zoning
    GC - General Commercial
    Size
    5,900 SF
    Lot size
    0.64 Acres

    We can help!

    Listing Contact
    Daniel Berger Jr.
    Daniel Berger Jr.
    Source: Crexi

    Listing Agency: U.S. Commercial Realty Listing Agent: Daniel Berger Jr.

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

    Learn more

    Overview

    Automotive Garage with Rental Income

    The commercial property at 903-905 South Market Street in Elizabethtown, PA, presents an investment opportunity with an automotive garage and rental income. The property includes approximately 5,900 square feet of automotive service station space with an attached office, which will be vacant at settlement. Additionally, there is approximately 1,700 square feet of leased hair and nail salon space. The automotive garage includes all furniture, fixtures, and equipment (FF&E), making it ready for operation. The hair salon has been a stable tenant since 2021, generating $19,200 annually in rental income. Situated on 0.64 acres in a General Commercial zoning district with public water and sewer, this property is suitable for an owner-operator looking to run an automotive business while benefiting from tenant income. The property is well-positioned in a growing market with visibility and accessibility.
    Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Similar Places Nearby

    Wicked Dreamz, Monro Auto Service And Tire Centers, Barnes Motors, KG Performance, Reiders Service Station

    Location Insight

    • Map
    • Local Demand
    City
    Elizabethtown
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.5963998
    Latitude
    40.1434529

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    FAQs

    What type of property is this?
    Auto shop - Commercial property with automotive garage and leased salon space.
    Where is this auto shop located?
    The property is located at 905 South Market St Elizabethtown, PA.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: - Automotive garage space (5,900 sq ft) with all furniture, fixtures, and equipment (FF&E) included, ready for immediate operation.; - Existing hair and nail salon tenant (1,700 sq ft) generating $19,200 annual rental income.; - Prime location on South Market Street in Elizabethtown, PA, offering excellent visibility and accessibility.
    (717) 735-6000
    Request Owner's contact information
    905 South Market St Elizabethtown, PA 17022
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    Elizabethtown, PA 17022
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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
    905 South Market St Elizabethtown, PA 17022
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    We can help!
    Listing Contact
    Daniel Berger Jr.
    Daniel Berger Jr.
    Real Estate License ID: AB068331
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