Building Details

Buildings 1

Stories 1

Tenancy Single

Listing Agency: Bennett Williams Commercial

Listed By: Jimmy Moniz · License #RS375470 Show Phone

Source: Crexi

Added: May 3, 2023 Changed: Oct 10 Last Checked: Oct 16 at 8:28AM

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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 Bennett Williams Commercial

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Investment Insights

Based on property information with market context.

The property at 1133 Baltimore Street is a 2,530 square-foot free-standing retail building located on the south side of Hanover, Pennsylvania, along Baltimore Street, which sees 16,000 vehicles per day. The property is near national retailers, including Walmart, Giant, Wendy’s, Weis Markets, Starbucks, and MedExpress.

Key Highlights

• High traffic location: 16,000 vehicles per day (VPD) on Baltimore Street.
• Free‑standing retail building with 2,530 square feet.
• Proximity to national retailers: Walmart, Giant, Wendy’s, Weis Markets, Starbucks, and MedExpress.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,188

Cap Rate

4.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$603,760 $603.8K

Cap Rate 7%

$431,257 $431.3K

Cap Rate 9%

$335,422 $335.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,530 SF

Gross rent

$45.5K $18.00/SF

− Vacancy

−$2.4K −$0.95/SF

EGI

$43.1K $17.05/SF

− OpEx

−$12.9K −$5.11/SF

NOI

$30.2K $11.93/SF

Area

York County, PA

Vacancy

5.30%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$603,760

Cap Rate 7%

$431,257

Cap Rate 9%

$335,422

Alternative Uses

Best Use

Retail

$431.3K

$377.4K – $503.1K (±1% cap)

NOI $30,188 @ 7.0% cap · market cap 4.03%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$732.5K

$641.0K – $854.6K (±1% cap)

NOI $51,277 @ 7.0% cap · market cap 6.84%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Restaurant Big Box & Wholesale Store Dental Office Building Supply Auto Parts Store

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

452

Businesses Nearby

174k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 41% Shops & Services 38% Groceries 19% Beauty & Spa 2%

McDonald's Dining

30,816 visits/mo 0.4 miles

Weis Markets Groceries

26,910 visits/mo 0.4 miles

Rutters Shops & Services

24,856 visits/mo 0.2 miles

Ollie's Bargain Outlet Shops & Services

16,903 visits/mo 0.3 miles

Starbucks Dining

14,909 visits/mo 0.5 miles

Demographics for 17331, PA

55,458

Population

23,528

Households

2.4

Avg Household Size

43

Median Age

22%

College-Educated

90%

High-School Grad

74.4 sq mi

ZIP Area

745

Density / Sq Mi

$76,661

Median Household Income

$45,168

Median Earnings

$1,127

Median Rent

$228,700

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - 2,530 SF retail building in Hanover, Pennsylvania.

Where is this storefront property located?

The property is located at 1133 Baltimore St Hanover, PA.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: High traffic location: 16,000 vehicles per day (VPD) on Baltimore Street.; Free‑standing retail building with 2,530 square feet.; Proximity to national retailers: Walmart, Giant, Wendy’s, Weis Markets, Starbucks, and MedExpress.