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    604 Station Rd Grantville, PA 17028

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    For Lease
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    Flat, 1-acre commercial lot near I-81 and tourist attractions.

    Type:Land
    Lot size:
    1.00 Acre
    Added:
    May 23, 2024
    Days on Market:
    697
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 604 Station Rd

    General Information

    Standard status
    Active
    Lot size
    1.00 Acre
    Property subtype
    Land

    Spaces For Lease

    at 604 Station Rd Contact us

    We can help!

    Listing Contact
    Luke Higgins

    Listing agent Luke Higgins License #PA RS369238

    Listing office Bennett Williams Commercial

    Listing date May 23, 2024

    Source Crexi

    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

    Overview

    Grantville Commercial Land For Lease

    A flat, approximately 1-acre parcel of land is available for lease in Grantville, Pennsylvania. The property is zoned industrial commercial and features two access points and ample parking. Situated just off Interstate 81, it benefits from high visibility, with the interstate experiencing a traffic volume of 64,260 vehicles per day. Bow Creek Road has a traffic volume of 10,027 vehicles per day. The lot is located between the Holiday Inn and the Best Western, near the exit to Penn National Race Course and Hollywood Casino. Grantville is near Hershey attractions and Fort Indiantown Gap. The location is strategically positioned to serve tourists visiting Hershey attractions, the Hollywood Casino at Penn National Race Course, and Fort Indiantown Gap. The property is suitable for a coffee shop or other business that complements the hotels. Grantville is located within East Hanover Township, Dauphin County, and is part of the Harrisburg – Carlisle Metropolitan Statistical Area. Dauphin County has a population of 286,401. The average household income in Hershey is $108,978.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Great American Grille Restaurant Winner's Circle Saloon Restaurant ATM Atm The Venue at 604 Catering Service Laughing Stock Comedy ... Nightclub

    Suggested Use

    Restaurant Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Hotel & Motel Department Store Kitchen & Bath Showroom Food Market HVAC Service Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Grantville
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.665101
    Latitude
    40.380047

    Nearby Similar for Lease

    • Contact for pricing

      Prime Land Near I-81

      2.68 acres available off I-81 near Hollywood Casino.
      409 Bow Creek Road & 1477 Ridge Road, Grantville, PA 17028
      View Details
    • Contact for pricing

      Land Near Hollywood Casino

      2.68 acres of commercial land available for lease.
      409 Bow Creek Rd, Grantville, PA 17028
      View Details

    FAQs

    What type of property is this?
    Commercial land - Flat, 1-acre commercial lot near I-81 and tourist attractions.
    Where is this commercial land located?
    The property is located at 604 Station Rd Grantville, PA.
    What are key features of this property?
    This property features: Excellent visibility from I‑81 with high traffic volume of 64,260 VPD.; Strategically located off I‑81 near Hershey, Hollywood Casino and Fort Indiantown Gap.; Zoned industrial commercial, suitable for various businesses.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Luke Higgins
    Real Estate License ID: PA RS369238
    Learn More
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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
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