Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Center Anchored by Giant Title is generated by Realmo AI

    993 Wayne Ave, Chambersburg, PA 17201

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    131,623 SF retail center in Chambersburg, PA for lease.

    Type:Retail
    Property size:
    131,623 SF
    Added:
    Aug 1, 2018
    Days on Market:
    2863
    Last Refresh:
    May 19 at 10:25 pm

    Property Features for 993 Wayne Ave

    General Information

    Standard status
    Active
    Size
    131,623 SF
    Property subtype
    Retail

    Spaces For Lease

    at 993 Wayne Ave Contact us

    We can help!

    Listing Contact
    Chad Stine
    Chad Stine

    Listing agent Chad Stine License #PA RS223285L

    Listing office Bennett Williams Commercial

    Listing date Aug 1, 2018

    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

    HighLights

    • Anchored by Giant Food, the market's preferred grocery store.
    • Located at the signalized intersection of Wayne Ave and Interstate 81.
    • High traffic location with excellent visibility.
    • Total area of 131,623 square feet.
    • Home to leading retailers such as Dollar Tree, UPS Store, and PLCB.
    • Centrally located in Chambersburg, PA.

    Overview

    Wayne Plaza is a 131,623 square foot retail shopping center anchored by Giant Food, centrally located in Chambersburg, PA. The center is situated at the signalized intersection of Wayne Ave (±12,000 VPD) and Interstate 81 (58,000 VPD). It is located 25 miles north of Hagerstown, MD and 50 miles south of Harrisburg, PA. Wayne Plaza is anchored by Giant Food and is also home to other retailers such as Dollar Tree, UPS Store, and the PLCB.
    Location Intelligence

    Current Use by Public Records

    Western Union Bank GIANT Pharmacy Pharmacy higi Physician Valerie Myers Physician Redbox Cinema

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Southgate Shopping Center — 143 Cedar St, Chambersburg, PA 17201
    • Wayne Plaza — 993 Wayne Ave, Chambersburg, PA 17201
    • Coinstar Kiosk | Bitcoin ATM — Giant Carlisle, 993 Wayne Ave, Chambersburg, PA 17201
    • La Michoacana — Chambersburg, PA 17201
    • Chambersburg Towne Center — 1005 Wayne Ave, Chambersburg, PA 17201

    Location Insight

    • Map
    • Local Demand
    City
    Chambersburg
    County
    Franklin
    State
    Pennsylvania
    Longitude
    -77.652023
    Latitude
    39.912644

    Nearby Similar for Lease

    • $2,700/Mo
      1,400 SF

      Chambersburg Office Space For Lease

      Prime office space available in Chambersburg, Pennsylvania.
      417-A PHOENIX DRIVE, CHAMBERSBURG, PA 17201
      View Details
    • $2,200/Mo

      Chambersburg Mixed-Use Commercial Space

      Adaptable mixed-use space suitable for various businesses.
      756 S MAIN STREET, CHAMBERSBURG, PA 17201
      View Details
    • $20 SF/Yr

      Customizable Office Space For Lease

      Prime office location with customizable space and included utilities.
      144 S EIGHTH STREET, CHAMBERSBURG, PA 17201
      View Details
    • $12,000/Mo

      Walker Road Commercial Property

      Highly visible commercial property with flexible floor plans for lease.
      440 WALKER Road, CHAMBERSBURG, PA 17201
      View Details
    • $520/Mo

      Chambersburg Shared Office Space

      Private offices with shared amenities in prime Chambersburg location.
      417 PHOENIX DR OFFICES, CHAMBERSBURG, PA 17201
      View Details
    • $1,000/Mo

      Unique Downtown Chambersburg Office Space

      Charming office with stone walls, exposed beams, and prime location.
      56 S THIRD Street, CHAMBERSBURG, PA 17201
      View Details
    • $18 SF/Yr
      4,435 SF

      Chambersburg Retail Space For Rent

      Retail space in Chambersburg's retail corridor, visible from I-81.
      452 Gateway Ave, Chambersburg, PA
      View Details
    • $525/Mo

      Chambersburg Shared Office Space

      Two private office spaces available with shared amenities in Chambersburg.
      417 Phoenix Dr, CHAMBERSBURG, PA, 17201-4534
      View Details
    • $3,000/Mo

      Retail Space on Philadelphia Avenue

      Retail space available for rent on Philadelphia Avenue.
      5429 Philadelphia Ave, Chambersburg, PA 17202
      View Details
    • $325/Mo
      376 SF

      Versatile Commercial Space Available

      376 SF unit suitable for various business uses.
      A-439 Ramsey Ave, Chambersburg, PA
      View Details
    • $7 SF/Yr
      25,237 SF

      Retail Space Sub-Lease Opportunity

      Sub-lease opportunity in growing Chambersburg market with road frontage.
      2643 Philadelphia Ave, Chambersburg, PA
      View Details
    • Contact for pricing
      863,860 SF

      Industrial K-Mart Distribution Center

      Industrial distribution center available for lease in Chambersburg, Pennsylvania.
      1475 Nitterhouse Dr, Chambersburg, PA 17202
      View Details

    FAQs

    What type of property is this?
    Shopping center - 131,623 SF retail center in Chambersburg, PA for lease.
    Where is this shopping center located?
    The property is located at 993 Wayne Ave Chambersburg, PA.
    What are key features of this property?
    This property features: Anchored by Giant Food, the market's preferred grocery store.; Located at the signalized intersection of Wayne Ave and Interstate 81.; High traffic location with excellent visibility.
    (717) 843-5555 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Chad Stine
    Chad Stine
    Real Estate License ID: PA RS223285L
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    993 Wayne Ave, Chambersburg, PA 17201
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!