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    241 Railroad St Hanover, PA 17331

    Sponsored
    For Sale
    $795,000

    Established Restaurant, 4,733 SF, $795,000

    Property size:
    4,733 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This thriving Hanover, PA restaurant presents a unique turnkey opportunity. The Hanover Railside Diner, situated on a 0.55-acre lot at the intersection of N Railroad/Eichelberger Street and North Street (three blocks north of Hanover Square), boasts 4,733 square feet of space. Established for over 12 years, this well-maintained diner operates Monday through Friday and comfortably seats 150+ patrons, with an additional banquet room accommodating 50. Ample parking is available with 50+ on-site spaces. The property includes a second-floor one-bedroom apartment. The sale includes all necessary equipment and furnishings for a seamless transition. Annual real estate taxes are approximately $13,400. The asking price is $795,000, translating to $167.97 per square foot. The property enjoys a prime location, neighboring the Eichelberger Professional Building, Guthrie Memorial Library, and UPMC-Mountainview, ensuring high visibility and accessibility to the entire town. This is an exceptional opportunity to acquire a profitable, established business in a desirable location.

    Property Features for 241 Railroad St

    General Information

    Property type
    Restaurants
    Square Feet
    4,733 SF

    HighLights

    • $795,000 asking price for this established Hanover, PA restaurant.
    • 4,733 square foot retail building on a 0.55‑acre lot.
    • Turnkey restaurant operation with seating for 150+ plus a 50‑person banquet room.
    • Includes a 1‑bedroom apartment on the second floor and 50+ on‑site parking spaces.
    • Excellent location near Hanover Square, neighboring prominent businesses and institutions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hanover Railside Family ... Family Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    York
    State
    Pennsylvania
    Longitude
    -76.9856152
    Latitude
    39.8048185

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    FAQs

    What type of property is this?
    Restaurant - Established Restaurant, 4,733 SF, $795,000
    Where is this restaurant located?
    The property is located at 241 Railroad St Hanover, PA.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: $795,000 asking price for this established Hanover, PA restaurant.; 4,733 square foot retail building on a 0.55-acre lot.; Turnkey restaurant operation with seating for 150+ plus a 50-person banquet room.
    Request Owner's contact information
    241 Railroad St Hanover, PA 17331
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    Hanover, PA 17331
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    Realmo Value Estimation

    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.

    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.

    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
    241 Railroad St Hanover, PA 17331
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