Middletown Auto Center
For Sale
Contact for pricing
405 Spruce St, Middletown, PA 17057
Auto center for sale in growing Middletown location.
Property Size2,480 SF
Price / SF$141.13
Days on Market1602
Property Features for 405 Spruce St
General Information
Standard status
Active
Size
2,480 SF
Class
B
Total Parking Spaces
25
Property subtype
Retail
Zoning
Commercial Highway
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1952
Year Renovated
2022
Buildings
1
Stories
1
Units
1
Listing Agency:
Landmark Commercial Realty
(717) 524-9852
Listed By:
Bogumila 'Bo' Mangam · License #PA
Source:
Crexi
Added: Apr 14, 2022
Changed: Aug 22
Last Checked: Aug 30 at 11:35PM
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 Landmark Commercial Realty
Investment Insights
Based on property information with market context.
This auto center presents an opportunity for purchase or lease in a central Middletown location. Situated near Penn State Harrisburg, the property benefits from the university's ongoing growth, attracting students, faculty, administrators, and corporate partners. The campus is recognized as the fastest-growing within the Penn State system and serves as a hub for the Harrisburg Market Keystone Innovation Zone, potentially offering tax incentives for eligible businesses. The property's location near Harrisburg International Airport (HIA) provides additional advantages, as HIA expands and modernizes its facilities to support air travelers and air freight services. Middletown has experienced consistent economic growth since 1980, with projections indicating continued expansion. The property size is 2480 square feet.
Key Highlights
- Prime location in the central Middletown area.
- Proximity to the rapidly growing Penn State Harrisburg campus.
- Located within the Harrisburg Market Keystone Innovation Zone, potentially offering tax incentives.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,868
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$497,360
$497.4K
Cap Rate 7%
$355,257
$355.3K
Cap Rate 9%
$276,311
$276.3K
Market Conditions
NOI Build-Up for 2,480 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.2K $15.00/SF
− Vacancy
−$1.7K −$0.68/SF
EGI
$35.5K $14.33/SF
− OpEx
−$10.7K −$4.30/SF
NOI
$24.9K $10.03/SF
Area
Dauphin County, PA
Vacancy
4.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$497,360
Cap Rate 7%
$355,257
Cap Rate 9%
$276,311
Alternative Uses
Best Use
Industrial
$2.37M
$2.07M – $2.76M
NOI $165,758 @ 7.0% cap · market cap 47.36%
Second Best
Retail
$355.3K
$310.9K – $414.5K
NOI $24,868 @ 7.0% cap · market cap 7.11%
Theoretical Best
Specialty Retail
$4.57M
$4.00M – $5.33M
NOI $319,734 @ 7.0% cap · market cap 91.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17057, PA
23,112
Population
10,513
Households
2.2
Avg Household Size
39
Median Age
27%
College-Educated
94%
High-School Grad
31.1 sq mi
ZIP Area
743
Density / Sq Mi
$70,536
Median Household Income
$42,948
Median Earnings
$1,122
Median Rent
$187,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Hertz — 3 Terminal Drive, Middletown, PA 17057, United States
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Frequently Asked Questions
What type of property is this?
Automotive property - Auto center for sale in growing Middletown location.
Where is this automotive property located?
The property is located at 405 Spruce St Middletown, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Prime location in the central Middletown area.; Proximity to the rapidly growing Penn State Harrisburg campus.; Located within the Harrisburg Market Keystone Innovation Zone, potentially offering tax incentives.
