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    Property profile & analytics

    62 Main St Palmyra, PA 17078-1603

    • Retail space
    • 9,752 SF
    • 0.32 lot acres
    OFF-MARKET
    Value Estimations
    $370,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-3493938
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 62 Main St

    Year built
    1960
    Lot size
    0.32 lot acres
    Property size
    9,752 SF
    Property type
    Retail space
    APN
    16-2290126-356676-0000
    APU
    1622901263566760000

    Description

    This iconic, two-story mixed-use building at 62 W Main St, Palmyra, PA, is available for sale for the first time in decades. Boasting 15,000 square feet, this Class B property offers a unique blend of creative office and executive office spaces, perfect for an owner-user or savvy investor. The building's historic charm, dating back to the early 1900s, is complemented by modern updates and renovations, ensuring it's ready for its next chapter. The versatile layout, featuring unique architectural details and fixtures, is ideal for a variety of uses, including retail businesses. Currently, the property is partially occupied by several vendors with flexible leases, presenting an excellent opportunity for expansion. Separate utility meters and multiple access points allow for multi-tenant redevelopment. Situated on a high-traffic corridor between Hershey and Lebanon, this property benefits from a desirable demographic pool. The Central Business District zoning permits a wide range of uses, including personal services, markets, medical facilities, microbreweries, offices, restaurants, and various retail options. The 0.32-acre lot provides ample space, and seller financing is available. This highly recognizable building offers an exceptional investment opportunity with strong potential for growth and return. APN: 16-2290126-356676-0000. Asking price: $1,400,000 ($93.33/sq ft).

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Palmyra
    County
    Lebanon
    State
    Pennsylvania
    Longitude
    -76.5967
    Latitude
    40.3067
    CBSA code
    30140
    CBSA name
    LEBANON, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $7,573
    $55,600
    $244,400
    $300,000
    -
    $57,084
    $250,924
    $308,008

    Comparable in this City

    • Value Estimation
      $425,000
      14,400 SF

      8 Main St

      RETAIL STORES (PERSONAL SERVICES) • 14,400 SF
      8 Main St, Palmyra, PA 17078-1627
      View Details
    • Value Estimation
      $350,000
      4,432 SF

      28 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,432 SF
      28 Main St, Palmyra, PA 17078-1627
      View Details
    • Value Estimation
      $205,000
      9,811 SF

      111 Main St

      RETAIL STORES (PERSONAL SERVICES) • 9,811 SF
      111 Main St, Palmyra, PA 17078-1713
      View Details
    • Value Estimation by Request
      7,360 SF

      1099 Main St

      RETAIL STORES (PERSONAL SERVICES) • 7,360 SF
      1099 Main St, Palmyra, PA 17078-9502
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    • Value Estimation by Request
      18,300 SF

      625 Main St

      RETAIL STORES (PERSONAL SERVICES) • 18,300 SF
      625 Main St, Palmyra, PA 17078-1511
      View Details
    • Value Estimation
      $200,000
      6,315 SF

      1 Main St

      RETAIL STORES (PERSONAL SERVICES) • 6,315 SF
      1 Main St, Palmyra, PA 17078-1711
      View Details

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    Palmyra, PA 17078-1603
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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.

    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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