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    550 Cleveland Ave Chambersburg, PA 17201

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    For Lease
    Contact for pricing

    Chambersburg Office Space: Multiple Options Available

    Lot size:
    16,200 SF

    Property Features for 550 Cleveland Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    16,200 SF
    Class
    B
    Total Rate
    27000

    Building Details

    Buildings
    6
    Stories
    2

    Spaces For Lease

    at 550 Cleveland Ave, Chambersburg, PA 17201 Contact us
    Unit Suite 214

    $20 /Mo

    Size
    1,882 SF
    Contact us
    Unit Suite 201

    $20 /Mo

    Size
    711 SF
    Contact us
    Unit Suite 208

    $20 /Mo

    Size
    486 SF
    Contact us

    We can help!

    Listing Contact
    Tanya Nitterhouse

    Listing Agency: Sunnyhill Properties, Inc. Listing Agent: Tanya Nitterhouse

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional Chambersburg office campus, located at 550 Cleveland Avenue (cross street: McKinley Street), offers a diverse range of spaces ideal for various business needs. The six, two-story buildings comprise a total of 16,200 square feet of meticulously maintained office space, categorized as Class B. Currently, three spaces are available, ranging from 486 to 1,882 square feet, providing flexibility for businesses of all sizes. The property boasts a convenient location with easy access to Interstate 81, placing your business within reach of a wider market. Enjoy the benefits of ample free off-street parking (109 spaces total) and the peace of mind that comes with a professional, full-time maintenance team dedicated to keeping the grounds and buildings in top condition. The campus features ADA compliance, high-speed internet access, and a robust 3-phase power system. Its strategic location offers proximity to the Chambersburg Area School District, the YMCA, downtown Chambersburg, and the Franklin County Courthouse, ensuring easy access to essential services and amenities. The concrete construction ensures durability and longevity, while the well-maintained grounds provide a pleasant and productive work environment. Flexible floor plans and build-to-suit options are available to accommodate specific business requirements. Zoned DCN in Franklin County, this property presents an unbeatable value in a highly desirable location. One 2000 lb passenger elevator serves the buildings.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Harold Miller Physician Visiting Angels Home Health Care Service US Fruit Inspection ... Federal Courthouse Avenues Professional Center Business Service Center Budget Self Storage Storage Facility

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chambersburg
    County
    Franklin
    State
    Pennsylvania
    Longitude
    -77.65812356077
    Latitude
    39.928764119814

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    FAQs

    What type of property is this?
    Medical office - Chambersburg Office Space: Multiple Options Available
    Where is this medical office located?
    The property is located at 550 Cleveland Ave Chambersburg, PA.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Six-building office campus totaling 16,200 square feet.; Multiple tenancies available, ranging from 486 to 1,882 square feet.; Class B office space with 109 parking spaces and 3-phase power.
    (717) 264-4312 Call to check price and availability
    Request Owner's contact information
    550 Cleveland Ave Chambersburg, PA 17201
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    Chambersburg, PA 17201
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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
    550 Cleveland Ave Chambersburg, PA 17201
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    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tanya Nitterhouse
    Real Estate License ID: RM049123A
    (717) 264-4312
    Learn more
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