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    241 Franklin St Hanover, PA 17331

    For Lease
    $10 SF/Yr ($3,895 /Mo)

    Unique freestanding retail space, 4,674 sq ft.

    Lot size:
    4,674 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 4,674-square-foot freestanding retail building presents a rare opportunity in the revitalized downtown Hanover, Pennsylvania. Located at 241 N Franklin St, this property is part of a larger Pennrose redevelopment project, offering a unique blend of historical charm and modern amenities. Originally a boiler room for the Hanover Shoe facility, the building has been thoughtfully repurposed, retaining its industrial character while offering modern functionality. The building boasts exposed brick walls, impressive 18- to 30-foot high ceilings, and abundant natural light from windows on all sides. Durable concrete floors, efficient heating and air conditioning, and ample heavy power are already in place. Restrooms are also included. The 2.6-acre lot shares parking with adjacent multi-family buildings. Zoned for Local Business, this versatile space is ideal for a variety of uses, including retail, office, or restaurant (potential parking limitations should be considered for restaurant use). The building's unique character and prime downtown location make it an attractive investment. The lease rate is $10.00 per square foot, plus NNN utilities. This property offers a significant opportunity for a discerning tenant seeking a distinctive and well-located space.

    Property Features for 241 Franklin St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,674 SF
    Total Rate
    3895

    Unit(s) available at that property

    Space
    Size
    4,674 SF
    Rate per SF
    $10

    HighLights

    • Retail property totaling 4,674 square feet.
    • Single‑tenant freestanding building.
    • Located at 241 N Franklin St, Hanover, PA.
    • Situated on a 2.6‑acre lot.
    • Zoned Local Business, York County.
    • Features exposed brick, 18‑30' high ceilings, and ample windows.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Freestanding property

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    York
    State
    Pennsylvania
    Longitude
    -76.9872556
    Latitude
    39.8028104

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    FAQs

    What type of property is this?
    Individual retail property - Unique freestanding retail space, 4,674 sq ft.
    Where is this individual retail property located?
    The property is located at 241 Franklin St Hanover, PA.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: Retail property totaling 4,674 square feet.; Single-tenant freestanding building.; Located at 241 N Franklin St, Hanover, PA.
    Request Owner's contact information
    241 Franklin 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 Franklin St Hanover, PA 17331
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