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    1223 Chocolate Ave Hershey, PA 17033

    Sponsored
    For Sale
    $515,000

    Prime Hershey location, 2 units, 100% occupied.

    Property size:
    2,850 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property in Hershey, Pennsylvania, presents a compelling investment opportunity. Located at 1223 E Chocolate Ave, this stabilized investment boasts 2,850 square feet across two stories, situated on a 0.84-acre lot (APN 62-17-217). The property is currently 100% occupied with a diverse tenant mix, including a personal services business in a three-year lease with two five-year options, and long-term tenants in the upper-level apartment and garage/workshop. The first floor comprises 1,400 square feet of retail space. The asking price is $515,000, representing a price per square foot of $180.70. The property is zoned Palmdale MU and offers off-street parking. Currently operating at a 6.1% cap rate, this property offers significant value-add potential through lease structure adjustments, such as transitioning tenants to a net-net-net (NNN) lease, and implementing rent escalations. This makes it an ideal addition to an existing portfolio or a strong starting point for new investors seeking a stable, income-producing asset in a highly desirable Hershey location, just minutes from the downtown area. The property includes a one-bedroom apartment and a garage/workshop, adding to its versatility and income streams.

    Property Features for 1223 Chocolate Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    2,850 SF
    Lot Size
    36,590 SF

    Building Details

    Stories
    2
    Units
    2

    HighLights

    • $515,000 asking price for a stabilized mixed‑use investment property.
    • 2,850 square feet on a 0.84‑acre lot in Hershey, PA.
    • 100% occupancy with two units: a retail space and an apartment.
    • Located minutes from downtown Hershey, offering a highly desirable location.
    • Value‑add opportunity through lease restructuring and potential rent increases.
    Property Profile Location Intelligence

    Current Use by Public Records

    VeVe Medspa of Hershey Medical Spa

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hershey
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.6222499
    Latitude
    40.296587

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    Nearby Similar for Sale

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      Hershey Office Building - Prime Location

      Turn-key office/medical building, excellent condition.
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      Hershey Office Building For Lease

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      Hershey Retail Bank Building For Sale

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Hershey location, 2 units, 100% occupied.
    Where is this mixed-use property located?
    The property is located at 1223 Chocolate Ave Hershey, PA.
    What is the asking price?
    The asking price for this property is $515,000.
    What are key features of this property?
    This property features: $515,000 asking price for a stabilized mixed-use investment property.; 2,850 square feet on a 0.84-acre lot in Hershey, PA.; 100% occupancy with two units: a retail space and an apartment.
    (717) 731-1990
    Request Owner's contact information
    1223 Chocolate Ave Hershey, PA 17033
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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
    1223 Chocolate Ave Hershey, PA 17033
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