Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    398 York St Hanover, PA 17331

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in high-traffic Hanover mini mall.

    Type:Retail
    Added:
    Apr 30, 2024
    Days on Market:
    722
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for 398 York St

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 398 York St Contact us

    We can help!

    Listing Contact
    Andrea Shanbarger

    Listing agent Andrea Shanbarger License #FLBO

    Listing office Trone Rental Properties, LLC

    Listing date Apr 30, 2024

    Source Crexi

    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 Trone Rental Properties, LLC

    Overview

    Retail Space in York Mini Mall

    Retail space is available at York Street Mini Mall, situated at 398 York Street, Hanover, PA 17331. The location benefits from high traffic and excellent visibility. Established businesses such as Family Dollar, Smokers Express, China Wall, and Boli's Pizza are located nearby. The property features two illuminated signs to maximize exposure, including one on top of the mini mall and another on the pedestal sign on York Street. This location offers a convenient and affordable opportunity to establish a business in a well-established mini mall with significant customer traffic.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kirby Comics (Bike/Boat/Book/etc) Store Pizza Boli's Restaurant Alpha Massage Therapy Alternative Medicine Practice Tara Udzinski - Certified ... Alternative Medicine Practice Alpha Strength Training Gym & Fitness Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    York
    State
    Pennsylvania
    Longitude
    -76.975467
    Latitude
    39.799609

    Nearby Similar for Lease

    • Contact for pricing

      Historic Brick Building in Hanover

      Multi-story building suitable for various commercial and mixed-uses.
      241 N FRANKLIN Street, HANOVER, PA 17331
      View Details
    • Contact for pricing

      Hanover Office Space For Lease

      2150 SF office space in Hanover, tenant customization options.
      1147 EICHELBERGER Street, HANOVER, PA 17331
      View Details
    • $12/mo

      Modern Office Space For Sublease

      Clean, modern office space in Hanover, available for sublease.
      14 Barnhart Dr, Hanover, PA
      View Details
    • $8/mo

      York Street Showroom and Service

      Showroom and service area suitable for vehicle-related businesses.
      910 York St, Hanover, PA
      View Details
    • Contact for pricing

      Hanover Office Suites For Rent

      Office suites available in Hanover, PA with flexible terms.
      501 Ridge Avenue, Hanover, PA 17331
      View Details
    • Contact for pricing

      Retail Space Next to Home Depot

      Prime retail space available next to The Home Depot.
      400 Eisenhower Dr., Hanover, PA 17331
      View Details
    • Contact for pricing

      Food-Grade Warehouse with Office Space

      87,000 SF food-grade warehouse with convenient highway access.
      350 Kindig Lane, Hanover, PA, 17331
      View Details
    • $12/mo

      Downtown Hanover Office Space

      Recently renovated office space in historic downtown Hanover building.
      37 Broadway, Hanover, PA
      View Details
    • Contact for pricing

      Hanover Office Building For Rent

      Class B office building in Hanover, PA, renovated in 2003.
      1040 High Street, Hanover, PA, 17331
      View Details
    • $18/mo

      Retail Space in Modern Strip

      In-line retail space suitable for various business types.
      1446e Baltimore St, Hanover, PA
      View Details
    • Contact for pricing

      Retail/Office Condo Units For Rent

      Combined condo units with retail visibility, ideal for retail/office.
      1157 Eichelberger St, Hanover, PA 17331
      View Details
    • $12/mo

      Office Space Near Hanover Square

      Office space with ample parking near Hanover's Eisenhower Drive.
      211 Carlisle St, Hanover, PA
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available in high-traffic Hanover mini mall.
    Where is this retail space located?
    The property is located at 398 York St Hanover, PA.
    What are key features of this property?
    This property features: High‑traffic location on York Street ensures excellent visibility.; Located within York Street Mini Mall with established businesses.; Includes two illuminated signs for maximum exposure.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Andrea Shanbarger
    Real Estate License ID: FLBO
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!