Former Carwash on Retail
For Sale
Contact for pricing
973-975 E Main St, Palmyra, PA
12,224 SF former carwash on 1.63 acres for sale.
Property Size12,224 SF
Lot Size1.68 Acres
Price / SF$159.52
Days on Market888
Property Features for 973-975 E Main St
General Information
Standard status
Active
Size
12,224 SF
Lot size
1.68 Acres
Property subtype
RETAIL
Listing Agency:
NAI CIR | Lemoyne
(717) 761-5070
Listed By:
Nik Sgagias · License #AB069294
(717) 439-9453
Source:
Moodyscre
Added: May 16, 2024
Changed: Oct 11
Last Checked: Oct 19 at 4:32AM
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 NAI CIR | Lemoyne
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property is a 12,224 square foot former carwash situated on 1.63 acres. It is located on Route 422 in Palmyra, Pennsylvania, a heavily traveled retail corridor with ample frontage. The location is central to Harrisburg, Lebanon, and Lancaster, driving residential population growth and commercial development. The property is zoned Highway Commercial and benefits from high visibility. The average daily traffic count is 18,183 vehicles per day on Route 422. The property is surrounded by national retailers, including CVS, McDonalds, Mavis Discount Tires, and Sheetz.
Key Highlights
- Prime location on heavily traveled Route 422 retail corridor.
- High visibility with 18,183 VPD average daily traffic.
- 1.63 acres of land.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,713
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,774,260
$2.8M
Cap Rate 7%
$1,981,614
$2.0M
Cap Rate 9%
$1,541,256
$1.5M
Market Conditions
NOI Build-Up for 12,224 SF
Gross rent
$195.1K $15.96/SF
− Vacancy
−$10.1K −$0.83/SF
EGI
$185.0K $15.13/SF
− OpEx
−$46.2K −$3.78/SF
NOI
$138.7K $11.35/SF
Area
Lebanon County, PA
Vacancy
5.20%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,774,260
Cap Rate 7%
$1,981,614
Cap Rate 9%
$1,541,256
Alternative Uses
Best Use
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,713 @ 7.0% cap · market cap 7.11%
Second Best
Retail
$1.64M
$1.44M – $1.91M
NOI $114,875 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$2.87M
$2.51M – $3.35M
NOI $200,845 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
154k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 43%
Dining 26%
Groceries 20%
Apparel 5%
Sheetz
Shops & Services
46,738 visits/mo
0.3 miles
McDonald's
Dining
28,226 visits/mo
0.2 miles
Weis Markets
Groceries
25,994 visits/mo
0.3 miles
Wendy's
Dining
9,837 visits/mo
0.4 miles
Goodwill
Apparel
8,311 visits/mo
0.2 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Car wash - 12,224 SF former carwash on 1.63 acres for sale.
Where is this car wash located?
The property is located at 973-975 E Main St Palmyra, PA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Prime location on heavily traveled Route 422 retail corridor.; High visibility with 18,183 VPD average daily traffic.; 1.63 acres of land.
