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    Hanover Warehouse with Rail Access Title is generated by Realmo AI

    Ridge Ave, Hanover, PA 17331

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    407,680 SF warehouse divisible to 203,840 SF with rail access.

    Type:Industrial
    Property size:
    407,680 SF
    Added:
    May 8, 2023
    Days on Market:
    1119
    Last Refresh:
    May 12 at 9:00 pm

    Property Features for Ridge Ave

    General Information

    Standard status
    Active
    Size
    407,680 SF
    Property subtype
    Industrial

    Spaces For Lease

    at Ridge Ave Contact us

    We can help!

    Listing Contact
    Erin Downey
    Erin Downey

    Listing agent Erin Downey License #PA RS350703

    Listing office Lee & Associates | Eastern Pennsylvania - Central PA

    Listing date May 8, 2023

    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 Lee & Associates | Eastern Pennsylvania - Central PA

    HighLights

    • Rail capable building.
    • Divisible to 203,840 Sq Ft.
    • Offers a total of ± 407,680 Sq Ft.
    • Benefit from a 36’ Building Clear Height.
    • Includes 40 docks, expandable up to 96.
    • Ample parking with space for 432 cars.

    Overview

    This warehouse building offers approximately 407,680 square feet, divisible to 203,840 square feet. It features build-to-suit industrial zoning and parking for 432 cars. The property includes 56 off-wall trailer spaces. The building has a 36-foot clear height at the first column from the docks. Column bay spacing is typically 50 feet by 56 feet, with 60-foot deep speed bays. The truck court measures 185 feet and 120 feet, featuring a 60-foot concrete apron. Trailer storage is available with 56 off-wall trailer stalls, each 65 feet deep with a 10-foot dolly strip. There are 40 docks, expandable up to 96. The property is rail capable.
    Property Profile Location Intelligence

    Current Use by Public Records

    Warehouses

    Similar Places Nearby

    • Capital Storage — 250 e chestnut st, hanover, pa 17331
    • J & V Self Storage — 415 Pleasant St, Hanover, PA 17331
    • Hanover Storage Facility — 19 Baltimore St, Hanover, PA 17331
    • Loretto Self Storage Unit — 33 frederick st, hanover, pa 17331
    • Prime Storage — 250 E Chestnut St, Hanover, PA 17331

    Map

    City
    Hanover
    County
    York
    State
    Pennsylvania
    Longitude
    -76.976944
    Latitude
    39.809703

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    FAQs

    What type of property is this?
    Warehouse - 407,680 SF warehouse divisible to 203,840 SF with rail access.
    Where is this warehouse located?
    The property is located at Ridge Ave Hanover, PA.
    What are key features of this property?
    This property features: Rail capable building.; Divisible to 203,840 Sq Ft.; Offers a total of ± 407,680 Sq Ft.
    (717) 562-0901 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Erin Downey
    Erin Downey
    Real Estate License ID: PA RS350703
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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.

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