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    3812 Union Deposit Rd Progress, PA 17109
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    Property profile & analytics

    3812 Union Deposit Rd Progress, PA 17109

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    • Lifestyle centers
    • 215,735 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Coinstar Kiosk - Bitcoin ATM / Atm / Currency Exchange Service
    • Price Rite Marketplace of Harrisburg / Grocery & Convenience Store / Food Market
    • A Community of Blessings LLC / Daycare Center

    Property Details for 3812 Union Deposit Rd

    Property size
    215,735 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Dauphin Plaza, located at 3812 Union Deposit Rd in Harrisburg, Pennsylvania (zip code 17109), presents a prime retail investment opportunity. This fully occupied shopping center boasts a total of 215,735 square feet and comprises 33 individual suites, offering a diverse range of spaces suitable for various retail and restaurant businesses. Currently, there is zero vacant space within the center, indicating strong tenant demand and a stable income stream. The property is situated in Dauphin County and enjoys a convenient location in the Progress area of Harrisburg. Suite sizes range from 1,000 square feet to 4,800 square feet, providing flexibility for businesses of varying scales. The property's classification as both a shopping center and restaurant space reflects its versatility and ability to attract a wide range of tenants. This established center offers a proven track record of success in a thriving market, making it an attractive proposition for investors seeking a stable and high-performing retail asset. The property's address is easily accessible, providing excellent visibility and convenient access for customers. The absence of vacant space underscores the property's desirability and potential for continued strong performance. This is a rare opportunity to acquire a fully leased, high-performing retail center in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Progress
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8279
    Latitude
    40.2791

    Comparable in this City

    • Value Estimation by Request

      99 Progress Ave

      Neighborhood centers
      99 Progress Ave, Harrisburg, PA 17109
      View Details
    • Value Estimation
      $3,735,000
      284,737 SF

      3903 Un Deposit Rd

      SHOPPING CENTER, STRIP CENTER • 284,737 SF
      3903 Un Deposit Rd, Harrisburg, PA 17109-5922
      View Details
    • Value Estimation
      $13,720,000
      29,204 SF

      4811 Jonestown Rd

      SHOPPING CENTER, STRIP CENTER • 29,204 SF
      4811 Jonestown Rd, Harrisburg, PA 17109-1745
      View Details
    • Value Estimation
      $8,800,000
      371,502 SF

      4300 Jonestown Rd

      SHOPPING CENTER, STRIP CENTER • 371,502 SF
      4300 Jonestown Rd, Harrisburg, PA 17109-6208
      View Details
    • Value Estimation
      $2,110,000
      82,881 SF

      5005 Devonshire Rd

      SHOPPING CENTER, STRIP CENTER • 82,881 SF
      5005 Devonshire Rd, Harrisburg, PA 17109-1730
      View Details
    • Value Estimation by Request
      13,490 SF

      3960 Jonestown Rd

      SHOPPING CENTER, STRIP CENTER • 13,490 SF
      3960 Jonestown Rd, Harrisburg, PA 17109-2209
      View Details

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    Similar Nearby for Lease

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      Retail Space at Union Deposit

      Retail space available in Harrisburg, Pennsylvania with high visibility.
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      Retail Space in Harrisburg, PA

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      Retail Space at The Point

      Shopping center anchored by Giant Food Store and Burlington.
      4023 Union Deposit Rd, Harrisburg, PA 17109
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    • $9,000 /Mo

      Route 22 Corner Location

      Corner property on heavily traveled Route 22 near Colonial Park Mall.
      4301 Jonestown Rd, Harrisburg, PA 17109
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      Retail and Medical Space Available

      Retail and medical spaces for lease in Progress Plaza.
      99 N Progress Ave, Harrisburg, PA 17109
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      Versatile Commercial Suite for Lease

      1,495 SF suite ideal for daycare, office, or therapy.
      3301 Schoolhouse Ln, Harrisburg, PA 17109
      View Details
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    Progress, PA 17109
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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.

    More about this property
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    3812 Union Deposit Rd, Progress, PA, 17109
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