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    Property profile & analytics

    3901 Derry St Harrisburg, PA 17111

    • Neighborhood centers
    • 93,272 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • L Myers Associates / (Bike/Boat/Book/etc) Store / Printing Service
    • RF Fager Co / Plumbing Service / Building Supply
    • Paxtang Kitchen Remodeling Solutions / Hardware & Home Improvement / Interior Design
    • Mina Holdings, LLC / Take-out & Catering
    • Wyman Satterfield and Price / Loan Service

    Property Details for 3901 Derry St

    Property size
    93,272 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    This Harrisburg, PA retail strip center, located at 3901 Derry Street, offers multiple spaces for lease, ranging from 1,300 to 5,382 contiguous square feet. The 93,272 square foot complex sits on a 6.51-acre lot in Dauphin County, zoned for General Commercial use. High visibility is ensured by its location on Derry Street, a signalized corner, and ample parking. The property boasts a drive-through opportunity and excellent signage potential. Benefit from the high traffic counts and proximity to major retailers such as Home Depot, Target, JCPenney, PetSmart, and Christmas Tree Shops. Additional nearby businesses include hotels and Aetna Health Insurance, creating a strong retail environment. The minimum leasable space is 1,300 square feet. This prime location offers exceptional opportunities for businesses seeking high visibility and convenient access.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8193
    Latitude
    40.2565

    Comparable in this City

    • Value Estimation
      $1,910,000
      202,054 SF

      3501 Paxton St

      SHOPPING CENTER, STRIP CENTER • 202,054 SF
      3501 Paxton St, Harrisburg, PA 17111-1403
      View Details
    • Value Estimation
      $1,135,000
      43,707 SF

      4200 Derry St

      SHOPPING CENTER, STRIP CENTER • 43,707 SF
      4200 Derry St, Harrisburg, PA 17111-2609
      View Details
    • Value Estimation
      $1,725,000
      96,099 SF

      6301 Grayson Rd

      SHOPPING CENTER, STRIP CENTER • 96,099 SF
      6301 Grayson Rd, Harrisburg, PA 17111-3331
      View Details
    • Value Estimation by Request
      2,913 SF

      4203 Un Deposit Rd

      SHOPPING CENTER, STRIP CENTER • 2,913 SF
      4203 Un Deposit Rd, Harrisburg, PA 17111-2802
      View Details
    • Value Estimation
      $500,000
      12,614 SF

      3350 Paxton St

      SHOPPING CENTER, STRIP CENTER • 12,614 SF
      3350 Paxton St, Harrisburg, PA 17111-1464
      View Details
    • Value Estimation by Request
      13,997 SF

      3200 Paxton St

      SHOPPING CENTER, STRIP CENTER • 13,997 SF
      3200 Paxton St, Harrisburg, PA 17111-1339
      View Details

    Similar Nearby for Sale

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      Restaurant with High-Traffic Location

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    Similar Nearby for Lease

    • Contact for pricing
      157,414 SF

      East Park Center: Harrisburg Retail

      High-traffic retail center; 3 spaces available.
      4200 Derry St, Harrisburg, PA 17111
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    • $14 SF/Yr
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      Harrisburg Retail Plaza Investment

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      103,793 SF

      Harrisburg Retail Center Opportunity

      High-traffic retail space available in Harrisburg, PA.
      6301 Grayson Rd, Harrisburg, PA 17111
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    • Contact for pricing
      93,272 SF

      Derry Street Retail Center

      Harrisburg Retail Space Available
      3901 Derry St, Harrisburg, PA 17111
      View Details
    • Contact for pricing
      1,508 SF

      Retail Space in Harrisburg Center

      Retail space available in a recently renovated shopping center.
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      324,332 SF

      4640 High Pointe Blvd

      Restaurants • 324,332 SF
      4640 High Pointe Blvd, Harrisburg, PA 17111
      View Details
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    Harrisburg, PA 17111
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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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