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    4215 George Street Ext Manchester, PA 17345

    • Retail properties
    • 35,784 SF
    • 3.39 lot acres
    For Lease
    View listing
    Last Sale
    Sep 09, 2022
    $3,800,000
    Value Estimations
    $3,495,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-3617114
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail properties

    Property Details for 4215 George Street Ext

    Year built
    1975
    Lot size
    3.39 lot acres
    Property size
    35,784 SF
    Zone code
    CM
    Property type
    Retail properties
    APN
    26-000-MI-0126.A0-00000
    APU
    26000MI0126A000000

    Description

    Chester Square is a thriving 63,325 square foot retail shopping center strategically located in York County, serving the communities of Manchester and Mount Wolf. This multi-tenant property offers excellent visibility and accessibility, boasting a strong anchor tenant, Roses Department Store, ensuring consistent foot traffic. Currently, two retail spaces are available, ranging in size from 2,288 square feet to 6,400 square feet, providing flexibility for a variety of businesses. The center enjoys a diverse tenant mix, including established businesses such as Papa John's Pizza, The Compound, and Mommy's Lil Rascals Consignment Shop, creating a vibrant and complementary retail environment. This presents a unique opportunity for businesses seeking high-traffic locations within a well-established and successful shopping center. The property's prime location and existing tenant base offer immediate potential for growth and profitability. The available spaces are adaptable and ready for immediate occupancy, making this an attractive investment for businesses looking to expand or establish a presence in a thriving market. The center's strong anchor tenant and diverse tenant mix provide a stable and attractive environment for new businesses to thrive. This is an exceptional opportunity to secure retail space in a high-traffic, well-established shopping center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,495,000
      ML approach
      $3,785,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,730,000
      Current use
      RESTAURANT
      $4,260,000
      Change: +56% Conversion: Easy
      MEDICAL BUILDING
      $3,935,000
      Change: +44% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,665,000
      Change: +34% Conversion: Difficult
      WAREHOUSE, STORAGE
      $3,200,000
      Change: +17% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,000,000
      Change: +10% Conversion: Easy
      OFFICE BUILDING
      $2,915,000
      Change: +7% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    York
    State
    Pennsylvania
    Longitude
    -76.7228
    Latitude
    40.0462
    CBSA code
    49620
    CBSA name
    YORK-HANOVER, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $43,693
    $233,060
    $1,020,690
    $1,253,750
    -
    $233,060
    $1,020,690
    $1,253,750

    Comparable in this City

    • Value Estimation by Request
      1.14 Acres

      4334 George Ext St

      Retail properties • 1.14 Acres
      4334 George Ext St, Manchester, PA 17345
      View Details
    • Value Estimation by Request
      23,838 SF

      Shopping Ctr

      Lifestyle centers • 23,838 SF
      0 Shopping Ctr, Manchester, PA 17345
      View Details
    • Value Estimation by Request
      17,833 SF

      4324 George Street Ext

      Individual retail properties • 17,833 SF
      4324 George Street Ext, Manchester, PA 17345
      View Details
    • Value Estimation
      $360,000
      1,704 SF

      4370 George St Ext

      VEHICLE SALES, RENTALS • 1,704 SF
      4370 George St Ext, Manchester, PA 17345-1307
      View Details
    • Value Estimation
      $245,000
      2,740 SF

      64 Main St

      CAR WASH • 2,740 SF
      64 Main St, Manchester, PA 17345-1402
      View Details
    • Value Estimation
      $420,000
      13,350 SF

      4035 George St Ext

      RETAIL STORES (PERSONAL SERVICES) • 13,350 SF
      4035 George St Ext, Manchester, PA 17345-9203
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,180 SF

      Retail Space with Drive-Thru Potential

      11,180 SF retail space on 1.22 AC lot for lease.
      4135 N George Street Ext, Manchester, PA 17345
      View Details
    • $12 SF/Yr
      23,838 SF

      Manchester Retail Center Investment

      High-traffic shopping center with strong tenants.
      0 Shopping Ctr, Manchester, PA 17345
      View Details
    • Contact for pricing
      63,325 SF

      Chester Square Retail Center

      York County Anchored Shopping Center
      4215 George Street Ext, Manchester, PA 17345
      View Details
    • $12 SF/Yr
      17,833 SF

      Manchester Plaza: Retail Storefronts

      York County Retail Center - Four Spaces Available
      4324 George Street Ext, Manchester, PA 17345
      View Details
    • $12 SF/Yr
      1,200 SF

      Retail Space with High Visibility

      Retail space with high visibility, accessibility, and ample parking.
      4302 N George Street Ext, Manchester, PA 17345
      View Details
    • $690,000

      Industrial Land Near I-83

      6.2 acres with approved plans for truck repair facility.
      Devco Dr, Manchester, PA 17345
      View Details
    Request Owner's contact information
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    4215 George Street Ext
    Manchester, PA 17345
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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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