Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1 2nd St Harrisburg, PA 17101-1601

    • Hotels
    • 218,468 SF
    • 0.76 lot acres
    OFF-MARKET
    Value Estimations
    $20,525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1284799
    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

    • Chops Barbershop and Fine Grooming Products / Barber Shop
    • M.C.Y. Express Transportation Services LLC / Transportation Service
    • Harrisburg City Guide / Real Estate / Entertainment
    • Ad Lib Craft Kitchen & Bar / American Restaurant / Bar
    • The Patio at the Hilton Harrisburg / American Restaurant / Bar

    Property Details for 1 2nd St

    Year built
    1990
    Lot size
    0.76 lot acres
    Property size
    218,468 SF
    Property type
    Hotels
    Property subtype
    Motels
    APN
    03-003-039
    APU
    3003039

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $27,395,000
      6.5%
      $25,290,000
      7%
      $23,480,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $12,683,000
      Market price range: $3.13M - $21.7M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $32,070,000
      RETAIL STORES
      $30,825,000
      RESTAURANT
      $30,115,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8819
    Latitude
    40.2603
    CBSA code
    25420
    CBSA name
    HARRISBURG-CARLISLE, 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
    2023
    $754,261
    $3,010,900
    $12,662,300
    $15,673,200
    -
    $3,010,900
    $12,662,300
    $15,673,200

    Comparable in this City

    • Value Estimation
      $8,730,000
      146,966 SF

      23 2nd St

      HOTEL/MOTEL • 146,966 SF
      23 2nd St, Harrisburg, PA 17101-2004
      View Details
    • Value Estimation by Request
      162,001 SF

      320 Market St

      Retail properties • 162,001 SF
      320 Market St, Harrisburg, PA 17101
      View Details
    • Value Estimation by Request
      0.01 Acres

      263 Liberty St

      PARKING LOT • 0.01 Acres
      263 Liberty St, Harrisburg, PA 17101
      View Details
    • Value Estimation by Request
      0.05 Acres

      117 Hancock St

      PARKING LOT • 0.05 Acres
      117 Hancock St, Harrisburg, PA 17101
      View Details
    • Value Estimation by Request
      0.14 Acres

      147 Cameron St

      VACANT COMMERCIAL LAND • 0.14 Acres
      147 Cameron St, Harrisburg, PA 17101
      View Details
    • Value Estimation
      $3,645,000
      102,240 SF

      200 3rd St

      OFFICE (GENERAL) • 102,240 SF
      200 3rd St, Harrisburg, PA 17101-1585
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.06 Acres

      Downtown Harrisburg Parking Lot

      Ten Spaces, Capitol Block, Lease Available
      248 North St, Harrisburg, PA 17101
      View Details
    • $1,795,000
      20,000 SF

      Downtown Harrisburg Mixed-Use Property

      Mixed-use property with restaurants and office space in Harrisburg.
      201 N 2Nd St, Harrisburg, PA 17101
      View Details
    • $1,200,000
      14,040 SF

      Historic Harrisburg Medical Office Building

      Riverfront Medical Office, 14,040 SF, $1.2M
      213 Front St, Harrisburg, PA 17101
      View Details
    • Contact for pricing

      Harrisburg Multifamily Investment Portfolio

      Three mixed-use buildings in Harrisburg, PA, for sale.
      902 State St, Harrisburg, PA 17101
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space on 2nd Street

      2,100 SF retail space in Harrisburg's high-traffic area.
      306 N 2Nd St, Harrisburg, PA 17101
      View Details
    • $14,950,000

      Riverfront Office Building with Parking

      Single-tenant office building with covered parking and long-term lease.
      305 North Front St, Harrisburg, PA 17101
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      11,998 SF

      Downtown Harrisburg Restaurant Space

      Prime 11,998 sq ft retail space, ideal for redevelopment.
      321 2Nd St, Harrisburg, PA 17101
      View Details
    • $3 SF/Yr
      25,900 SF

      Harrisburg Industrial Warehouse For Sale

      Spacious warehouse, ideal for storage, prime location.
      206 Cameron St, Harrisburg, PA 17101
      View Details
    • $21 SF/Yr
      1,100 SF

      Premium Harrisburg Office Space

      High-profile office space in downtown Harrisburg with river views.
      100 Market St, Harrisburg, PA 17101
      View Details
    • Contact for pricing
      21,000 SF

      Class A Office Space Harrisburg

      Class A office space in downtown Harrisburg's prestigious building.
      17 North 2Nd St, Harrisburg, PA 17101
      View Details
    • $16 SF/Yr
      20,000 SF

      Downtown Harrisburg Office Space

      Unique Creative Office Suites Available
      201 2Nd St, Harrisburg, PA 17101
      View Details
    • $25 SF/Yr
      1,700 SF

      Downtown Harrisburg Retail Space

      Prime location, 1700 sq ft, newly developed.
      210 3Rd St, Harrisburg, PA 17101
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1 2nd St
    Harrisburg, PA 17101-1601
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.