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    Property profile & analytics

    106 State St Harrisburg, PA 17101-1024

    • Investment properties
    • 2,648 SF
    • 0.02 lot acres
    OFF-MARKET
    Value Estimations
    $205,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0183710
    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

    • Investment properties

    Property Details for 106 State St

    Year built
    1860
    Lot size
    0.02 lot acres
    Property size
    2,648 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    04-034-006
    APU
    4034006

    Description

    This charming three-unit apartment building, constructed in 1860 and renovated in 2014, presents a unique investment opportunity in Harrisburg, Pennsylvania. Located at 106 State Street, this property boasts 2,648 square feet on a 0.02-acre lot (APN 04-034-006) and is situated in a highly desirable neighborhood between North Front Street and the Pennsylvania State Capitol building. The building features three stories, large windows providing ample natural light, and private entrances for each unit. Its permitted zoning is Riverfront, reflecting its prime location near Riverfront Park and the Capital Area Greenbelt. The property benefits from its proximity to major employers such as the Pennsylvania State Capitol Complex, UPMC Harrisburg Hospital, and the Sylvia H. Rambo United States Federal Courthouse, as well as numerous amenities including City Island, Strawberry Square, and various restaurants and cafes. Easy access to major transportation arteries, including I-83, I-76 (PA Turnpike), I-81, the Harrisburg Transportation Center (Amtrak, Greyhound, and local transit), and Harrisburg International Airport, further enhances its appeal. The asking price for this well-maintained historic property is $295,000. Downtown Harrisburg's ongoing revitalization and increased investment make this a compelling opportunity for investors seeking a strong return in a vibrant urban setting. This property offers a blend of historic character and modern convenience in a location that is both walkable and easily accessible to major transportation routes.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $240,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $166,000
      Market price range: $142k - $278k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $190,000
      Current use
      MEDICAL BUILDING
      $390,000
      Change: +106% Conversion: Easy
      RETAIL STORES
      $375,000
      Change: +98% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8884
    Latitude
    40.2628
    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
    $5,228
    $27,300
    $77,500
    $104,800
    -
    $27,300
    $77,500
    $104,800

    Comparable in this City

    • Value Estimation
      $745,000
      162,001 SF

      300 Market St

      OFFICE/RESIDENTIAL (MIXED USE) • 162,001 SF
      300 Market St, Harrisburg, PA 17101-2208
      View Details
    • Value Estimation
      $480,000
      8,976 SF

      210 3rd St

      OFFICE/RESIDENTIAL (MIXED USE) • 8,976 SF
      210 3rd St, Harrisburg, PA 17101-1501
      View Details
    • Value Estimation
      $225,000
      2,687 SF

      125 State St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,687 SF
      125 State St, Harrisburg, PA 17101-1025
      View Details
    • Value Estimation
      $210,000
      2,325 SF

      407 Walnut St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,325 SF
      407 Walnut St, Harrisburg, PA 17101
      View Details
    • Value Estimation
      $300,000
      3,822 SF

      510 2nd St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,822 SF
      510 2nd St, Harrisburg, PA 17101-1002
      View Details
    • Value Estimation
      $275,000
      6,044 SF

      227 2nd St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,044 SF
      227 2nd St, Harrisburg, PA 17101-1420
      View Details

    Similar Nearby for Sale

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      0.07 Acres

      Renovated Harrisburg Mixed-Use Investment Property

      Fully occupied, renovated 4-unit building near the Capital Complex.
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      View Details
    • $305,900
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      Mixed-Use Property in Downtown Harrisburg

      Turn-key delicatessen with apartment in Harrisburg's vibrant downtown.
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      View Details
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      High-Visibility Mixed-Use Building

      Mixed-use property with commercial space and apartments in high-traffic area.
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      0.06 Acres

      Downtown Harrisburg Parking Lot

      Ten Spaces, Capitol Block, Lease Available
      248 North St, Harrisburg, PA 17101
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    • $1,200,000
      14,040 SF

      Historic Harrisburg Medical Office Building

      Riverfront Medical Office, 14,040 SF, $1.2M
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    • Contact for pricing

      Harrisburg Multifamily Investment Portfolio

      Three mixed-use buildings in Harrisburg, PA, for sale.
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      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      288,000 SF

      Class A Mixed-Use Space

      Premier office, commercial, and residential space in downtown Harrisburg.
      301 Chestnut St, Harrisburg, PA 17101
      View Details
    • Contact for pricing
      17,822 SF

      Harrisburg CBD Retail Spaces Available

      Prime Harrisburg location, multiple retail spaces.
      31 3Rd St, Harrisburg, PA 17101
      View Details
    • Contact for pricing
      7,100 SF

      Harrisburg Restaurant Space - Market Square

      7,100 SF Restaurant/Retail Space in Downtown Harrisburg.
      17 2Nd St, Harrisburg, PA 17101
      View Details
    • $20 SF/Yr
      194,523 SF

      Class A Office Building

      Class A office building with skywalk and connected parking.
      30 N 3Rd St, Harrisburg, PA 17101
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Harrisburg CBD

      Retail space in Harrisburg's central business district.
      19 S 3Rd 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
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    106 State St
    Harrisburg, PA 17101-1024
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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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