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    1091 E Main St Palmyra, PA 17078
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    1091 E Main St Palmyra, PA 17078

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    • Commercial land
    For Sale
    $549,950
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    Prime Retail Development Site For Sale
    $549,950
    1,980 SF

    Prime Retail Development Site

    0.55-acre site with existing retail structure on Route 422.

    1091 E Main St, Palmyra, PA 17078
    View Listing
    Property ID
    US73-3361031
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 1091 E Main St

    Property type
    Commercial land
    Property subtype
    Retail space

    Description

    Prime Development Site with Existing Retail Structure This 0.55-acre property, strategically located along Route 422 in a Highway Commercial zone, presents a prime opportunity for development or continued use of the existing retail/office with the existing 1,980 sq ft brick building adding immediate functionality. Enjoying high visibility and a traffic count of approximately 18,000 CPD, it is adjacent to national retailers like Auto Zone, Mavis Discount Tires, Weis Markets, and Wendy's. All utilities are readily available on-site, streamlining the development process. The flexibile Highway Commercial zoning caters to various development possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Palmyra
    County
    Lebanon
    State
    Pennsylvania
    Longitude
    -76.57878
    Latitude
    40.316074

    Comparable in this City

    • Contact for pricing
      2,500 SF

      Retail Pad Site on Route 422

      High-visibility pad site approved for retail building.
      940 E Main St, Palmyra, PA 17078
      View Details
    • Contact for pricing

      Commercial Land at Signalized Intersection

      1.85 acre commercial land with high visibility and parking.
      840 East Main St, Palmyra, PA 17078
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    • $250,000
      10.28 Acres

      Versatile Palmyra Land Parcel

      10.28-acre parcel with excellent connectivity to major routes.
      440 E Patrick Rd, Palmyra, PA 17078
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    • $1,600,000

      Prime Retail Land on Route 422

      1.7 acres of commercial land in high-traffic retail area.
      E Main St, Palmyra, PA 17078
      View Details
    • $59,900
      0.21 Acres

      Palmyra PA Buildable Lot

      Flat, buildable lot in Palmyra Area School District.
      Palmyra, PA 17078
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,500 SF

      Retail Pad Site on Route 422

      High-visibility pad site approved for retail building.
      940 E Main St, Palmyra, PA 17078
      View Details
    • Contact for pricing

      Commercial Land at Signalized Intersection

      1.85 acre commercial land with high visibility and parking.
      840 East Main St, Palmyra, PA 17078
      View Details
    • $250,000
      10.28 Acres

      Versatile Palmyra Land Parcel

      10.28-acre parcel with excellent connectivity to major routes.
      440 E Patrick Rd, Palmyra, PA 17078
      View Details
    • $1,600,000

      Prime Retail Land on Route 422

      1.7 acres of commercial land in high-traffic retail area.
      E Main St, Palmyra, PA 17078
      View Details
    • $59,900
      0.21 Acres

      Palmyra PA Buildable Lot

      Flat, buildable lot in Palmyra Area School District.
      Palmyra, PA 17078
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Pad Site on Route 422

      High-visibility retail pad site in Palmyra, PA for lease.
      940 E Main St, Palmyra, PA 17078
      View Details
    • Contact for pricing

      Anchored Grocery Center For Lease

      69,136 SF shopping center anchored by Redner's Market.
      101 Northside Cmns, Palmyra, PA 17078
      View Details
    • Contact for pricing

      Anchored Shopping Center For Lease

      111,051 square foot shopping center in Palmyra, PA.
      901 E Main St, Palmyra, PA 17078
      View Details
    • Contact for pricing

      Grantville Commercial Property For Sale

      Versatile commercial property with redevelopment potential near Hershey, Pennsylvania.
      1976 Laudermilch Rd, Palmyra, PA 17078
      View Details
    View Listing
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    Palmyra, PA 17078
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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.

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