New search
Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Medical Office Space
1108 Chocolate Ave, Hershey, PA 17033-1242
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US73-2346892
Property summary
AI-generated overview
This well-maintained, single-story medical office building in Hershey, Pennsylvania, offers a compelling investment opportunity. Located at 1108 E Chocolate Ave, this 7,692 square foot Class B property sits on a 0.45-acre lot and features 30 parking spaces, including 19 covered spaces. Built in 1984 and renovated in 2019, the building is currently 67% occupied, with two suites leased to established medical tenants: Endodontics Associates and Dr. Mayes. A third suite is available, presenting an ideal opportunity for an owner-user or additional rental income. The property is zoned for mixed-use within the Pamldale zoning district, offering potential for future expansion. Its prime location across from the Hershey Country Club and minutes from downtown Hershey provides excellent visibility and accessibility. The strong in-place cash flow from existing tenants makes this a sound investment with potential for significant return. This multi-tenant building offers a blend of existing income and future development possibilities in a highly desirable Hershey location.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1984
Total area
7,043 SF
Lot
0.45 ac (19,602 SF)
APN
24-006-160
UPID
US73-2346892
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dr. Neha J. Patel, DDS Dental Office
-
Hershey Dentist | Mayes John O DMD | Hershey PA General Dentistry Dental Office
-
Dmach Robert G DDS Dental Office
-
Kline Ross E Dr Dental Office
-
Periodontal Associates: Rogliano Karen C DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$788k
Blend (final)
Blend
$800k
Owner & transaction history
Chocolate Ave Professional Ctr Re P · 4 yrs held
Chocolate Ave Professional Ctr Re P
since 2022
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hershey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hershey submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,165,000
Current use
COMMERCIAL (GENERAL)
$1,165,000
Change: 0% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,145,000
Change: -2% · Conversion: Difficult
RETAIL STORES
$1,020,000
Change: -12% · Conversion: Difficult
RESTAURANT
$995,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$800k
Range $720k – $880k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$114 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$23,042
Tax year 2023
Assessed value
$798,700
Assessed 2024
Previous assessed
$798,700
+0.0% YoY
Effective rate
2.88%
On assessed value
Assessed land
$133,000
Assessed improvement
$665,700
Land market value
$133,000
Improvement market value
$665,700
Total market value
$798,700
Applied tax rate
24.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1984
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
7,043 SF
Lot
0.45 ac (19,602 SF)
APN
24-006-160
UPID
US73-2346892
Jurisdiction
DAUPHIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
RESTAURANT
Est. value
$995,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.45 ac
Current owner
From public records · entity-resolved
Chocolate Ave Professional Ctr Re P
Individual
Mailing address
1199 COLONIAL RD, HARRISBURG, PA 17112-1900
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2022
—
Chocolate Ave Professional Ctr Re P
—
Deed
related
$900,000 · First National Bank Of Pennsylvania
—
—
Chocolate Avenue Prof Center R
—
Deed Of Trust
related
$60,000 · Metro Bk
—
—
Chocolate Avenue Prof Center R
—
Deed Of Trust
related
$445,000 · Commerce Bk/harrisburg
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1108 Chocolate Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
