1186 Walnut Bottom Rd, Unit | Carlisle Carlisle, PA 17015

Property Details for 1186 Walnut Bottom Rd

Year built

1997

Property type

Retail space

APN

40-23-0604-022 U2

APU

40230604022U2

Description

This exceptional investment opportunity presents a 24,584 square foot, single-story shopping center in Carlisle, Pennsylvania. The property, built in 1997 and renovated in 2015, boasts a prime location on Walnut Bottom Road, directly adjacent to the UPMC Carlisle Hospital Campus and a new mixed-use Town Center development. Currently 86% occupied, the center features Planet Fitness, occupying approximately 18,000 square feet, and UPMC Central Pennsylvania Surgical Associates, leasing 3,500 square feet. Planet Fitness recently signed a five-year lease extension with built-in rent increases, extending their tenancy to 2033. UPMC also signed a new four-year lease commencing in Q2 2023, including annual rent increases and a right of first option to expand into an adjacent 2,252 square foot vacant space. The property benefits from its strategic location along the Interstate I-81 corridor, a major East Coast logistics artery. The asking price is $3,695,000, translating to $150.30 per square foot. This NNN leased property offers a compelling value-add opportunity with potential for increased rental income through leasing the remaining vacant space and future rent escalations. The property is situated within the Township's Walnut Bottom Corridor Master Plan, a catalyst site focused on sustainable growth and mixed-use development. This plan includes a new WellSpan anchored medical campus and a new housing community. The strong tenant mix, prime location, and significant upside potential make this a highly attractive investment.

Location Insight

City

Carlisle

County

Cumberland

State

Pennsylvania

Longitude

-77.2185

Latitude

40.1781

CBSA code

25420

CBSA name

HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments