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

    124 State St Harrisburg, PA 17101-1026

    • Office Properties & Spaces
    • 3,552 SF
    • 0.03 lot acres
    OFF-MARKET
    Last Sale
    Mar 05, 2020
    $195,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1786120
    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

    • Office Properties & Spaces

    Property Details for 124 State St

    Year built
    1920
    Lot size
    0.03 lot acres
    Property size
    3,552 SF
    Property type
    Office Properties & Spaces
    APN
    04-026-010
    APU
    4026010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8877
    Latitude
    40.2631
    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
    $10,829
    $41,100
    $185,200
    $226,300
    -
    $41,100
    $185,200
    $226,300

    Comparable in this City

    • 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
    • Value Estimation by Request
      12,000 SF

      714 3Rd St

      Office Properties & Spaces • 12,000 SF
      714 3Rd St, Harrisburg, PA 17101
      View Details
    • Value Estimation by Request
      5,964 SF

      204 State St

      OFFICE (GENERAL) • 5,964 SF
      204 State St, Harrisburg, PA 17101-1132
      View Details
    • Value Estimation by Request
      5,004 SF

      227 State St

      OFFICE (GENERAL) • 5,004 SF
      227 State St, Harrisburg, PA 17101-1191
      View Details
    • Value Estimation
      $13,135,000
      196,075 SF

      228 Walnut St

      OFFICE (GENERAL) • 196,075 SF
      228 Walnut St, Harrisburg, PA 17101-1714
      View Details
    • Value Estimation by Request
      3,364 SF

      234 Liberty St

      OFFICE (GENERAL) • 3,364 SF
      234 Liberty St, Harrisburg, PA 17101-1104
      View Details

    Similar Nearby for Sale

    • $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
    • $10,950,000
      98,520 SF

      Harrisburg Office Building, $10.95M

      Prime Harrisburg Office, Riverfront Views
      100 Pine 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
    • $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
    • $649,000
      6,354 SF

      Renovated Office Building with Parking

      Turn-key, renovated office building near transportation hub with gated parking.
      1006 Market St, Harrisburg, PA 17101
      View Details
    • $1,200,000

      Historic Building on Susquehanna Riverfront

      Stately 3-story brick building with river views and parking.
      213 N Front St, Harrisburg, PA 17101
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      20,000 SF

      Historic Harrisburg Executive Suites

      Prestigious Downtown Office Space Available
      208 3Rd St, Harrisburg, PA 17101
      View Details
    • Contact for pricing
      5,488 SF

      Steelton Office Space Available

      Prime Harrisburg office, multiple suites.
      30 3Rd St, Steelton, 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
    • $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
    • $19 SF/Yr
      70,854 SF

      Premier Office Space For Rent

      Class A office building with flexible floor plans available.
      212 Locust 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.
    124 State St
    Harrisburg, PA 17101-1026
    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.