Property profile

1510 Cornwall Rd Lebanon, PA 17042

OFF-MARKET
Medical Office Space
Property ID
US73-3513681
8,220 SF 1.15 ac lot Built 1990
Individually Owned 13-yr Hold Free & Clear
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional two-story office building, located at 1510 Cornwall Road in Lebanon, Pennsylvania, presents a compelling investment opportunity. Spanning 8,100 square feet on a 1.15-acre lot, the property is zoned for Office/Institutional use and offers a versatile layout suitable for various professional needs. The upper level, encompassing 4,200 square feet, was previously utilized as a single-tenant medical office, showcasing its adaptability for specialized practices. The lower level is currently divided into three separate suites, each independently occupied by professional and medical tenants, demonstrating strong existing occupancy and rental income potential. The building's asking price is $1,200,000, translating to a price per square foot of $148.15. This represents a significant opportunity for investors seeking a multi-tenant property with established tenants and diverse usage possibilities. An adjacent vacant lot is also available for purchase, offering potential for expansion or additional development, further enhancing the property's value and long-term prospects. The property's location in Lebanon, Pennsylvania (zip code 17042), provides convenient access to local amenities and transportation networks. This is a rare opportunity to acquire a well-maintained, multi-tenant office building in a desirable location with significant upside potential. The property's diverse tenant base and flexible floor plan make it an ideal investment for both seasoned and emerging investors in the commercial real estate market.

Property profile

Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1990
Total area 8,220 SF
Lot 1.15 ac (50,094 SF)
APN 26-2339991-361975-0000
UPID US73-3513681

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Physician Medical Clinic
  • Ophthalmologist
  • Physician Medical Clinic
  • Physician
  • Physician

Location

1510 Cornwall Rd Lebanon, PA 17042-7403
Lebanon metro Census 3500 LEBANON, PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$840k
Blend (final) Blend
$845k

Owner & transaction history

since 2013
1 recorded transaction
2013
$250,000

Zoning & alternative use

Top alternative use upside
Restaurant $1.3M +31.4%
Auto repair, garage $1.1M +18.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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 1510 Cornwall Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
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