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Property profile & analytics
FOR LEASE
Individual retail properties
1665 Broadway, Hanover, PA 17331
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US73-2145006
For Lease
1 / 13
$20 SF/Yr
1665 Broadway, Hanover, PA 17331
View Listing →
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
2010
Total area
30,000 SF
Lot
5.6 ac (243,936 SF)
Zoning code
CM
APN
44-000-ED-0011.C0-00000
UPID
US73-2145006
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
-
Platinum Fitness Hanover Gym & Fitness Center
-
Performance Fitness Training Hanover Gym & Fitness Center
-
Jason Ellis Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.70M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.70M
Owner & transaction history
Hanover Realty Associates LLC · 2 yrs held
Hanover Realty Associates LLC
since 2024
Last sale
$3.7M
7 recorded transactions
Zoning & alternative use
CM · Hanover, PA
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 Hanover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hanover 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
$3,695,000
ML approach
$3,695,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,215,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,985,000
Change: 0% · Conversion: Difficult
RESTAURANT
$2,855,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$2,525,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$3.70M
Range $3.33M – $4.06M · ±10% · vs last sale $3.70M (Apr 5 2024)
Last sale anchor
$3.70M
Apr 5 2024
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
$123 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$68,173
Tax year 2024
Assessed value
$2,022,950
Assessed 2024
Previous assessed
$2,022,950
+0.0% YoY
Effective rate
3.37%
On assessed value
Assessed land
$270,030
Assessed improvement
$1,752,920
Land market value
$270,030
Improvement market value
$1,752,920
Total market value
$2,022,950
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
For Lease
Year built
2010
Heating
FORCED AIR
Cooling
CENTRAL
Total area
30,000 SF
Lot
5.6 ac (243,936 SF)
Zoning code
CM
APN
44-000-ED-0011.C0-00000
UPID
US73-2145006
Jurisdiction
YORK
Zoning & alternative use
CM · Hanover, PA
Zoning CM · permitted uses
CM · Hanover, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hanover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$3.0M
RESTAURANT
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.5M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
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
2010
Heating
FORCED AIR
Cooling
Yes
Lot
5.6 ac
Current owner
From public records · entity-resolved
Hanover Realty Associates LLC
Entity
Mailing address
1732 VLY VW DR, ALLENTOWN, PA 18104-6622
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2024
$3,695,000
Hanover Realty Associates LLC
R & R Fitness Real Estate LLC
Special Warranty Deed
—
Mar 13, 2020
—
R & R Fitness Real Estate LLC
—
Deed
related
$94,154 · Td Bank NA
Jan 15, 2020
—
R & R Fitness Real Estate LLC
—
Deed
related
$3,148,000 · Linkbank
Aug 3, 2010
—
R & R Fitness Real Estate LLC
—
Deed Of Trust
related
$1,633,000 · South Eastern Econ Dev Corp
Oct 9, 2009
$736,500
R & R Fitness Real Estate LLC
Schuler,john H II & Nancy J
Deed Of Trust
$2,310,730 · Mid Penn Bank
Oct 9, 2009
—
R & R Fitness Real Estate LLC
—
Grant Deed
related
$1,617,511 · Mid Penn Bank
—
—
R & R Fitness Real Estate LLC
—
Deed Of Trust
related
$2,240,000 · Members First FCU
—
—
R & R Fitness Real Estate LLC
—
Deed Of Trust
related
$3,148,000 · Linkbank
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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