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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1919 N 3Rd St Harrisburg, PA 17102

    • Warehouses
    • 6,804 SF
    • 0.79 lot acres
    For Sale
    View listing
    $895,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2248029
    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

    • Warehouses

    Property Details for 1919 N 3Rd St

    Year built
    1920
    Lot size
    0.79 lot acres
    Property size
    6,804 SF
    Property type
    Warehouses
    APN
    11-009-069
    APU
    11009069

    Description

    This exceptional redevelopment opportunity presents a substantial 28,150 square foot storefront located at 1919-1929 N 3rd St, Harrisburg, PA 17102. Priced at $1,200,000 ($42.63/sq ft), this property offers significant potential for investors and developers. The site encompasses two lots totaling 0.79 acres of buildable land, currently featuring a 28,000 square foot industrial building. Situated in the rapidly evolving Midtown/Olde Uptown Harrisburg area, this location benefits from its position on a corridor experiencing significant development activity. The Commercial Neighborhood zoning allows for a diverse range of uses, including multifamily residential, grocery stores, retail establishments, restaurants, staffing and recruitment agencies, and select medical facilities. This versatile property presents a unique chance to capitalize on the growth and revitalization of this vibrant Harrisburg neighborhood. The existing building provides a solid foundation for redevelopment, offering substantial square footage adaptable to various commercial ventures. The ample buildable land allows for expansion or the creation of entirely new structures, maximizing the investment potential. This is an exceptional opportunity to acquire a large-scale property in a high-growth area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $323,000
      Market price range: $197k - $615k
      AI Estimate
      $204,000
      Market price range: $132k - $392k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $370,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8937
    Latitude
    40.277
    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
    $10,035
    $112,700
    $52,400
    $165,100
    -
    $112,700
    $52,400
    $165,100

    Comparable in this City

    • Value Estimation
      $345,000
      8,900 SF

      2009 3rd St

      WAREHOUSE, STORAGE • 8,900 SF
      2009 3rd St, Harrisburg, PA 17102-1815
      View Details
    • Value Estimation
      $265,000
      8,640 SF

      1321 4th St

      WAREHOUSE, STORAGE • 8,640 SF
      1321 4th St, Harrisburg, PA 17102-1702
      View Details
    • Value Estimation
      $345,000
      6,048 SF

      1621 7th St

      WAREHOUSE, STORAGE • 6,048 SF
      1621 7th St, Harrisburg, PA 17102-1114
      View Details
    • Value Estimation
      $75,000
      2,304 SF

      1413 Penn St

      WAREHOUSE, STORAGE • 2,304 SF
      1413 Penn St, Harrisburg, PA 17102
      View Details
    • Value Estimation
      $390,000
      16,848 SF

      1805 7th St

      WAREHOUSE, STORAGE • 16,848 SF
      1805 7th St, Harrisburg, PA 17102-1008
      View Details
    • Value Estimation
      $225,000
      4,056 SF

      1807 7th St

      WAREHOUSE, STORAGE • 4,056 SF
      1807 7th St, Harrisburg, PA 17102
      View Details

    Similar Nearby for Sale

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      Harrisburg Warehouse with Frozen Storage

      14,796 SF warehouse featuring substantial frozen storage space.
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      Redevelopment Opportunity in Olde Uptown

      28,150 SF building in Harrisburg's up-and-coming Olde Uptown.
      1919 N 3Rd St, Harrisburg, PA 17102
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      Harrisburg Restaurant & Bar Sale

      Upscale Harrisburg bar & restaurant, prime location.
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    Similar Nearby for Lease

    • $14 SF/Yr
      1,840 SF

      Harrisburg Office Space For Lease

      Office space for lease with on-site parking and river views.
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      View Details
    • $19 SF/Yr
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      Midtown Harrisburg Office Space Available

      LEED Gold certified office space for rent in Midtown Harrisburg.
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      View Details
    • $12 SF/Yr
      1,500 SF

      Downtown Office Space Available

      1,500 SF office space with great visibility and natural light.
      714 North 3Rd St, Harrisburg, PA 17102
      View Details
    • $14 SF/Yr
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      Governor's Plaza South Office Space

      Harrisburg CBD Office Suites Available
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    • $14 SF/Yr
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      Harrisburg Office Building with Parking

      Office building or space for lease with on-site parking.
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      View Details
    • $19 SF/Yr
      70,000 SF

      Campus Square: Harrisburg Office Space

      Prestigious Harrisburg office suites, various sizes.
      1426 3Rd St, Harrisburg, PA 17102
      View Details
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    Harrisburg, PA 17102
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    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
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