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

    2 Hanover St Carlisle, PA 17013-3063

    • Retail space
    • 5,754 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0860973
    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

    • Coover & Associates / Law Firm / Family Law Attorney
    • Nancy Stamm's Galleria / Art Restoration Service / Picture Frame Shop
    • Dawg Gone Bees / Pet Care Service

    Property Details for 2 Hanover St

    Lot size
    0.07 lot acres
    Property size
    5,754 SF
    Property type
    Retail space
    APN
    05-21-0320-105
    APU
    5210320105

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $332,000
      Market price range: $300k - $802k
      AI Estimate
      $246,000
      Market price range: $188k - $574k

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

    Location Insight

    • Map
    • Local Demand
    City
    Carlisle
    County
    Cumberland
    State
    Pennsylvania
    Longitude
    -77.1894
    Latitude
    40.2022
    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
    2024
    $5,176
    $38,300
    $188,000
    $226,300
    -
    $38,300
    $188,000
    $226,300

    Comparable in this City

    • Value Estimation
      $240,000
      0.20 Acres

      1124 Newville Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.20 Acres
      1124 Newville Rd, Carlisle, PA 17013
      View Details
    • Value Estimation
      $385,000
      0.17 Acres

      148 Hanover St

      RETAIL STORES (PERSONAL SERVICES) • 0.17 Acres
      148 Hanover St, Carlisle, PA 17013-2414
      View Details
    • Value Estimation
      $815,000
      1.03 Acres

      1550 Ritner Hwy

      RETAIL STORES (PERSONAL SERVICES) • 1.03 Acres
      1550 Ritner Hwy, Carlisle, PA 17013-9380
      View Details
    • Value Estimation
      $170,000
      2,769 SF

      156 High St

      RETAIL STORES (PERSONAL SERVICES) • 2,769 SF
      156 High St, Carlisle, PA 17013-2924
      View Details
    • Value Estimation
      $525,000
      10.33 Acres

      850 High St

      RETAIL STORES (PERSONAL SERVICES) • 10.33 Acres
      850 High St, Carlisle, PA 17013-2641
      View Details
    • Value Estimation
      $1,360,000
      18,584 SF

      17 High St

      RETAIL STORES (PERSONAL SERVICES) • 18,584 SF
      17 High St, Carlisle, PA 17013-3047
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      30,927 SF

      Carlisle Plaza Retail Center

      Prime Carlisle location, high-traffic retail opportunity
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      Commercial Lot on High-Traffic Corner

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      Turnkey Distillery, Bar & Restaurant

      Fully renovated distillery, bar, and restaurant in downtown Carlisle.
      137 N Hanover St, Carlisle, PA 17013
      View Details
    • $850,000
      5,070 SF

      Historic Carlisle Mixed-Use Building

      Prime downtown location, 5,070 sq ft, vacant.
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    • $1,575,000
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      Operating Car Wash with Apartments

      Car wash with self-serve bays and apartment building.
      400 S Hanover St, Carlisle, PA 17013
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    • $590,999
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      Prime Carlisle Commercial Land

      1.63 Acres, High-Traffic Location
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    Similar Nearby for Lease

    • $18 SF/Yr
      1,198 SF

      Retail Space in Carlisle Crossing

      Retail space available in a Target and Kohl’s anchored center.
      202 Westminster Dr, Carlisle, PA 17013
      View Details
    • Contact for pricing

      Prime Retail/Commercial Leasing Opportunity

      Exceptional space for retail or commercial tenants in Carlisle, PA.
      34 South Hanover St, Carlisle, PA 17013
      View Details
    • Contact for pricing
      6,492 SF

      Retail Space in Carlisle Plaza

      Retail space available in a neighborhood shopping center.
      1706 Spring Rd, Carlisle, PA 17013
      View Details
    • Contact for pricing
      1,500 SF

      Carlisle Retail Space Available

      Retail space along Route 11, easy access to highways.
      1075 Harrisburg Pike, Carlisle, PA 17013
      View Details
    • $18 SF/Yr
      2,335 SF

      Retail Space in Carlisle Crossing

      Retail space available in a Target and Kohl’s anchored center.
      299 Westminster Dr, Carlisle, PA 17013
      View Details
    • $2,600 /Mo

      Downtown Carlisle Retail/Office Space

      First floor retail or office space in downtown Carlisle, PA.
      17 N Hanover St Unit, Carlisle, PA 17013
      View Details
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    2 Hanover St
    Carlisle, PA 17013-3063
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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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