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Property profile & analytics
OFF-MARKET
Estimated value
$12,680,000
Industrial properties
21 Industrial Dr Hanover, PA 17331-9530
Entity Owned
13-yr Hold
Free & Clear
Property ID
US73-3088926
Property profile
Verified
Property type
Industrial properties
Use group
HEAVY INDUSTRIAL
Year built
2013
Total area
149,760 SF
Lot
22.93 ac (998,831 SF)
Zoning code
I
APN
44-000-ED-0006.A0-00000
UPID
US73-3088926
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
-
Schindler Elevator Hanover Plant General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.45M
Comparable Approach
Comparable
$15.85M
Blend (final)
Blend
$12.68M
Owner & transaction history
Schindler Elevator Corp · 13 yrs held
Schindler Elevator Corp
since 2012
1 recorded transaction
Zoning & alternative use
I · Hanover, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$19.7M
+119.4%
Restaurant
$17.8M
+98.6%
Commercial (general)
$16.8M
+86.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$14,565,000
6.5%
$13,445,000
7%
$12,485,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$8,980,000
Current use
AUTO REPAIR, GARAGE
$19,695,000
Change: +119% · Conversion: Easy
RESTAURANT
$17,825,000
Change: +99% · Conversion: Difficult
COMMERCIAL (GENERAL)
$16,770,000
Change: +87% · Conversion: Difficult
MEDICAL BUILDING
$16,475,000
Change: +84% · Conversion: Difficult
OFFICE BUILDING
$12,570,000
Change: +40% · Conversion: Difficult
RETAIL STORES
$11,610,000
Change: +29% · Conversion: Moderate
WAREHOUSE, STORAGE
$11,515,000
Change: +28% · Conversion: Easy
Blend value · Realmo final
$12.68M
Range $11.41M – $13.95M · ±10%
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
$85 / 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
$220,249
Tax year 2024
Assessed value
$6,535,570
Assessed 2024
Previous assessed
$6,535,570
+0.0% YoY
Effective rate
3.37%
On assessed value
Assessed land
$523,410
Assessed improvement
$6,012,160
Land market value
$523,410
Improvement market value
$6,012,160
Total market value
$6,535,570
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
Industrial properties
Use group
HEAVY INDUSTRIAL
Status
Off-Market
Year built
2013
Heating
YES
Cooling
NONE
Total area
149,760 SF
Lot
22.93 ac (998,831 SF)
Zoning code
I
APN
44-000-ED-0006.A0-00000
UPID
US73-3088926
Jurisdiction
YORK
Zoning & alternative use
I · Hanover, PA
Zoning I · permitted uses
I · 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
INDUSTRIAL (GENERAL) Current
Est. value
$9.0M
AUTO REPAIR, GARAGE
Est. value
$19.7M
RESTAURANT
Est. value
$17.8M
COMMERCIAL (GENERAL)
Est. value
$16.8M
MEDICAL BUILDING
Est. value
$16.5M
OFFICE BUILDING
Est. value
$12.6M
RETAIL STORES
Est. value
$11.6M
WAREHOUSE, STORAGE
Est. value
$11.5M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
2013
Heating
YES
Cooling
Yes
Lot
22.93 ac
Current owner
From public records · entity-resolved
Schindler Elevator Corp
Entity
Free & Clear · 13 yrs held
Mailing address
PO BOX 1935, MORRISTOWN, NJ 07962-1935
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 31, 2012
$1,661,624
Schindler Elevator Corp
Conewago Contractors INC
Grant Deed
—
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.
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