Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    232 Ann St Middletown, PA 17057-1187

    • Apartment buildings
    • 24,016 SF
    • 1.01 lot acres
    OFF-MARKET
    Value Estimations
    $1,950,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1917315
    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

    • Apartment buildings

    Property Details for 232 Ann St

    Year built
    1962
    Lot size
    1.01 lot acres
    Property size
    24,016 SF
    Property type
    Apartment buildings
    APN
    40-002-001
    APU
    40002001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,701,000
      Market price range: $1.15M - $3.76M
      AI Estimate
      $1,507,000
      Market price range: $844k - $1.85M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,220,000
      Current use
      INDUSTRIAL (GENERAL)
      $2,515,000
      Change: +13% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,335,000
      Change: +5% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.736
    Latitude
    40.1934
    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
    $39,281
    $177,000
    $775,800
    $952,800
    -
    $177,000
    $775,800
    $952,800

    Comparable in this City

    • Value Estimation by Request
      1,412 SF

      Tarheel Ln

      APARTMENT HOUSE (5+ UNITS) • 1,412 SF
      Tarheel Ln, Middletown, PA 17057
      View Details
    • Value Estimation by Request
      6,318 SF

      154 Ann St

      APARTMENT HOUSE (5+ UNITS) • 6,318 SF
      154 Ann St, Middletown, PA 17057-1369
      View Details
    • Value Estimation
      $11,210,000
      97,830 SF

      451 Main St

      APARTMENT HOUSE (5+ UNITS) • 97,830 SF
      451 Main St, Middletown, PA 17057-1224
      View Details
    • Value Estimation by Request
      2,916 SF

      132 Main St

      APARTMENT HOUSE (5+ UNITS) • 2,916 SF
      132 Main St, Middletown, PA 17057-1830
      View Details
    • Value Estimation
      $2,555,000
      3,110 SF

      500 Market St Ext

      APARTMENT HOUSE (5+ UNITS) • 3,110 SF
      500 Market St Ext, Middletown, PA 17057
      View Details
    • Value Estimation by Request
      1,770 SF

      333 Spruce St

      APARTMENT HOUSE (5+ UNITS) • 1,770 SF
      333 Spruce St, Middletown, PA 17057-1867
      View Details

    Similar Nearby for Sale

    • $399,000
      3,186 SF

      Mixed-Use Investment Opportunity in Middletown

      High cash flow mixed-use property with commercial and residential units.
      219 S Union St, Middletown, PA 17057
      View Details
    • $350,000
      2,480 SF

      Middletown Retail Investment Opportunity

      High-growth area, 2,480 SF retail space
      405 Spruce St, Middletown, PA 17057
      View Details
    • New
      $70,000
      0.11 Acres

      Corner Lot in Middletown, PA

      Corner lot available in Middletown, PA. Buyer to verify acceptable use.
      Wilson St, Middletown, PA 17057
      View Details
    • $150,000
      0.69 Acres

      Middletown Commercial Land - 0.69 Acres

      Prime Commercial Lot, Middletown, PA
      0 Spring Garden Dr, Middletown, PA 17057
      View Details
    • $295,000
      1.20 Acres

      Middletown Commercial Land - 1.2 Acres

      Prime Commercial Land, Two Pad Sites Available
      0 Spring Garden Dr, Middletown, PA 17057
      View Details
    • Contact for pricing
      59,637 SF

      Executive Office Building, Middletown PA

      Class A Office Space, 59,637 SF
      1201 Fulling Mill Rd, Middletown, PA 17057
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,000 SF

      Middletown Industrial Warehouse For Lease

      15,000 SF Warehouse, Excellent Location
      170 Fulling Mill Rd, Middletown, PA 17057
      View Details
    • Contact for pricing
      69,000 SF

      Linden Centre Phase II Retail Space

      High-traffic retail center; three spaces available.
      1595 Harrisburg Pike, Middletown, PA 17057
      View Details
    • Contact for pricing
      2,600 SF

      Retail Space Near Giant Food

      Community center anchored by Giant Food, high visibility, great accessibility.
      428-444 E Main St, Middletown, PA 17057
      View Details
    • Contact for pricing
      67,500 SF

      Industrial Space with Storage Available

      Industrial space featuring storage, dock doors, and parking.
      1420 Stoneridge Dr, Middletown, PA 17057
      View Details
    • Contact for pricing
      166,225 SF

      Middletown Warehouse with Truck Court

      166,225 SF warehouse with 140' truck court.
      1400 Aip Dr, Middletown, PA 17057
      View Details
    • Contact for pricing
      54,800 SF

      Capital Valley Business Center

      Modern Industrial Space for Lease
      0 Kreider Dr, Middletown, PA 17057
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    232 Ann St
    Middletown, PA 17057-1187
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.