241 N Franklin St, Hanover, PA 17331
For Lease
1 / 34
This exceptional 4,674-square-foot freestanding retail building presents a rare opportunity in the revitalized downtown Hanover, Pennsylvania. Located at 241 N Franklin St, this property is part of a larger Pennrose redevelopment project, offering a unique blend of historical charm and modern amenities. Originally a boiler room for the Hanover Shoe facility, the building has been thoughtfully repurposed, retaining its industrial character while offering modern functionality. The building boasts exposed brick walls, impressive 18- to 30-foot high ceilings, and abundant natural light from windows on all sides. Durable concrete floors, efficient heating and air conditioning, and ample heavy power are already in place. Restrooms are also included. The 2.6-acre lot shares parking with adjacent multi-family buildings. Zoned for Local Business, this versatile space is ideal for a variety of uses, including retail, office, or restaurant (potential parking limitations should be considered for restaurant use). The building's unique character and prime downtown location make it an attractive investment. The lease rate is $10.00 per square foot, plus NNN utilities. This property offers a significant opportunity for a discerning tenant seeking a distinctive and well-located space.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.