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Property summary
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.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2024Property description
Physical attributes from public recordsZoning & alternative use
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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