Technical
Financial
Distress signals
Property profile

241 Railroad St Hanover, PA 17331

OFF-MARKET
Commercial land
Property ID
US73-4256392
0.23 ac lot
Individually Owned 19-yr Hold ~ Est. High Equity
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This thriving Hanover, PA restaurant presents a unique turnkey opportunity. The Hanover Railside Diner, situated on a 0.55-acre lot at the intersection of N Railroad/Eichelberger Street and North Street (three blocks north of Hanover Square), boasts 4,733 square feet of space. Established for over 12 years, this well-maintained diner operates Monday through Friday and comfortably seats 150+ patrons, with an additional banquet room accommodating 50. Ample parking is available with 50+ on-site spaces. The property includes a second-floor one-bedroom apartment. The sale includes all necessary equipment and furnishings for a seamless transition. Annual real estate taxes are approximately $13,400. The asking price is $795,000, translating to $167.97 per square foot. The property enjoys a prime location, neighboring the Eichelberger Professional Building, Guthrie Memorial Library, and UPMC-Mountainview, ensuring high visibility and accessibility to the entire town. This is an exceptional opportunity to acquire a profitable, established business in a desirable location.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 0.23 ac (10,193 SF)
Zoning code M
APN 67-000-18-0230.B0-00000
UPID US73-4256392

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

241 Railroad St Hanover, PA 17331-2257
Hanover metro Census 22100 YORK-HANOVER, PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$245k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$245k

Owner & transaction history

since 2007
2 recorded transactions
2007
$750,000
2005
$215,000

Zoning & alternative use

M · Hanover, PA
Zoning description

1. [M] Manufacturing District - The purpose of this zoning district is to provide sufficient space to meet current and anticipated future needs for less-intensive industrial uses such as manufacturing and research/develo…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 241 Railroad St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
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