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

    2451 3rd St Harrisburg, PA 17110-1902

    • Medical offices
    • 2,386 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    Mar 06, 2023
    $205,000
    Value Estimations
    $245,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-5817930
    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

    • David Hill, LSW / Doctor
    • Judah Fire Studios / Recording Studio
    • Mooreshine Professional Cleaning ,LLC / House Cleaning Service / Janitorial Service
    • Hornby Zeller Associates / Corporate Office
    • Hornby Zeller Associates Inc / Business Management Consultant

    Property Details for 2451 3rd St

    Year built
    1955
    Lot size
    0.18 lot acres
    Property size
    2,386 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    10-044-055
    APU
    10044055

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $230,000
      ML approach
      $195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $294,000
      Market price range: $176k - $460k
      AI Estimate
      $139,000
      Market price range: $73.8k - $227k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $350,000
      Current use
      RETAIL STORES
      $335,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8984
    Latitude
    40.2854
    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
    $8,133
    $38,000
    $127,700
    $165,700
    -
    $38,000
    $127,700
    $165,700

    Comparable in this City

    • Value Estimation
      $210,000
      0.01 Acres

      2119 2nd Stl5

      MEDICAL BUILDING • 0.01 Acres
      2119 2nd Stl5, Harrisburg, PA 17110-1005
      View Details
    • Value Estimation
      $1,755,000
      7,976 SF

      4390 Sturbridge Dr

      MEDICAL BUILDING • 7,976 SF
      4390 Sturbridge Dr, Harrisburg, PA 17110-3668
      View Details
    • Value Estimation
      $420,000
      5,084 SF

      400 Nationwide Dr

      MEDICAL BUILDING • 5,084 SF
      400 Nationwide Dr, Harrisburg, PA 17110-9752
      View Details
    • Value Estimation
      $210,000
      0.01 Acres

      2115 2nd St

      MEDICAL BUILDING • 0.01 Acres
      2115 2nd St, Harrisburg, PA 17110-1005
      View Details
    • Value Estimation
      $315,000
      4,734 SF

      2515 Frnt St

      MEDICAL BUILDING • 4,734 SF
      2515 Frnt St, Harrisburg, PA 17110-1150
      View Details
    • Value Estimation
      $280,000
      4,800 SF

      3705 Vartan Way

      MEDICAL BUILDING • 4,800 SF
      3705 Vartan Way, Harrisburg, PA 17110-9112
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      165,000 SF

      1000 Nationwide Dr: Harrisburg Office Building

      165,000 SF Office Building, Excellent Location
      1000 Nationwide Dr, Harrisburg, PA 17110
      View Details
    • $699,000
      4,800 SF

      Harrisburg Medical Office Building

      4,800 SF Medical Office, Owner/User
      3705 Vartan Way, Harrisburg, PA 17110
      View Details
    • $327,250
      43,200 SF

      Medical Office Condo For Sale

      2,975 SF condo with exam rooms and medical plumbing.
      2151 Linglestown Rd -, Harrisburg, PA 17110
      View Details
    • $1,565,000
      10,310 SF

      First Class Office Building For Sale

      10,310 SF office building with recent renovations and ample parking.
      2690 Commerce Dr, Harrisburg, PA 17110
      View Details
    • $874,900
      33,500 SF

      Flex Industrial Building For Sale

      Multi-purpose flex industrial building with retail, office, and showroom space.
      2975-2980 Jefferson St, Harrisburg, PA 17110
      View Details
    • $750,000
      1.11 Acres

      Harrisburg Commercial Development Site

      Prime 1.11-acre parcel, high visibility, versatile potential.
      4001 Front St, Harrisburg, PA 17110
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      57,456 SF

      Vartan Way Office Suites Available

      Modern glass office building; five suites available.
      3605 Vartan Way, Harrisburg, PA 17110
      View Details
    • $19 SF/Yr
      70,000 SF

      River Chase Office Center: Harrisburg, PA

      Class A Office Space, Harrisburg, PA
      4431 Front St, Harrisburg, PA 17110
      View Details
    • $16 SF/Yr
      14,334 SF

      Harrisburg Office Space Available

      Prime Harrisburg office, 2,583 sq ft available.
      2595 Interstate Dr, Harrisburg, PA 17110
      View Details
    • $10 SF/Yr
      17,000 SF

      Commerce Business Park Office Space

      Well-maintained office space in a desirable business park location.
      2850 Commerce Dr, Harrisburg, PA 17110
      View Details
    • $14 SF/Yr
      20,164 SF

      Corner Office Buildings For Lease

      Well-maintained office buildings with suites available for immediate occupancy.
      3540 N Progress Ave, Harrisburg, PA 17110
      View Details
    • $15 SF/Yr
      2,000 SF

      Medical/Office Space Near I-81

      2,000 SF medical/office space with excellent accessibility and visibility.
      400 Nationwide Dr, Harrisburg, PA 17110
      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.
    2451 3rd St
    Harrisburg, PA 17110-1902
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.