2501 3rd St Harrisburg, PA 17110-1904

Property Details for 2501 3rd St

Property type

Hospitals

APN

10-043-013-001-0002

APU

100430130010002

Description

This exceptional investment opportunity presents a fully occupied, 314,790 square foot, seven-story medical office building located at 2501 N 3rd St, Harrisburg, PA 17110. The property, built in 1964, sits on a 5.96-acre lot and boasts a 7.11% cap rate with a net operating income (NOI) of $3,840,151. The asking price is $54,000,000, translating to $171.54 per square foot. This single-tenant property is under a triple-net (NNN) master lease with a credit-rated corporate guarantor, ensuring consistent income. The tenant, UPMC, and its predecessors have occupied the site since 1909, demonstrating a long-standing commitment to this mission-critical location. The building houses various healthcare services, including the Pennsylvania Psychiatric Institute and the National Alliance on Mental Illness, along with physical therapy, an orthopedic clinic, and clinical education and development. Its central location in Uptown Harrisburg offers easy access to major highways (I-83, I-76, I-81, US-322, US-22, US-11, US-15) and proximity to UPMC Harrisburg Hospital Campus and Penn State Health Holy Spirit Hospital Campus. Ample on-site parking is available, including approximately 200 surface spaces and an adjacent parking garage. The property is subject to a 50-year ground lease. This is a rare opportunity to acquire a high-performing, strategically located medical office building with a strong tenant and significant historical presence in the Harrisburg community.