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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2517 Paxton St Harrisburg, PA 17111-1034

    • Turn key restaurants
    • 8,169 SF
    • 0.66 lot acres
    OFF-MARKET
    Last Sale
    Sep 23, 2024
    $1,000,000
    Value Estimations
    $1,000,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0351147
    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

    • Kajimachi Karaoke Lounge / Musical Club
    • Kajimachi Japanese Steakhouse / Restaurant / Japanese Restaurant
    • Oliver's Bathroom Remodeling LLC / Bathroom Remodeler / General Contractor

    Property Details for 2517 Paxton St

    Year built
    1964
    Lot size
    0.66 lot acres
    Property size
    8,169 SF
    Property type
    Turn key restaurants
    APN
    63-025-014
    APU
    63025014

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,000,000
      ML approach
      $1,000,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $653,000
      Market price range: $654k - $1.72M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,125,000
      Current use
      AUTO REPAIR, GARAGE
      $1,530,000
      Change: +36% Conversion: Difficult
      MEDICAL BUILDING
      $1,200,000
      Change: +6% Conversion: Difficult
      RETAIL STORES
      $1,155,000
      Change: +2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8439
    Latitude
    40.2551
    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
    $12,599
    $149,200
    $295,400
    $444,600
    -
    $149,200
    $295,400
    $444,600

    Comparable in this City

    • Value Estimation
      $525,000
      2,500 SF

      7200 Derry St

      RESTAURANT • 2,500 SF
      7200 Derry St, Harrisburg, PA 17111-5226
      View Details
    • Value Estimation by Request
      2,020 SF

      4401 Derry St

      RESTAURANT • 2,020 SF
      4401 Derry St, Harrisburg, PA 17111-2656
      View Details
    • Value Estimation by Request
      4,147 SF

      6200 Derry St

      RESTAURANT • 4,147 SF
      6200 Derry St, Harrisburg, PA 17111-4355
      View Details
    • Value Estimation
      $985,000
      12,379 SF

      8001 Un Sta Blvd

      RESTAURANT • 12,379 SF
      8001 Un Sta Blvd, Harrisburg, PA 17111-3024
      View Details
    • Value Estimation by Request
      3,465 SF

      3273 Paxton St

      RESTAURANT • 3,465 SF
      3273 Paxton St, Harrisburg, PA 17111-1340
      View Details
    • Value Estimation
      $790,000
      5,862 SF

      3991 Paxton St

      RESTAURANT • 5,862 SF
      3991 Paxton St, Harrisburg, PA 17111-1424
      View Details

    Similar Nearby for Sale

    • $950,000
      3,177 SF

      Restaurant with High-Traffic Location

      3,177 SF restaurant with bar, apartment, and liquor license.
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    • New
      $395,000
      20,000 SF

      Mixed-Use Property with Retail and Apartments

      Established flower shop with four apartments in Harrisburg, Pennsylvania.
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      Harrisburg Medical Office Complex

      Multi-tenant medical office building, high cap rate.
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    • $995,000
      6.23 Acres

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      17,680 SF Warehouse, 3.5 Acres
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      Harrisburg Industrial Property

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      11.40 Acres

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      Prime Harrisburg location, high visibility, great investment.
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    Similar Nearby for Lease

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      324,332 SF

      4640 High Pointe Blvd

      Restaurants • 324,332 SF
      4640 High Pointe Blvd, Harrisburg, PA 17111
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    • Contact for pricing
      1,508 SF

      Retail Space in Harrisburg Center

      Retail space available in a recently renovated shopping center.
      4203-4247 Union Deposit Rd, Harrisburg, PA 17111
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    • $10 SF/Yr
      4,900 SF

      Automotive Repair Space Available

      4,900 SF corner retail space for automotive repair.
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      View Details
    • Contact for pricing
      157,414 SF

      East Park Center: Harrisburg Retail

      High-traffic retail center; 3 spaces available.
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    • Contact for pricing
      1,824 SF

      Commercial Property with Two-Bay Garage

      Commercial property featuring an office building and a two-bay garage.
      7981 Paxton St, Harrisburg, PA 17111
      View Details
    • Contact for pricing
      549,710 SF

      Swatara Exchange: Harrisburg Flex Space

      Harrisburg flex space, 549,710 sqft, 14 suites.
      0 Paxton St and Interstate 83, Harrisburg, PA 17111
      View Details
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    Harrisburg, PA 17111-1034
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    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
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