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    Property profile & analytics

    26 Industrial Dr Hanover, PA 17331-9531

    • Refrigerated & Cold Storages
    • 64,940 SF
    • 15.28 lot acres
    OFF-MARKET
    Last Sale
    Sep 09, 2020
    $8,000,000
    Value Estimations
    $8,525,000
    Show details
    Cap Rate Potential
    5.3%
    Refrigerated & Cold Storages
    Location Intelligence
    Property ID
    US73-2180422
    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

    • Pero Family Farms / Agricultural Production
    • Apio / Food Processing Company / Logistics Service
    • Curation Foods / Manufacturer
    • Greenline Logistics / Corporate Office

    Property Details for 26 Industrial Dr

    Year built
    2004
    Lot size
    15.28 lot acres
    Property size
    64,940 SF
    Zone code
    I
    Property type
    Refrigerated & Cold Storages
    APN
    44-000-DD-0048.U0-00000
    APU
    44000DD0048U000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,655,000
      ML approach
      $7,930,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,670,000
      6.5%
      $7,080,000
      7%
      $6,575,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,764,000
      Market price range: $3.60M - $8.76M
      AI Estimate
      $6,645,000
      Market price range: $2.05M - $6.65M

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    York
    State
    Pennsylvania
    Longitude
    -76.9563
    Latitude
    39.8233
    CBSA code
    49620
    CBSA name
    YORK-HANOVER, 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
    2024
    $123,170
    $651,475
    $3,003,430
    $3,654,905
    -
    $651,475
    $3,003,430
    $3,654,905

    Comparable in this City

    • Value Estimation
      $495,000
      986 SF

      236 Poplar St

      COLD STORAGE • 986 SF
      236 Poplar St, Hanover, PA 17331-2925
      View Details
    • Value Estimation by Request
      203,840 SF

      Ridge Ave

      Manufacturing properties • 203,840 SF
      0 Ridge Ave, Hanover, PA 17331
      View Details
    • Value Estimation by Request
      19,000 SF

      6 Pine St

      Manufacturing properties • 19,000 SF
      6 Pine St, Hanover, PA 17331
      View Details
    • Value Estimation
      $1,025,000
      88,422 SF

      800 Gitts Run Rd

      WAREHOUSE, STORAGE • 88,422 SF
      800 Gitts Run Rd, Hanover, PA 17331-8123
      View Details
    • Value Estimation
      $1,395,000
      34,300 SF

      Elm Ave

      WAREHOUSE, STORAGE • 34,300 SF
      Elm Ave, Hanover, PA 17331
      View Details
    • Value Estimation
      $275,000
      7,638 SF

      Exchange Pl

      WAREHOUSE, STORAGE • 7,638 SF
      Exchange Pl, Hanover, PA 17331
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      203,840 SF

      Hanover, PA Industrial Warehouse

      Massive Warehouse, Rail-Capable, Build-to-Suit
      0 Ridge Ave, Hanover, PA 17331
      View Details
    • Contact for pricing
      87,000 SF

      Hanover Warehouse Space Available

      87,000 sq ft warehouse in Hanover, Pennsylvania.
      350 Kindig Ln, Hanover, PA 17331
      View Details
    • Contact for pricing
      10.00 Acres

      307 Oxford Ave

      Land • 10.00 Acres
      307 Oxford Ave, Hanover, PA 17331
      View Details
    • $500,000
      12,700 SF

      18 Centennial Ave, Hanover, PA 17331

      Industrial properties • 12,700 SF
      18 Centennial Ave, Hanover, PA 17331
      View Details
    • Contact for pricing
      13,033 SF

      Hanover Auto Shop - 13,033 SF

      Prime Hanover, PA auto shop; 1.5 acres, high traffic.
      1155 Carlisle St, Hanover, PA 17331
      View Details
    • $349,900
      3,578 SF

      concrete floors

      electric and a 15' workbench. Both garages are accessed by blacktop driveways. Appliances included are: Refrigerator
      1494 Carlisle Pike, Hanover, PA 17331
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      83,733 SF

      Prime Hanover Industrial Space

      83,733 SF Warehouse/Manufacturing Sublease
      262 Church St, Hanover, PA 17331
      View Details
    • $6 SF/Yr
      53,432 SF

      Hanover, PA Warehouse For Lease

      Large Industrial Space, Excellent Location
      475 Fame Ave, Hanover, PA 17331
      View Details
    • Contact for pricing
      407,680 SF

      Hanover, PA Industrial Facility

      ±407,680 SF Manufacturing/Warehouse
      0 Ridge Ave, Hanover, PA 17331
      View Details
    • Contact for pricing
      165,941 SF

      Hanover Warehouse Space Available

      357,372 SF warehouse in Hanover, Pennsylvania for lease.
      240 Kindig Ln, Hanover, PA 17331
      View Details
    • Contact for pricing
      139,500 SF

      Hanover Warehouse with 32' Clearance

      139,500 SF warehouse with 16 loading docks and drive-in doors.
      100 S Blettner Ave, Hanover, PA 17331
      View Details
    • $14 SF/Yr
      19,000 SF

      Hanover, PA Industrial Flex Space

      19,000 SF Flex Space; 5,500 SF Available
      6 Pine St, Hanover, PA 17331
      View Details
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    26 Industrial Dr
    Hanover, PA 17331-9531
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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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