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Property profile & analytics
OFF-MARKET
Estimated value
$1,075,000
Office Spaces
261 Franklin St, Hanover, PA 17331-2458
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US73-3981327
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1910
Total area
8,925 SF
Lot
0.21 ac (8,930 SF)
APN
67-000-08-0160.00-C0003
UPID
US73-3981327
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
York-Adams MH-IDD Social Service Agency Charitable Organization
-
Residences at Hanover Shoe Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.08M
Owner & transaction history
Hanover Shoe Apartments LLC · 2 yrs held
Hanover Shoe Apartments LLC
since 2024
Last sale
$1.1M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+56.7%
Restaurant
$1.1M
+41.9%
Commercial (general)
$1.0M
+33.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hanover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hanover submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,075,000
ML approach
$1,075,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$750,000
Current use
AUTO REPAIR, GARAGE
$1,175,000
Change: +57% · Conversion: Difficult
RESTAURANT
$1,060,000
Change: +42% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,000,000
Change: +33% · Conversion: Easy
MEDICAL BUILDING
$980,000
Change: +31% · Conversion: Easy
RETAIL STORES
$690,000
Change: -8% · Conversion: Moderate
WAREHOUSE, STORAGE
$685,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±10% · vs last sale $1.08M (Mar 12 2024)
Last sale anchor
$1.08M
Mar 12 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$120 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$6,276
Tax year 2024
Assessed value
$172,760
Assessed 2024
Previous assessed
$172,760
+0.0% YoY
Effective rate
3.63%
On assessed value
Assessed land
$46,410
Assessed improvement
$126,350
Land market value
$46,410
Improvement market value
$126,350
Total market value
$172,760
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1910
Heating
FORCED AIR
Cooling
CENTRAL
Total area
8,925 SF
Lot
0.21 ac (8,930 SF)
APN
67-000-08-0160.00-C0003
UPID
US73-3981327
Jurisdiction
YORK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$750,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
RESTAURANT
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$980,000
RETAIL STORES
Est. value
$690,000
WAREHOUSE, STORAGE
Est. value
$685,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1910
Heating
FORCED AIR
Cooling
Yes
Lot
0.21 ac
Current owner
From public records · entity-resolved
Hanover Shoe Apartments LLC
Entity
Mailing address
32 CROSS ST STE #204, LAKEWOOD, NJ 08701-5572
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2024
$1,075,000
Hanover Shoe Apartments LLC
Hanover Office Limited Partnership
Special Warranty Deed
$4,250,000 · Lument Real Estate Capital LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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