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

    27 3Rd St Harrisburg, PA 17101

    • Investment properties
    • 4,428 SF
    • 0.04 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2595556
    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

    • Monroe Brothers Bed Bugs Removal / Garden Center

    Property Details for 27 3Rd St

    Year built
    1900
    Lot size
    0.04 lot acres
    Property size
    4,428 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    03-001-026
    APU
    3001026

    Description

    This 1,428 square foot retail space at 27 South 3rd Street in Harrisburg, Pennsylvania offers a fantastic opportunity in a thriving central business district location. Built in 1900, this single-tenant property is situated just one block from Strawberry Square and directly across from the new Harrisburg University Health Science Education Center. Its prime location provides exceptional visibility and accessibility, benefiting from high foot traffic and proximity to major attractions and amenities. The property is within easy reach of UPMC Hospital, Hilton Harrisburg, Crowne Plaza, Whitaker Center, county and federal courthouses, and the Amtrak train station. The Capitol Complex is only three blocks away, contributing to a substantial workforce of approximately 30,000 people within a five-block radius (2019 data). The total building size is 4,428 square feet, with this unit occupying the first floor. This street-level retail space presents a unique chance to establish or expand a business in a vibrant and well-connected area of Harrisburg. The property is located in Dauphin County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8795
    Latitude
    40.2605
    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
    $11,215
    $110,000
    $84,040
    $194,040
    -
    $110,000
    $84,040
    $194,040

    Comparable in this City

    • Value Estimation by Request
      4,521 SF

      133 State St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,521 SF
      133 State St, Harrisburg, PA 17101-1027
      View Details
    • Value Estimation by Request
      2,668 SF

      403 Walnut St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,668 SF
      403 Walnut St, Harrisburg, PA 17101-1904
      View Details
    • Value Estimation by Request
      4,052 SF

      211 Walnut St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,052 SF
      211 Walnut St, Harrisburg, PA 17101-1709
      View Details
    • Value Estimation
      $925,000
      3,952 SF

      219 2nd St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,952 SF
      219 2nd St, Harrisburg, PA 17101-1470
      View Details
    • Value Estimation by Request
      3,797 SF

      117 Cameron St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,797 SF
      117 Cameron St, Harrisburg, PA 17101-2410
      View Details
    • Value Estimation by Request
      3,975 SF

      202 Locust St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,975 SF
      202 Locust St, Harrisburg, PA 17101-1508
      View Details

    Similar Nearby for Sale

    • $1,795,000
      20,000 SF

      Downtown Harrisburg Mixed-Use Property

      Mixed-use property with restaurants and office space in Harrisburg.
      201 N 2Nd St, Harrisburg, PA 17101
      View Details
    • Contact for pricing
      5,250 SF

      High-Visibility Mixed-Use Building

      Mixed-use property with commercial space and apartments in high-traffic area.
      618 N 2Nd St, Harrisburg, PA 17101
      View Details
    • $305,900
      0.01 Acres

      Mixed-Use Property in Downtown Harrisburg

      Turn-key delicatessen with apartment in Harrisburg's vibrant downtown.
      512 North 3Rd St, Harrisburg, PA 17101
      View Details
    • Contact for pricing
      0.06 Acres

      Downtown Harrisburg Parking Lot

      Ten Spaces, Capitol Block, Lease Available
      248 North St, Harrisburg, PA 17101
      View Details
    • $1,200,000
      9,864 SF

      Downtown Harrisburg Restaurant - For Sale

      Prime Restaurant Space, 9,864 SF, Harrisburg, PA
      310 2Nd St, Harrisburg, PA 17101
      View Details
    • $270,000
      3,368 SF

      Prime Harrisburg Office Building

      Turnkey Office, Capitol Views, High Potential
      222 Pine St, Harrisburg, PA 17101
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      288,000 SF

      Class A Mixed-Use Space

      Premier office, commercial, and residential space in downtown Harrisburg.
      301 Chestnut St, Harrisburg, PA 17101
      View Details
    • Contact for pricing
      8,514 SF

      Prime Harrisburg Retail Space

      Chestnut Street retail, high traffic area.
      312 Chestnut St, Harrisburg, PA 17101
      View Details
    • Contact for pricing
      5,488 SF

      Steelton Office Space Available

      Prime Harrisburg office, multiple suites.
      30 3Rd St, Steelton, PA 17101
      View Details
    • $20 SF/Yr
      213,150 SF

      Prime Harrisburg Office Space

      Class A office suites, ideal downtown location.
      30 3Rd St, Steelton, PA 17101
      View Details
    • $19 SF/Yr
      996 SF

      Historic Office Building For Rent

      First-class office space with Capitol views in Harrisburg, PA.
      500 N 3Rd St, Harrisburg, PA 17101
      View Details
    • $16 SF/Yr
      20,000 SF

      Downtown Harrisburg Office Space

      Unique Creative Office Suites Available
      201 2Nd St, Harrisburg, PA 17101
      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.
    27 3Rd St
    Harrisburg, PA 17101
    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.