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

    2921 Walnut St Harrisburg, PA 17103

    • Retail space
    • 6,600 SF
    • 0.30 lot acres
    For Sale
    View listing
    $590,000
    Last Sale
    Oct 06, 2023
    $500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1690085
    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

    • Bullensthal Motors / Used Truck Dealer / Used Car Dealer
    • Decoration For Any Events / Event Planner

    Property Details for 2921 Walnut St

    Year built
    1950
    Construction
    FRAME
    Lot size
    0.30 lot acres
    Property size
    6,600 SF
    Property type
    Retail space
    APN
    50-006-039
    APU
    50006039

    Description

    This exceptional 6,600 square foot retail property is ideally situated on heavily trafficked Walnut Street in Penbrook, Pennsylvania. The building boasts a spacious showroom, perfect for showcasing products or services, complemented by a dedicated office, breakroom, and ample storage space. A convenient loading bay ensures efficient handling of goods. The property sits on a 0.3-acre lot, providing excellent visibility and accessibility for customers. Currently zoned CO-2/Store-Retail, the zoning classification allows for a variety of retail uses. Prospective buyers should independently verify zoning regulations and permitted uses with the Penbrook Borough to determine suitability for their intended business operations. Please note that the seller is unable to approve any future use beyond the current zoning designation. This presents a unique opportunity for entrepreneurs seeking a well-located, established retail space to establish or expand their business. The asking price for this turnkey operation is $590,000. The property's prime location and versatile layout make it an attractive investment for those seeking a strong foothold in the Harrisburg market. Don't miss this chance to secure a prominent retail presence on a busy thoroughfare.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $560,000
      ML approach
      $525,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $643,000
      Market price range: $284k - $863k

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8454
    Latitude
    40.2815
    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
    $9,756
    $76,500
    $191,600
    $268,100
    -
    $76,500
    $191,600
    $268,100

    Comparable in this City

    • Value Estimation by Request
      288 SF

      1403 Market St

      RETAIL STORES (PERSONAL SERVICES) • 288 SF
      1403 Market St, Harrisburg, PA 17103-2331
      View Details
    • Value Estimation by Request
      2,496 SF

      2802 Walnut St

      RETAIL STORES (PERSONAL SERVICES) • 2,496 SF
      2802 Walnut St, Harrisburg, PA 17103
      View Details
    • Value Estimation
      $725,000
      4,625 SF

      2327 Walnut St

      RETAIL STORES (PERSONAL SERVICES) • 4,625 SF
      2327 Walnut St, Harrisburg, PA 17103-1748
      View Details
    • Value Estimation
      $580,000
      7,725 SF

      1817 Cameron St

      RETAIL STORES (PERSONAL SERVICES) • 7,725 SF
      1817 Cameron St, Harrisburg, PA 17103-1021
      View Details
    • Value Estimation by Request
      2,304 SF

      1254 Market St

      RETAIL STORES (PERSONAL SERVICES) • 2,304 SF
      1254 Market St, Harrisburg, PA 17103-2226
      View Details
    • Value Estimation by Request
      2,720 SF

      53 17th St

      RETAIL STORES (PERSONAL SERVICES) • 2,720 SF
      53 17th St, Harrisburg, PA 17103-2318
      View Details

    Similar Nearby for Sale

    • $699,000
      9,568 SF

      Harrisburg Auto Shop - $699K

      Prime Auto Shop, Harrisburg, PA. Vacant, ready for your business.
      18 27Th St, Harrisburg, PA 17103
      View Details
    • $415,000
      5,364 SF

      Prime Harrisburg Retail Space

      Historic Building, Versatile Use, High-Return Potential
      2001 Market Street Rd, Harrisburg, PA 17103
      View Details
    • $590,000
      6,600 SF

      Prime Harrisburg Retail Space

      Walnut Street Retail Building - High Traffic
      2921 Walnut St, Harrisburg, PA 17103
      View Details
    • $374,900
      2,692 SF

      Harrisburg Multifamily Property with Garages

      Two-unit property in Harrisburg with six garages and income potential.
      235 S 29Th St, Harrisburg, PA 17103
      View Details
    • Contact for pricing
      0.03 Acres

      Land For Sale Harrisburg, PA

      Land available for purchase in Harrisburg, Pennsylvania.
      1741 Market Street Rd, Harrisburg, PA 17103
      View Details
    • Contact for pricing
      0.03 Acres

      Harrisburg Land Near I-83

      Residential land near I-83, stores, shops, and restaurants.
      1329 Liberty St, Harrisburg, PA 17103
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,200 SF

      Retail Space Near High School

      Retail space anchored by Giant, near Harrisburg High School.
      101 S 25Th St, Harrisburg, PA 17103
      View Details
    • Contact for pricing
      33,890 SF

      Harrisburg Industrial Laydown Yard

      4.68-acre industrial property, 3 buildings
      1001 Herr St, Harrisburg, PA 17103
      View Details
    • Contact for pricing
      33,890 SF

      Herr Street Industrial Yard Investment

      21.68-acre outdoor storage, 3 buildings.
      1001 Herr St, Harrisburg, PA 17103
      View Details
    • Contact for pricing
      266,375 SF

      Harrisburg Warehouse Space Available

      Up to 50,000 SF warehouse space for sublease.
      1400 N Cameron St, Harrisburg, PA 17103
      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.
    2921 Walnut St
    Harrisburg, PA 17103
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.