Technical
Financial
Distress signals
Property profile

405 Spruce St Middletown, PA 17057

FOR SALE
Automotive properties
Property ID
US73-0129349
2,768 SF 0.22 ac lot Built 1952
Individually Owned 6-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 2,480-square-foot retail property, located at 405 Spruce Street in Middletown, Pennsylvania, presents a unique investment opportunity. The building, constructed in 1952 and extensively renovated in 2022, sits on a 0.23-acre corner lot at the intersection of Spruce and East Main Streets, offering excellent visibility and accessibility. Currently configured as a convenience store, storefront, and auto shop, the property boasts Commercial Highway zoning, allowing for a wide range of uses including auto dealerships, body shops, service stations, and more. The asking price is $350,000, translating to $141.13 per square foot. The property features 25 parking spaces and includes valuable equipment such as an economic waste oil heating system, two commercial air compressors, and three hydraulic lifts, all conveying with the sale. The single-story building is classified as Class B and operates under a NNN lease type. Its prime location near Penn State Harrisburg, a rapidly expanding campus, and Harrisburg International Airport (HIA), a continuously developing transportation hub, ensures strong potential for growth and return on investment. Middletown's steady economic growth since 1980 further enhances the property's appeal. The property's location within the Harrisburg Market Keystone Innovation Zone may also qualify certain business ventures for tax incentives. The property's occupancy date was April 30, 2022. The APN is 42-025-038. This is an owner/user investment opportunity.

Property profile

Verified
Property type Automotive properties
Use group VEHICLE SALES, RENTALS
Year built 1952
Total area 2,768 SF
Lot 0.22 ac (9,583 SF)
APN 42-025-038
UPID US73-0129349

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store Auto Parts Store
  • (Bike/Boat/Book/etc) Store Auto Parts Store

Location

405 Spruce St Middletown, PA 17057
Middletown metro Census 23900 HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$260k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$260k

Owner & transaction history

since 2019
5 recorded transactions
2019
$200,000
2017
Price N/A
2007
$225,000
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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