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Property profile & analytics
OFF-MARKET
Estimated value
$5,280,000
Office Spaces
409 2nd St Harrisburg, PA 17101-1357
Entity Owned
15-yr Hold
Free & Clear
Property ID
US73-5718776
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2012
Total area
54,239 SF
Lot
0.3 ac (13,068 SF)
APN
04-018-017
UPID
US73-5718776
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
-
Buchanan Ingersoll & Rooney PC Law Firm
-
PrimeSource Health Network Inc Hospital
-
UPMC Pinnacle Medical Clinic
-
Southgate Building Medical Clinic
-
Milosz Andrew Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.69M
Blend (final)
Blend
$5.28M
Owner & transaction history
Second & State Street Ptrs LLC · 15 yrs held
Second & State Street Ptrs LLC
since 2011
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.0M
+106.2%
Retail stores
$7.7M
+98.2%
Restaurant
$7.5M
+93.6%
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 Harrisburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Harrisburg 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,860,000
Current use
MEDICAL BUILDING
$7,960,000
Change: +106% · Conversion: Easy
RETAIL STORES
$7,655,000
Change: +98% · Conversion: Easy
RESTAURANT
$7,475,000
Change: +94% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,490,000
Change: +42% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$4,640,000
Change: +20% · Conversion: Moderate
Blend value · Realmo final
$5.28M
Range $4.75M – $5.81M · ±10%
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
$97 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$240,394
Tax year 2023
Assessed value
$5,233,800
Assessed 2024
Previous assessed
$5,233,800
+0.0% YoY
Effective rate
4.59%
On assessed value
Assessed land
$560,700
Assessed improvement
$4,673,100
Land market value
$560,700
Improvement market value
$4,673,100
Total market value
$5,233,800
Applied tax rate
10.0000
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
OFFICE (GENERAL)
Status
Off-Market
Year built
2012
Heating
YES
Cooling
YES
Total area
54,239 SF
Lot
0.3 ac (13,068 SF)
APN
04-018-017
UPID
US73-5718776
Jurisdiction
DAUPHIN
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
COMMERCIAL (GENERAL) Current
Est. value
$3.9M
MEDICAL BUILDING
Est. value
$8.0M
RETAIL STORES
Est. value
$7.7M
RESTAURANT
Est. value
$7.5M
INDUSTRIAL (GENERAL)
Est. value
$5.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.6M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RETAIL STORES
RESTAURANT
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
2012
Heating
YES
Cooling
Yes
Lot
0.3 ac
Current owner
From public records · entity-resolved
Second & State Street Ptrs LLC
Entity
Free & Clear · 15 yrs held
Mailing address
1900 N 2ND ST FRNT, HARRISBURG, PA 17102-2163
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2019
—
Second & St Street Ptrs LLC
—
Loan Modification
related
$11,120,000 · First Nat'l Bk/pa
Oct 29, 2012
—
Second & State Street Ptrs LLC
—
Deed Of Trust
related
$2,000,000 · South Third Dev Corp
Apr 5, 2011
—
Second & State Street Ptrs LLC
—
Deed Of Trust
related
$10,150,000 · First National Bank Pa
Mar 30, 2011
—
Second & State Street Ptrs LLC
Second & State Street Ptrs LLC
Quit Claim Deed
related
—
Nov 6, 2007
$1,587,234
44 Harrisburg Hotel LLC
Wci Hotel Partners
Grant Deed
$3,455,000 · Graystone Bank
Aug 7, 2007
$1,000,000
Wci Hotel Partners
Belco Community Cu
Grant Deed
$2,300,000 · Graystone Bank
Dec 28, 2004
$440,000
Belco Community Cu
Harbilas,elias
Grant Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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