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

    409 N 2Nd St Harrisburg, PA 17101

    • Office Properties & Spaces
    • 108,940 SF
    • 1.19 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1493133
    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

    • Buchanan Ingersoll & Rooney PC / Legal Services
    • PrimeSource Health Network Inc / Hospital
    • UPMC Pinnacle / Medical Center
    • Southgate Building / Medical Center
    • Milosz Andrew / Physical Therapist

    Property Details for 409 N 2Nd St

    Year built
    1940
    Lot size
    1.19 lot acres
    Property size
    108,940 SF
    Property type
    Office Properties & Spaces
    APN
    02-008-008
    APU
    2008008

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $13,780,000
      Market price range: $5.43M - $13.8M
      AI Estimate
      $11,878,000
      Market price range: $4.61M - $11.9M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $9,195,000
      Current use
      MEDICAL BUILDING
      $15,990,000
      Change: +74% Conversion: Easy
      RETAIL STORES
      $15,370,000
      Change: +67% Conversion: Easy
      RESTAURANT
      $15,015,000
      Change: +63% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $9,315,000
      Change: +1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8754
    Latitude
    40.2568
    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
    $258,562
    $1,075,300
    $4,271,700
    $5,347,000
    -
    $1,075,300
    $4,271,700
    $5,347,000

    Comparable in this City

    • Value Estimation by Request
      400 SF

      811 Reading St

      OFFICE (GENERAL) • 400 SF
      811 Reading St, Harrisburg, PA 17104
      View Details
    • Value Estimation
      $2,365,000
      42,700 SF

      1500 Paxton St

      OFFICE (GENERAL) • 42,700 SF
      1500 Paxton St, Harrisburg, PA 17104-2615
      View Details
    • Value Estimation
      $10,910,000
      100,283 SF

      1854 Brookwood St

      OFFICE (GENERAL) • 100,283 SF
      1854 Brookwood St, Harrisburg, PA 17104-2244
      View Details
    • Value Estimation by Request
      4,861 SF

      100 13th St

      OFFICE (GENERAL) • 4,861 SF
      100 13th St, Harrisburg, PA 17104-1050
      View Details
    • Value Estimation by Request
      2,414 SF

      724 Cameron St, Unit C

      CONDOMINIUM OFFICES • 2,414 SF
      724 Cameron St, Harrisburg, PA 17104-2523
      View Details
    • Value Estimation by Request
      19,500 SF

      724 Cameron St, Unit UT724D

      CONDOMINIUM OFFICES • 19,500 SF
      724 Cameron St, Harrisburg, PA 17104-2523
      View Details

    Similar Nearby for Sale

    • $110,000
      0.13 Acres

      Affordable Office Space with Land

      Modest office space with land, suitable for various businesses.
      420 S 21St St, Harrisburg, PA 17104
      View Details
    • $996,000
      9,960 SF

      Renovated Office Building with Parking

      Professionally renovated office building with generator and gated parking.
      2151 Greenwood St, Harrisburg, PA 17104
      View Details
    • $3,995,000

      Midtown Harrisburg Apartment Portfolio

      42-Unit Multifamily Complex, High ROI
      0 Mutli-Family Portfolio Midtown Harrisburg, Harrisburg, PA 17104
      View Details
    • $2,100,000
      36,694 SF

      Harrisburg Industrial Flex Space

      36,694 SF Flex Space, $2.1M
      951 13Th St, Harrisburg, PA 17104
      View Details
    • Contact for pricing
      0.01 Acres

      Harrisburg Land Opportunity

      Two build-ready lots near downtown, schools, shops, and transit.
      1604 Zarker St, Harrisburg, PA 17104
      View Details
    • $169,800
      2,532 SF

      Retail and Restaurant Opportunity

      Two-unit building near Downtown Harrisburg with retail and restaurant spaces.
      1222 Mulberry St, Harrisburg, PA 17104
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      11,971 SF

      Harrisburg Industrial Property

      Versatile 11,971 SF flex space, prime location.
      1070 Cameron St, Harrisburg, PA 17104
      View Details
    • $11 SF/Yr
      54,569 SF

      Harrisburg Office Space For Lease

      8,460 SF office space with high visibility available for lease.
      1500 Paxton St, Harrisburg, PA 17104
      View Details
    • Contact for pricing
      227,010 SF

      Kline Plaza: Retail Space Available

      Dauphin County shopping center; multiple spaces, flexible sizes.
      130 Kline Plz, Harrisburg, PA 17104
      View Details
    • $7 SF/Yr
      22,720 SF

      Harrisburg Warehouse Space For Lease

      3,200 SF warehouse with easy access to major highways.
      1591 S 19Th St, Harrisburg, PA 17104
      View Details
    • $7 SF/Yr
      41,630 SF

      Harrisburg Warehouse with Ample Parking

      Functional warehouse near UPS Hub with ample parking and loading.
      711 Gibson Blvd, Harrisburg, PA 17104
      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.
    409 N 2Nd 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.
    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.