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    Property profile & analytics

    43 Carlisle St Hanover, PA 17331-2404

    • Retail residential properties
    • 18,936 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Mar 07, 2025
    Value Estimations
    $640,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1872906
    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

    • Heirloom 23 / Home Decor Store / Department Store
    • Taking Art 2 The Streets / Tattoo & Piercing Shop
    • Incoranata Insights and Enlightenment / Spiritual Center
    • Optic Audio / Film Production / Television Studio
    • Josiah Morgan Tattooer / Tattoo & Piercing Shop

    Property Details for 43 Carlisle St

    Year built
    1920
    Lot size
    0.15 lot acres
    Property size
    18,936 SF
    Zone code
    CM
    Property type
    Retail residential properties
    APN
    67-000-18-0240.00-00000
    APU
    670001802400000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $698,000
      Market price range: $699k - $3.78M
      AI Estimate
      $836,000
      Market price range: $836k - $3.15M

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    York
    State
    Pennsylvania
    Longitude
    -76.9841
    Latitude
    39.8018
    CBSA code
    49620
    CBSA name
    YORK-HANOVER, 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
    2024
    $13,648
    $44,620
    $331,040
    $375,660
    -
    $44,620
    $331,040
    $375,660

    Comparable in this City

    • Value Estimation
      $545,000
      55.70 Acres

      5000 Hanover Rd

      STORES & APARTMENTS • 55.70 Acres
      5000 Hanover Rd, Hanover, PA 17331-9077
      View Details
    • Value Estimation by Request
      1.93 Acres

      713 Linden Ave

      STORE/OFFICE (MIXED USE) • 1.93 Acres
      713 Linden Ave, Hanover, PA 17331-4629
      View Details
    • Value Estimation by Request
      1,210 SF

      490 Smoketown Rd

      STORES & APARTMENTS • 1,210 SF
      490 Smoketown Rd, Hanover, PA 17331-9095
      View Details
    • Value Estimation
      $700,000
      1.21 Acres

      80 Wetzel Dr

      STORE/OFFICE (MIXED USE) • 1.21 Acres
      80 Wetzel Dr, Hanover, PA 17331-1159
      View Details
    • Value Estimation by Request
      3,936 SF

      25 York St

      STORES & APARTMENTS • 3,936 SF
      25 York St, Hanover, PA 17331-3106
      View Details
    • Value Estimation by Request
      2,700 SF

      113 Broadway

      STORES & APARTMENTS • 2,700 SF
      113 Broadway, Hanover, PA 17331
      View Details

    Similar Nearby for Sale

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      Hanover R&D Facility For Sale

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    • $1,300,000
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      Hanover Mixed-Use Commercial Land

      Prime Baltimore Pike location, high traffic count.
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      Multi-Purpose Building For Sale

      Three-story, approximately 29,100 SF multi-purpose building requiring total rehabilitation.
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    • $349,900
      3,578 SF

      concrete floors

      electric and a 15' workbench. Both garages are accessed by blacktop driveways. Appliances included are: Refrigerator
      1494 Carlisle Pike, Hanover, PA 17331
      View Details
    • $179,000
      6.18 Acres

      6.18 Acre Residential Land Parcel

      6.18 acre parcel to build your dream home.
      401 Beck Ml Rd Beck Ml Rd, Hanover, PA 17331
      View Details
    • $949,000
      12,491 SF

      Medical Office Space For Sale

      12,491 SqFt medical office space available for purchase.
      864 Broadway, Hanover, PA 17331
      View Details

    Similar Nearby for Lease

    • New
      $3,895 /Mo
      4,138 SF

      Historic Brick Building in Hanover

      Multi-story building suitable for various commercial and mixed-uses.
      241 N Franklin St, Hanover, PA 17331
      View Details
    • Contact for pricing

      Prime Retail Space on Carlisle

      High-visibility commercial space in Hanover's heart with ample parking.
      455 Carlisle St, Hanover, PA 17331
      View Details
    • Contact for pricing

      Manufacturing/Warehouse and Office Space

      Clean industrial space with office, docks, and drive-in.
      475 Fame Ave, Hanover, PA 17331
      View Details
    • Contact for pricing

      Hanover Warehouse Units Available

      Warehouse units with dock and drive-in doors for lease.
      262 Church St, Hanover, PA 17331
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    • Contact for pricing
      2,867 SF

      Regional Shopping Center Retail Space

      Retail space available in enclosed regional shopping center.
      1100-1155 Eichelberger St, Hanover, PA 17331
      View Details
    • Contact for pricing
      1,460 SF

      Retail Space in Modern Strip

      In-line retail space suitable for various business types.
      1446e Baltimore St, Hanover, PA 17331
      View Details
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    43 Carlisle St
    Hanover, PA 17331-2404
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    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
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