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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    441 Friendship Rd Harrisburg, PA 17111

    • Office Properties & Spaces
    • 49,800 SF
    • 2.24 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-5836923
    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

    • The Bair Foundation Child & Family Ministries / Foster Care Service / Social Service Agency
    • White River Fly Shop / (Bike/Boat/Book/etc) Store
    • CA Lupp, Inc. / Consultant

    Property Details for 441 Friendship Rd

    Year built
    1990
    Lot size
    2.24 lot acres
    Property size
    49,800 SF
    Property type
    Office Properties & Spaces
    APN
    63-024-056
    APU
    63024056

    Description

    This three-story, 54,000 square foot Class B office building, located at 441 Friendship Rd, Harrisburg, PA 17111, presents a unique opportunity. Built in 1990 and renovated in 2016, the property offers multiple suites for lease, ranging from 6,000 to 12,854 contiguous square feet. A total of 18,854 square feet is currently vacant. The building sits on a 2.24-acre lot (APN 63-024-056) in Dauphin County's Swartara Township, zoned for commercial use. Amenities include 192 parking spaces and elevators. Its strategic location adjacent to the Harrisburg Mall Development and a future I-83 interchange provides excellent accessibility and visibility. The property is suitable for various uses, including traditional and executive office spaces. This prime location offers easy access to major transportation routes and numerous amenities. The building's flexible layout makes it ideal for businesses seeking adaptable workspace in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,593,000
      Market price range: $2.55M - $6.87M
      AI Estimate
      $3,852,000
      Market price range: $1.69M - $5.27M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,590,000
      Current use
      MEDICAL BUILDING
      $7,310,000
      Change: +59% Conversion: Easy
      RETAIL STORES
      $7,025,000
      Change: +53% Conversion: Easy
      RESTAURANT
      $6,865,000
      Change: +50% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $5,040,000
      Change: +10% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $4,260,000
      Change: -7% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8266
    Latitude
    40.2516
    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
    $77,825
    $246,400
    $2,500,000
    $2,746,400
    -
    $246,400
    $2,500,000
    $2,746,400

    Comparable in this City

    • Value Estimation
      $8,720,000
      81,152 SF

      150 43rd St

      OFFICE (GENERAL) • 81,152 SF
      150 43rd St, Harrisburg, PA 17111-5708
      View Details
    • Value Estimation
      $2,140,000
      23,681 SF

      4400 Lewis Rd

      OFFICE (GENERAL) • 23,681 SF
      4400 Lewis Rd, Harrisburg, PA 17111-2544
      View Details
    • Value Estimation by Request
      5,804 SF

      3001 Pike St

      OFFICE (GENERAL) • 5,804 SF
      3001 Pike St, Harrisburg, PA 17111-1676
      View Details
    • Value Estimation by Request
      6,496 SF

      4700 Un Deposit Rd

      CONDOMINIUM OFFICES • 6,496 SF
      4700 Un Deposit Rd, Harrisburg, PA 17111-3774
      View Details
    • Value Estimation
      $525,000
      3,500 SF

      3930 Chambers Hl Rd

      OFFICE (GENERAL) • 3,500 SF
      3930 Chambers Hl Rd, Harrisburg, PA 17111-1508
      View Details
    • Value Estimation
      $1,695,000
      14,700 SF

      940 Park Dr

      OFFICE (GENERAL) • 14,700 SF
      940 Park Dr, Harrisburg, PA 17111-2800
      View Details

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    Similar Nearby for Lease

    • $14 SF/Yr
      54,000 SF

      Tecport Business Center: Harrisburg, PA

      Harrisburg Office Space: Flexible Suites Available
      441 Friendship Rd, Harrisburg, PA 17111
      View Details
    • $18 SF/Yr
      46,241 SF

      Harrisburg Executive Office Suites

      Class A Office Space, Multiple Suites Available
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      View Details
    • $19 SF/Yr
      125,000 SF

      Harrisburg Class A Office Space

      Modern office suites, ample parking.
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      View Details
    • $15 SF/Yr
      2,000 SF

      Renovated Office Suites For Lease

      Flexible, move-in ready office suites in a convenient location.
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    • $18 SF/Yr
      466,092 SF

      Harrisburg Office Space For Lease

      Office space for lease in Harrisburg, PA. Up to 42,000SF.
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    • $12 SF/Yr
      77,374 SF

      Modern Office/Flex Space Available

      New construction office/flex space with highway access and flexible layout.
      471 Jplwick Dr, Harrisburg, PA 17111
      View Details
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    441 Friendship Rd
    Harrisburg, PA 17111
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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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