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

    4545 Harrisburg Pike Elizabethtown, PA 17022

    • Golf courses & driving ranges
    • 2,476 SF
    • 184.87 lot acres
    For Sale
    View listing
    $7,250,000
    Last Sale
    Apr 24, 2024
    $2,310,750
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2011274
    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

    • Golf courses & driving ranges

    Property Details for 4545 Harrisburg Pike

    Year built
    1992
    Construction
    FRAME
    Lot size
    184.87 lot acres
    Property size
    2,476 SF
    Property type
    Golf courses & driving ranges
    APN
    34-020-010
    APU
    34020010

    Description

    This exceptional 185-acre mixed-use development opportunity is located at 4545 E Harrisburg Pike in Elizabethtown, Pennsylvania, Dauphin County, zip code 17022. The property, formerly a golf course, boasts a prime location at the intersection of Route 230 (East Harrisburg Pike) and Deodate Road, featuring a recently installed traffic light to accommodate increased traffic flow. The site is strategically positioned between Middletown and Elizabethtown, offering convenient access to major transportation arteries including I-283, I-76, the PA Turnpike, I-83, I-81, Route 22, Route 422, Route 322, Route 30, and Harrisburg International Airport (HIA). A portion of the land is zoned C-2 Commercial/Agricultural (Shopping Center), permitting a variety of retail and commercial uses along both Deodate Road and Harrisburg Pike. The property's zoning allows for a high-density residential development, with a current plan supporting up to 185 single-family homes. Public sewer access has recently been extended to the Route 230 corridor, enhancing the development potential. The asking price for this Class A property is $7,250,000. Various APNs apply. This is a rare opportunity to acquire a large-scale development site with significant potential for both commercial and residential growth in a thriving Pennsylvania location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,310,000
      ML approach
      $2,310,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabethtown
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.6519
    Latitude
    40.1798
    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
    $31,642
    $664,500
    $349,800
    $1,014,300
    -
    $664,500
    $349,800
    $1,014,300

    Comparable in this City

    • Value Estimation by Request
      1,152 SF

      320 Frst Ln

      RECREATIONAL, ENTERTAINMENT • 1,152 SF
      320 Frst Ln, Elizabethtown, PA 17022-8459
      View Details
    • Value Estimation by Request
      2,160 SF

      731 Milton Grv N Rd

      RECREATIONAL, ENTERTAINMENT • 2,160 SF
      731 Milton Grv N Rd, Elizabethtown, PA 17022
      View Details
    • Value Estimation by Request
      2,208 SF

      1400 Tpke Rd

      RECREATIONAL, ENTERTAINMENT • 2,208 SF
      1400 Tpke Rd, Elizabethtown, PA 17022
      View Details
    • Value Estimation
      $1,145,000
      51,615 SF

      Bainbridge Rd

      AUDITORIUM • 51,615 SF
      Bainbridge Rd, Elizabethtown, PA 17022
      View Details
    • Value Estimation by Request
      800 SF

      1138 Rdg Rd

      THEATER (MOVIE) • 800 SF
      1138 Rdg Rd, Elizabethtown, PA 17022-9741
      View Details
    • Value Estimation by Request
      5,444 SF

      849 Milton Grv N Rd

      RECREATIONAL, ENTERTAINMENT • 5,444 SF
      849 Milton Grv N Rd, Elizabethtown, PA 17022
      View Details

    Similar Nearby for Sale

    • $1,600,000
      1,212 SF

      Elizabethtown Retail Redevelopment

      High-ROI retail assemblage, prime location.
      903 Market St, Elizabethtown, PA 17022
      View Details
    • Contact for pricing
      0.14 Acres

      no pets\"" GM Property Solutions is a full service property management company focused on customer service and quality work for both our property owners and residents. We love helping others and take pride in caring for people and properties.""""}"""

      Downtown Elizabethtown Retail Space
      213 Market St, Elizabethtown, PA 17022
      View Details
    • $2,800,080
      6,816 SF

      New AutoZone Investment Property

      New construction AutoZone in Elizabethtown, PA for sale.
      1235 S Market St, Elizabethtown, PA 17022
      View Details
    • $335,000

      Spacious Townhome with Wooded Views

      Well-maintained townhome near Elizabethtown College with over 2,400 sq. ft.
      9 Shybrook Ct, Elizabethtown, PA 17022
      View Details
    • $1,095,000
      16,178 SF

      Lakefront Jungle Lodge Resort

      Unique lakefront resort with development potential on 31 acres.
      Peninsula Zacpeten Ixlu Flores Peten, Elizabethtown, PA 17022
      View Details
    • Contact for pricing

      Industrial Outdoor Storage Site

      Fully leased industrial outdoor storage site near major routes.
      35 Industrial Rd, Elizabethtown, PA 17022
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,102 SF

      Retail Space with Pylon Sign

      Retail space with prominent visibility and ample parking.
      1605-1629 S Market St, Elizabethtown, PA 17022
      View Details
    • Contact for pricing
      206,236 SF

      Food Grade Warehouse For Lease

      110,000 SF food grade warehouse in Conewago Industrial Park.
      11 Industrial Rd, Elizabethtown, PA 17022
      View Details
    • Contact for pricing
      4,800 SF

      Elizabethtown Retail Spaces Available

      Retail spaces available for lease in Elizabethtown, Pennsylvania.
      377 Cloverleaf Rd, Elizabethtown, PA 17022
      View Details
    • $850 /Mo

      Restored Office Space in Elizabethtown

      Turnkey office suite in a historically significant building with modern amenities.
      31 N Spruce St, Elizabethtown, PA 17022
      View Details
    • $895 /Mo

      Restored Office Space in Landmark

      Turnkey office suite in a historically significant Elizabethtown building.
      31 N Spruce St, Elizabethtown, PA 17022
      View Details
    • $995 /Mo

      Restored Office Space in Landmark

      Turnkey office suite in a beautifully restored historic building.
      31 N Spruce St, Elizabethtown, PA 17022
      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.
    4545 Harrisburg Pike
    Elizabethtown, PA 17022
    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.