475 Fame Ave, Hanover, PA 17331-1584
- Flex space
- 53,432 SF
- 9.34 lot acres
Current Use by Public Records
- Elsner Engineering Works Inc / Industrial Manufacturer / Factory
- Paco Winders Manufacturing, LLC / Industrial Manufacturer / Production Facility
- Utz / Community Center
Property Details for 475 Fame Ave
- Year built
- 1966
- Lot size
- 9.34 lot acres
- Zone code
- RS
- Property type
- Flex space
- APN
- 67-000-DD-0055.00-00000
- APU
- 67000DD00550000000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jul 15, 2019 | — | Elsner Engineering Works INC | — | Deed · related | $4M · M & T Bank |
| May 31, 2019 | — | Elesner Engineering Works INC | — | Deed · related | $4.5M · M & T Bank |
Description
This exceptional Hanover, PA industrial property, located at 475 Fame Avenue, offers a substantial 53,432 square feet of warehouse and office space. The single-tenant building sits on a 9.34-acre lot and features a 24-foot ceiling height, ideal for various manufacturing or warehousing needs. Currently, approximately 44,000 square feet of warehouse space is available for lease, with the option to lease the entire building or half. The warehouse boasts one loading dock and is climate-controlled for optimal operational efficiency. Complementing the warehouse is approximately 4,000 square feet of office space, complete with multiple private offices, a cubicle area, two conference rooms, and a large cafeteria/meeting room. The property is zoned for manufacturing and conveniently located near Industrial Drive in York County, Pennsylvania, with the zip code 17331. The lease rate is $6.00 per square foot, NNN. This property presents a rare opportunity to secure a significant amount of high-quality industrial space in a prime location. The owner is open to considering leasing options for half of the warehouse space, providing flexibility for businesses of varying sizes.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $5,195,000
- 6.5%
- $4,795,000
- 7%
- $4,455,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $5,655,000
- AI Estimate
- $3,117,000
Market price range: $876k - $5.66MMarket price range: $577k - $3.12M -
Alternative Use
- Use
- Estimation
- INDUSTRIAL (GENERAL)
- $3,205,000 Current use
- AUTO REPAIR, GARAGE
- $7,025,000 Change: +119% Conversion: Easy
- RESTAURANT
- $6,360,000 Change: +99% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $5,985,000 Change: +87% Conversion: Difficult
- MEDICAL BUILDING
- $5,880,000 Change: +84% Conversion: Difficult
- OFFICE BUILDING
- $4,485,000 Change: +40% Conversion: Difficult
- RETAIL STORES
- $4,140,000 Change: +29% Conversion: Moderate
- WAREHOUSE, STORAGE
- $4,110,000 Change: +28% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Hanover
- County
- York
- State
- Pennsylvania
- Longitude
- -76.9649
- Latitude
- 39.8214
- CBSA code
- 49620
- CBSA name
- YORK-HANOVER, PA METROPOLITAN STATISTICAL AREA
