New search
Property profile & analytics
OFF-MARKET
Estimated value
$4,700,000
Flex space
500 Broadway Hanover, PA 17331-2001
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US73-1716518
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1902
Total area
33,767 SF
Lot
1.63 ac (71,003 SF)
Zoning code
ID
APN
67-000-18-0140.00-00000
UPID
US73-1716518
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Penn-Mar Castings, LLC Building Supply Metal Fabrication Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.65M
CAP Approach
CAP
$3.03M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.70M
Owner & transaction history
Penn Mar Real Estate LLC · 3 yrs held
Penn Mar Real Estate LLC
since 2022
Last sale
$4.9M
7 recorded transactions
Zoning & alternative use
ID · Hanover, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.4M
+119.4%
Restaurant
$4.0M
+98.6%
Commercial (general)
$3.8M
+86.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hanover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hanover submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,460,000
ML approach
$4,650,000
CAP Approach
CAP Return
Estimation
6%
$3,285,000
6.5%
$3,030,000
7%
$2,815,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$4,440,000
Change: +119% · Conversion: Easy
RESTAURANT
$4,020,000
Change: +99% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,780,000
Change: +87% · Conversion: Difficult
MEDICAL BUILDING
$3,715,000
Change: +84% · Conversion: Difficult
OFFICE BUILDING
$2,835,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$4.70M
Range $4.23M – $5.17M · ±10% · vs last sale $4.85M (Aug 4 2022)
Last sale anchor
$4.85M
Aug 4 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$139 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$19,045
Tax year 2024
Assessed value
$524,210
Assessed 2024
Previous assessed
$524,210
+0.0% YoY
Effective rate
3.63%
On assessed value
Assessed land
$96,810
Assessed improvement
$427,400
Land market value
$96,810
Improvement market value
$427,400
Total market value
$524,210
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1902
Heating
YES
Cooling
NONE
Buildings
5
Stories
1
Total area
33,767 SF
Lot
1.63 ac (71,003 SF)
Zoning code
ID
APN
67-000-18-0140.00-00000
UPID
US73-1716518
Jurisdiction
YORK
Zoning & alternative use
ID · Hanover, PA
Zoning ID · permitted uses
ID · Hanover, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hanover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$4.4M
RESTAURANT
Est. value
$4.0M
COMMERCIAL (GENERAL)
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$3.7M
OFFICE BUILDING
Est. value
$2.8M
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1902
Heating
YES
Cooling
Yes
Stories
1
Buildings
5
Lot
1.63 ac
Current owner
From public records · entity-resolved
Penn Mar Real Estate LLC
Entity
Mailing address
4 ATWELL CT, POTOMAC, MD 20854-6235
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 19, 2022
$2,400,000
Penn Mar Real Estate LLC
Penn Mar Castings INC
Correction Deed
related
—
Aug 4, 2022
$4,850,000
Broadway Hanover LLC
Broadway Triangle LLC
Deed
$3,395,000 · Peoples Bank
Jun 14, 2021
$3,500,000
Broadway Triangle LLC
Penn Mar Real Estate LLC
Deed
$2,625,000 · Wesbanco Bank INC
Mar 16, 2021
$2,400,000
Penn Mar Real Estate LLC
Penn Mar Castings INC
Deed
$212,000 · Northstar Bank
Dec 9, 2009
—
Penn Mar Castings INC
—
Deed Of Trust
related
$1,600,000 · Pnc Bank
—
—
Penn Mar Castings INC
—
Deed Of Trust
related
$400,000 · Pnc Bank
—
—
Penn Mar Castings INC
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 500 Broadway?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
