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

    5118 Innovation Way Chambersburg, PA 17201-4187

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-4967885
    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

    • Commercial real estate

    Property Details for 5118 Innovation Way

    Property type
    Commercial real estate
    APN
    09-C3S-51
    APU
    09C3S51

    Description

    This exceptional 90,000-square-foot industrial building, situated within the Letterkenny Army Depot in Chambersburg, Pennsylvania, presents a unique opportunity. The single-story, Class C structure boasts a flexible layout ideal for distribution or warehouse operations. Built in 1946, the building features 14'-16' ceiling heights, enhancing storage and operational efficiency. Access is provided by four dock-high doors and five drive-in doors (four 10'x10' and one 10'x14'). Ample parking is available with 50 spaces. The property includes a significant advantage: a rail siding at the rear, complemented by a loading platform along the building's front. The 71.72-acre site is zoned for industrial use and offers the potential for foreign trade zone status. Approximately 3,000 square feet of office space is already built out. Gas and electric power are readily available. The property's Asset Property Number (APN) is 09-0C03S-051. The address is 5118 Innovation Way, Chambersburg, PA 17202. The owner is open to considering both lease and sale options. An adjacent 90,000 square foot building is also available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chambersburg
    County
    Franklin
    State
    Pennsylvania
    Longitude
    -77.6296
    Latitude
    39.9933
    CBSA code
    16540
    CBSA name
    CHAMBERSBURG, PA MICROPOLITAN 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
    $11,682
    $26,780
    $47,250
    $74,030
    -
    $26,780
    $47,250
    $74,030

    Comparable in this City

    • Value Estimation by Request

      Sandbag Rd

      COMMERCIAL (GENERAL)
      Sandbag Rd, Chambersburg, PA 17201
      View Details
    • Value Estimation by Request
      1.95 Acres

      2nd St

      COMMERCIAL (GENERAL) • 1.95 Acres
      2nd St, Chambersburg, PA 17201
      View Details
    • Value Estimation by Request
      0.18 Acres

      2nd St

      COMMERCIAL (GENERAL) • 0.18 Acres
      2nd St, Chambersburg, PA 17201
      View Details
    • Value Estimation by Request
      20.05 Acres

      112 7th St

      COMMERCIAL (GENERAL) • 20.05 Acres
      112 7th St, Chambersburg, PA 17201-1720
      View Details
    • Value Estimation by Request

      1671 Orch Dr

      COMMERCIAL (GENERAL)
      1671 Orch Dr, Chambersburg, PA 17201-9206
      View Details
    • Value Estimation by Request

      Patrol Rd

      COMMERCIAL (GENERAL)
      Patrol Rd, Chambersburg, PA 17201
      View Details

    Similar Nearby for Sale

    • $425,000
      1.52 Acres

      Prime Commercial Land, Chambersburg PA

      1.52 Acres, US Route 30 Access
      1536 Lincoln Way, Chambersburg, PA 17201
      View Details
    • Contact for pricing

      King Street HubZone Office Space

      Unique open office, ideal location.
      254 King St, Chambersburg, PA 17201
      View Details
    • $795,000
      4,000 SF

      Chambersburg Restaurant with Home

      Fully equipped restaurant with home and garages for sale.
      679 S Main St, Chambersburg, PA 17201
      View Details
    • $75,000
      2.29 Acres

      Chambersburg Land for Residential Development

      2.29-acre lot for a dream home in Chambersburg, PA.
      Spg Bloom Ct, Chambersburg, PA 17201
      View Details
    • $898,000
      3.00 Acres

      Turn-Key Car Dealership Opportunity

      Thriving car dealership with garage and ample display space.
      422 Loudon St, Chambersburg, PA 17201
      View Details
    • $898,000
      3.00 Acres

      Turn-Key Car Dealership in Chambersburg

      Thriving car dealership with 6-bay garage and ample vehicle display.
      422 Loudon St, Chambersburg, PA 17201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      115,899 SF

      Chambersburg Towne Center Retail Space

      High-traffic shopping center; spaces available.
      1005 Wayne Ave, Chambersburg, PA 17201
      View Details
    • $1,000 /Mo

      Unique Downtown Chambersburg Office Space

      Charming office with stone walls, exposed beams, and prime location.
      56 S 3Rd St, Chambersburg, PA 17201
      View Details
    • Contact for pricing
      1,960 SF

      Grocery Anchored Shopping Center Space

      Retail space in a high-traffic shopping center.
      520 Gateway Ave, Chambersburg, PA 17201
      View Details
    • Contact for pricing
      1,040 SF

      Retail Space in Wayne Plaza

      Retail space available in a busy Chambersburg shopping center.
      939 Wayne Ave, Chambersburg, PA 17201
      View Details
    • $18 SF/Yr
      4,435 SF

      Chambersburg Retail Space For Rent

      Retail space in Chambersburg's retail corridor, visible from I-81.
      452 Gateway Ave, Chambersburg, PA 17201
      View Details
    • $2,950 /Mo
      9,583 SF

      Commercial Space with Salon Potential

      Retail/office space with salon potential, private parking, and easy access.
      315 Stouffer Ave, Chambersburg, PA 17201
      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.
    5118 Innovation Way
    Chambersburg, PA 17201-4187
    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.