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Property profile & analytics
OFF-MARKET
Estimated value
$7,280,000
Hotels
515 Chocolate Ave Hershey, PA 17033-1325
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US73-4310873
Property summary
AI-generated overview
This exceptional Hershey, Pennsylvania commercial property, located at 515 W Chocolate Ave, offers a unique blend of retail, office, and industrial spaces. The 6.41-acre lot encompasses seven buildings, totaling 31,758 square feet, spread across two stories. Built in 1940, the property is zoned C25 - Commercial/Industrial: Hershey Mixed Use with Downtown Core 9.1 Overlay District, providing flexibility for a variety of businesses. The property features multiple tenancy options, including flex suites ideal for adaptable businesses, self-storage units catering to individual and commercial needs, and traditional office suites for professional organizations. This prime location offers excellent visibility and accessibility, situated near popular local establishments. The property's diverse space options and central Hershey location make it an attractive opportunity for businesses seeking a versatile and convenient space. The Dauphin County address (APN: 24-009-046, 24-009-053) and zip code 17033 provide easy identification and logistical planning. This mixed-use property presents a rare opportunity to establish a presence in a thriving Hershey community.
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2017
Total area
71,317 SF
Lot
1.81 ac (79,061 SF)
APN
24-020-033
UPID
US73-4310873
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
-
Nick Semuta Golf Lessons & Coach Golf Instructor
-
AIONX Antimicrobial Technologies, Inc. Corporate Office
-
Courtyard Hershey Chocolate Avenue Hotel & Motel
-
Woods & Irons Golf Course
-
Stumpy's Hatchet House of Hershey Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.26M
Comparable Approach
Comparable
$7.06M
Blend (final)
Blend
$7.28M
Owner & transaction history
Bears Creek Hershey Hotel LLC · 10 yrs held
Bears Creek Hershey Hotel LLC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$11.8M
+1.5%
Commercial (general)
$11.8M
+1.5%
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 Hershey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hershey 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$8,945,000
6.5%
$8,255,000
7%
$7,665,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$11,630,000
Current use
MEDICAL BUILDING
$11,805,000
Change: +2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,800,000
Change: +1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$11,590,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$10,350,000
Change: -11% · Conversion: Difficult
RESTAURANT
$10,060,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$7.28M
Range $6.55M – $8.01M · ±10%
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
$102 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$178,018
Tax year 2023
Assessed value
$6,170,700
Assessed 2024
Previous assessed
$6,170,700
+0.0% YoY
Effective rate
2.88%
On assessed value
Assessed land
$800,500
Assessed improvement
$5,370,200
Land market value
$800,500
Improvement market value
$5,370,200
Total market value
$6,170,700
Applied tax rate
24.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2017
Heating
YES
Cooling
YES
Total area
71,317 SF
Lot
1.81 ac (79,061 SF)
APN
24-020-033
UPID
US73-4310873
Jurisdiction
DAUPHIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$11.6M
MEDICAL BUILDING
Est. value
$11.8M
COMMERCIAL (GENERAL)
Est. value
$11.8M
AUTO REPAIR, GARAGE
Est. value
$11.6M
RETAIL STORES
Est. value
$10.4M
RESTAURANT
Est. value
$10.1M
HOTEL/MOTEL Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
RESTAURANT
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
2017
Heating
YES
Cooling
Yes
Lot
1.81 ac
Current owner
From public records · entity-resolved
Bears Creek Hershey Hotel LLC
Entity
Mailing address
1965 WADDLE RD, STATE COLLEGE, PA 16803-1639
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2018
—
Bears Creek Hershey Hotel LLC
—
Deed
related
$18,000,000 · Citi R/e Fndg INC
Mar 10, 2016
$2,500,000
Bears Creek Hershey Hotel LLC
Penn Forensics LLC
Special Warranty Deed
$12,337,869 · Cnb Bank
Sep 19, 2014
$3,609
Penn Forensics LLC
High Sheriff Of Dauphin County|hershey Office LP
Trustees Deed
—
Mar 16, 2007
$2,100,000
Hershey Office
Frederick Chevrolet-cadillac I
Trustees Deed
$1,500,000 · Susquehanna Bk
Mar 16, 2007
—
Frederick Chevrolet-cadillac I
E O Miller Chevrolet
Grant Deed
related
—
—
—
Hershey Office
—
Deed Of Trust
related
$150,000 · Susquehanna Bk
—
—
Penn Forensics LLC
—
Deed Of Trust
related
$376,699 · S&t Bk
—
—
Bears Creek Hershey Hotel LLC
—
Deed Of Trust
related
$18,000,000 · Citi R/e Fndg INC
—
—
Frederick Chevrolet-cadillac I
—
Deed Of Trust
related
$250,000 · Waypoint Bk
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.
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