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

    515 Grant St Palmyra, PA 17078-1204

    • Garden apartment buildings
    • 13,921 SF
    • 1.09 lot acres
    OFF-MARKET
    Value Estimations
    $955,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-3474554
    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

    • Garden apartment buildings

    Property Details for 515 Grant St

    Year built
    1968
    Lot size
    1.09 lot acres
    Property size
    13,921 SF
    Property type
    Garden apartment buildings
    APN
    16-2289882-359803-0000
    APU
    1622898823598030000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,046,000
      Market price range: $419k - $1.49M
      AI Estimate
      $633,000
      Market price range: $380k - $910k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,045,000
      Current use
      RETAIL STORES
      $1,290,000
      Change: +23% Conversion: Difficult
      OFFICE BUILDING
      $1,090,000
      Change: +4% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,005,000
      Change: -4% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,005,000
      Change: -4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Palmyra
    County
    Lebanon
    State
    Pennsylvania
    Longitude
    -76.5976
    Latitude
    40.3155
    CBSA code
    30140
    CBSA name
    LEBANON, 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
    2024
    $19,519
    $94,800
    $678,400
    $773,200
    -
    $97,330
    $696,509
    $793,839

    Comparable in this City

    • Value Estimation
      $1,145,000
      9,612 SF

      20 Market St

      GARDEN APT, COURT APT (5+ UNITS) • 9,612 SF
      20 Market St, Palmyra, PA 17078-8710
      View Details
    • Value Estimation
      $575,000
      6,836 SF

      541 Cherry St

      GARDEN APT, COURT APT (5+ UNITS) • 6,836 SF
      541 Cherry St, Palmyra, PA 17078-2106
      View Details
    • Value Estimation
      $1,420,000
      21,520 SF

      808 College St

      GARDEN APT, COURT APT (5+ UNITS) • 21,520 SF
      808 College St, Palmyra, PA 17078-3132
      View Details
    • Value Estimation
      $2,720,000
      39,544 SF

      201 Chestnut St

      GARDEN APT, COURT APT (5+ UNITS) • 39,544 SF
      201 Chestnut St, Palmyra, PA 17078-1348
      View Details
    • Value Estimation
      $780,000
      10,402 SF

      607 Columbus St

      GARDEN APT, COURT APT (5+ UNITS) • 10,402 SF
      607 Columbus St, Palmyra, PA 17078-3103
      View Details
    • Value Estimation by Request
      6,992 SF

      642 Walnut St

      GARDEN APT, COURT APT (5+ UNITS) • 6,992 SF
      642 Walnut St, Palmyra, PA 17078-2238
      View Details

    Similar Nearby for Sale

    • $449,999
      6,321 SF

      Versatile Multi-Unit Commercial Property

      Multi-unit commercial property with retail, office, and residential spaces.
      128 E Main St, Palmyra, PA 17078
      View Details
    • $485,000
      1,698 SF

      Renovated Duplex in Palmyra, PA

      Fully renovated two-unit property, ideal for investors or owner-occupants.
      22-24 N Lincoln St, Palmyra, PA 17078
      View Details
    • $419,000
      1,800 SF

      Pristine Townhome in Windermere Community

      Charming 2-bedroom townhome with upgrades, sunroom, and outdoor deck.
      505 Springbrook Dr, Palmyra, PA 17078
      View Details
    • $1,600,000
      1 SF

      Prime Retail Land on Route 422

      1.7 acres of commercial land in high-traffic retail area.
      E Main St, Palmyra, PA 17078
      View Details
    • Contact for pricing
      126,924 SF

      Palmyra Warehouse and Office Space

      Fully leased warehouse and office space on 45.25 acres.
      1221 E Main St, Palmyra, PA 17078
      View Details
    • $400,000
      0.06 Acres

      Palmyra Retail Land - $400K

      Prime Retail Pad Site, High Traffic
      940 Main St, Palmyra, PA 17078
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      111,051 SF

      Palmyra Retail Center Investment

      Prime Retail Space in Palmyra, PA
      901 Main St, Palmyra, PA 17078
      View Details
    • Contact for pricing
      69,136 SF

      Northside Commons Retail Center

      Campbelltown Shopping Center, 5 Spaces Available
      101 Northside Cmns, Palmyra, PA 17078
      View Details
    • $65,000

      Retail Development Opportunity on Main

      High-visibility commercial land for retail development along Route 422.
      940 E Main St, Palmyra, PA 17078
      View Details
    • $65,040
      2,500 SF

      Prime Palmyra Retail Pad Site

      High-profile location, 2,500 sqft, 58 parking spaces
      940 Main St, Palmyra, PA 17078
      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.
    515 Grant St
    Palmyra, PA 17078-1204
    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.