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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5600 Allentown Blvd Harrisburg, PA 17112

    • Strip malls
    • 7,835 SF
    • 0.91 lot acres
    For Lease
    View listing
    Last Sale
    Nov 23, 2022
    $1,200,000
    Value Estimations
    $1,120,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2751766
    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

    • Class Car Co / Law Firm
    • Taco King / Restaurant
    • Camelot Cleaners / (Bike/Boat/Book/etc) Store

    Property Details for 5600 Allentown Blvd

    Year built
    1977
    Construction
    FRAME
    Lot size
    0.91 lot acres
    Property size
    7,835 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    35-033-035
    APU
    35033035

    Description

    This exceptional 2-acre commercial land parcel is situated at 5600 Allentown Boulevard in Harrisburg, Pennsylvania, Dauphin County (APN 35-033-035). Zoned for General Commercial use, this single-tenant property boasts unparalleled visibility along Route 22, a major thoroughfare with approximately 50,000 vehicles per day. Its convenient location just off I-81 exit provides easy access and high traffic exposure. The property presents a prime redevelopment opportunity, with conceptual plans illustrating potential uses such as an 8,000 square foot medical facility or a mixed-use development including a 3,000 square foot bank with drive-thru and a 4,000 square foot retail building. The site benefits from its proximity to numerous national retailers, including McDonald's, Burger King, Kohl's, Target, Costco, and Best Buy. Land lease pricing is negotiable and will be determined based on the level of land improvement responsibilities assumed by the owner. The ownership is open to build-to-suit options for both sale and lease arrangements. This is an exceptional opportunity for investors and developers seeking a high-traffic location with significant redevelopment potential in a thriving commercial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,050,000
      ML approach
      $1,030,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $960,000
      COMMERCIAL (GENERAL)
      $830,000
      RESTAURANT
      $810,000
      OFFICE BUILDING
      $780,000
      INDUSTRIAL (GENERAL)
      $735,000
      RETAIL STORES
      $700,000
      MEDICAL BUILDING
      $695,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.7923
    Latitude
    40.321
    CBSA code
    25420
    CBSA name
    HARRISBURG-CARLISLE, 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
    2023
    $20,896
    $319,200
    $457,000
    $776,200
    -
    $319,200
    $457,000
    $776,200

    Comparable in this City

    • Value Estimation
      $3,425,000
      130,542 SF

      5114 Jonestown Rd

      SHOPPING CENTER, STRIP CENTER • 130,542 SF
      5114 Jonestown Rd, Harrisburg, PA 17112-4908
      View Details
    • Value Estimation
      $600,000
      23,858 SF

      5125 Jonestown Rd Ste, Unit 465

      SHOPPING CENTER, STRIP CENTER • 23,858 SF
      5125 Jonestown Rd Ste, Harrisburg, PA 17112-2998
      View Details
    • Value Estimation by Request
      20,022 SF

      5125 Jonestown Rd, Unit UT17

      SHOPPING CENTER, STRIP CENTER • 20,022 SF
      5125 Jonestown Rd, Harrisburg, PA 17112-2990
      View Details
    • Value Estimation by Request
      6,300 SF

      7059 Linglestown Rd

      SHOPPING CENTER, STRIP CENTER • 6,300 SF
      7059 Linglestown Rd, Harrisburg, PA 17112-9803
      View Details
    • Value Estimation by Request
      3,277 SF

      5125 Jonestown Rd

      SHOPPING CENTER, STRIP CENTER • 3,277 SF
      5125 Jonestown Rd, Harrisburg, PA 17112-2990
      View Details
    • Value Estimation by Request
      8,000 SF

      5125 Jonestown Rd Ste, Unit 105

      SHOPPING CENTER, STRIP CENTER • 8,000 SF
      5125 Jonestown Rd Ste, Harrisburg, PA 17112-2987
      View Details

    Similar Nearby for Sale

    • $3,700,000
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      Fully Leased Retail Shopping Center

      Retail shopping center on heavily trafficked road near I-83.
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      Retail Spaces on Allentown Boulevard

      Retail suites in shell condition with high visibility and access.
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    • $680,000
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      High-Visibility Retail Building Harrisburg PA

      Prime Retail Space, High Traffic Area
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    • $2,700,000
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      5430 Jonestown Rd

      Retail properties • 18,207 SF
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    • $14,200,000
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      Truck Towing and Recovery Portfolio

      Portfolio of truck towing and recovery facilities in Pennsylvania for sale.
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    • $2,495,000
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      Harrisburg Warehouse Investment

      22,274 SF Warehouse, 5 Acres, High ROI
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    Similar Nearby for Lease

    • $9 SF/Yr
      4,612 SF

      Updated Mixed-Use Building For Rent

      Recently updated mixed-use building with office/retail space for lease.
      5201 Jonestown Rd, Harrisburg, PA 17112
      View Details
    • $27 SF/Yr
      72,138 SF

      Harrisburg Office Space Available

      Class A Office, Harrisburg, PA
      2360 Colonial Rd, Harrisburg, PA 17112
      View Details
    • $1,850 /Mo

      Retail Space in Harrisburg, PA

      Retail and professional location in West Hanover Township, Harrisburg, Pennsylvania.
      7795 Allentown Blvd, Harrisburg, PA 17112
      View Details
    • $10 SF/Yr
      3,600 SF

      Retail Space on Linglestown Road

      Retail space available for lease on Linglestown Road.
      4141 Linglestown Rd, Harrisburg, PA 17112
      View Details
    • Contact for pricing
      120,226 SF

      Harrisburg Retail Pad Opportunity

      Two Retail Spaces, 1.36-1.4 Acres
      4330 Linglestown Rd, Harrisburg, PA 17112
      View Details
    • $2,100 /Mo

      Linglestown Road Office/Retail Space

      Office/retail space with frontage on Linglestown Road.
      4401 Linglestown Rd, Harrisburg, PA 17112
      View Details
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    Harrisburg, PA 17112
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    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
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