Property profile & analytics
648 Forrest Ave New Freedom, PA 17349-8422
- Commercial land
- 5,934 SF
- 3.91 lot acres
OFF-MARKET
Last Sale
Apr 28, 2023
Apr 28, 2023
Value Estimations
$655,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US73-1205474
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 land
Property Details for 648 Forrest Ave
- Year built
- 1996
- Lot size
- 3.91 lot acres
- Property size
- 5,934 SF
- Zone code
- AG
- Property type
- Commercial land
- APN
- 45-000-CJ-0037.B0-00000
- APU
- 45000CJ0037B000000
Description
This exceptional retail development opportunity is situated at the southeast quadrant of I-83 and Forrest Avenue in Shrewsbury, York County. Benefitting from the 2021 I-83 interchange rebuild, this project encompasses eight acres, with four acres dedicated to retail development and an adjacent four acres slated for a Royal Farms. The site offers convenient access via a cross-easement providing a right-in turn and signalized access on Forrest Avenue. Developers can choose between one to two pad sites or a single, proposed 16,628 square foot retail building. The proposed building offers flexible suite sizes ranging from 2,000 to 16,000 square feet, with endcaps potentially accommodating drive-through facilities. The development plan includes approximately 100 parking spaces. The lease rate for the proposed retail building is $25 per square foot, NNN. Completion is anticipated for the fourth quarter of 2022 or the first quarter of 2023. This high-visibility location offers unparalleled access and exposure for businesses seeking a thriving retail environment. The strategic location and modern infrastructure make this an exceptional investment opportunity. Don't miss this chance to secure a prime retail space in a rapidly growing area.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $632,000
- AI Estimate
- $724,000
Market price range: $208k - $880kMarket price range: $257k - $878k -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $500,000 Current use
- RESTAURANT
- $705,000 Change: +42% Conversion: Difficult
- MEDICAL BUILDING
- $655,000 Change: +31% Conversion: Easy
- AUTO REPAIR, GARAGE
- $610,000 Change: +22% Conversion: Difficult
- WAREHOUSE, STORAGE
- $530,000 Change: +7% Conversion: Difficult
- OFFICE BUILDING
- $485,000 Change: -3% Conversion: Easy
- RETAIL STORES
- $455,000 Change: -9% Conversion: Easy
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- New Freedom
- County
- York
- State
- Pennsylvania
- Longitude
- -76.666
- Latitude
- 39.7704
- CBSA code
- 49620
- CBSA name
- YORK-HANOVER, 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
$9,010
$335,160
$0.00
$335,160
-
$335,160
$0.00
$335,160
