648 Forrest Ave, New Freedom, PA 17349-8422
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
AG · New Freedom, PANew Freedom. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.