648 Forrest Ave New Freedom, PA 17349-8422
Entity Owned
3-yr Hold
Free & Clear
Estimated value (blended)
$655k
Range $590k – $721k (±10%)
Property ID
US73-1205474
Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1996
Total area
5,934 SF
Lot
3.91 ac (170,320 SF)
Zoning code
AG
APN
45-000-CJ-0037.B0-00000
UPID
US73-1205474
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$633k
Blend (final)
Blend
$655k
Owner & transaction history
since 2023
4 recorded transactions
Zoning & alternative use
AG · New Freedom, PA
Top alternative use upside
Restaurant
$705,000
+41.9%
Medical building
$655,000
+31.1%
Auto repair, garage
$610,000
+22.1%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 16 comparables with addresses
7 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$655k
Value range
$590k – $721k
±10% around blend
Estimated value / SF
$110 / SF
Confidence
High
16 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
100
$590k
blend $655k
$721k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,934 SF
Lot area
3.91 ac
Year built
1996
Stories
1
APN
45-000-CJ-0037.B0-00000
Assessed value
$335,160
Annual tax
$9,010
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$426k
Weighted, 16 comps · high confidence
Evidence
16 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.3 mi away · 4,869 SF
11.3 mi away · 7,128 SF
13.0 mi away · 5,180 SF
13.6 mi away · 4,408 SF
13.7 mi away · 6,573 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$655k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 314 sales
$84
+32%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $110/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+42%
vs current-use indication
Medical Building
Auto Repair, Garage
Warehouse, Storage
Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 16 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$335k
Move the market yield to see immediate price impact.
Value / SF
$56
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$21k
$422k
$302k
$235k
$23k
$469k
$335k
$261k
$26k
$516k
$369k
$287k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
16 found
High confidence · county-verified
Closest comparable
$339k
2.2 mi · Dec 2025 · $66/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$9,010
Tax year 2024
Assessed value
$335,160
Assessed 2024
Previous assessed
$1,006,520
-66.7% YoY
Effective rate
2.69%
On assessed value
Assessed land
$335,160
Land market value
$335,160
Total market value
$335,160
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1996
Heating
STEAM
Cooling
CENTRAL
Stories
1
Total area
5,934 SF
Lot
3.91 ac (170,320 SF)
Zoning code
AG
APN
45-000-CJ-0037.B0-00000
UPID
US73-1205474
Jurisdiction
YORK
Zoning & alternative use
AG · New Freedom, PAZoning AG · permitted uses
AG · New Freedom, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Heating
STEAM
Cooling
Yes
Stories
1
Lot
3.91 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
AG
Jurisdiction
New Freedom, PA
Recorded code
AG
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for AG in New Freedom, PA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 648 Forrest Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
