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

    720 Elm Ave Hanover, PA 17331-4703

    • Investment properties
    • 0.88 lot acres
    OFF-MARKET
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-3189214
    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

    • DAI Diesel Parts Store / Auto Parts Store
    • Diesel Pro Truck Repair / Truck Repair Shop / Diesel Engine Repair Service
    • Diesel Pro Vehicle Repair / Truck Repair Shop / Diesel Engine Repair Service

    Property Details for 720 Elm Ave

    Lot size
    0.88 lot acres
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    08 008-0017---000
    APU
    80080017000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    Adams
    State
    Pennsylvania
    Longitude
    -77.0026
    Latitude
    39.808
    CBSA code
    23900
    CBSA name
    GETTYSBURG, PA MICROPOLITAN 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
    $11,606
    $104,900
    $419,800
    $524,700
    -
    $104,900
    $419,800
    $524,700

    Comparable in this City

    • Value Estimation
      $425,000
      16.87 Acres

      275 Radio Rd

      STORE/OFFICE (MIXED USE) • 16.87 Acres
      275 Radio Rd, Hanover, PA 17331-1140
      View Details
    • Value Estimation
      $355,000
      2.20 Acres

      214 Ram Dr

      STORE/OFFICE (MIXED USE) • 2.20 Acres
      214 Ram Dr, Hanover, PA 17331-8823
      View Details
    • Value Estimation by Request

      Centennial Rd

      STORE/OFFICE (MIXED USE)
      Centennial Rd, Hanover, PA 17331
      View Details
    • Value Estimation
      $260,000
      1.08 Acres

      467 Pne Grv Rd

      STORE/OFFICE (MIXED USE) • 1.08 Acres
      467 Pne Grv Rd, Hanover, PA 17331-9012
      View Details
    • Value Estimation
      $315,000
      0.83 Acres

      100 Eisenhower Dr

      STORE/OFFICE (MIXED USE) • 0.83 Acres
      100 Eisenhower Dr, Hanover, PA 17331-1142
      View Details
    • Value Estimation
      $330,000
      1.33 Acres

      1245 High St

      STORE/OFFICE (MIXED USE) • 1.33 Acres
      1245 High St, Hanover, PA 17331-1125
      View Details

    Similar Nearby for Sale

    • $7,450,000
      62,024 SF

      Hanover, PA Office Building For Sale

      62,024 SF Office, Mixed-Use, Vacant
      1401 York St, Hanover, PA 17331
      View Details
    • $479,900
      0.33 Acres

      Business Services

      Medical\/Dental Clinic
      400 Carlisle St, Hanover, PA 17331
      View Details
    • $1,300,000
      1,598 SF

      Hanover Mixed-Use Commercial Land

      Prime Baltimore Pike location, high traffic count.
      2217-2233 Baltimore Pike, Hanover, PA 17331
      View Details
    • Contact for pricing
      13,033 SF

      Hanover Auto Shop - 13,033 SF

      Prime Hanover, PA auto shop; 1.5 acres, high traffic.
      1155 Carlisle St, Hanover, PA 17331
      View Details
    • $349,900
      3,578 SF

      concrete floors

      electric and a 15' workbench. Both garages are accessed by blacktop driveways. Appliances included are: Refrigerator
      1494 Carlisle Pike, Hanover, PA 17331
      View Details
    • $175,000
      2,268 SF

      Hanover Executive Office Condo

      Prime Medical/Professional Office Space
      195 Stock St, Hanover, PA 17331
      View Details

    Similar Nearby for Lease

    • $2,295 /Mo
      6,534 SF

      Mixed-Use Commercial Property with Office

      Versatile mixed-use property with distinctive office space for lease.
      43 E Frederick St, Hanover, PA 17331
      View Details
    • $3 SF/Yr
      83,733 SF

      Prime Hanover Industrial Space

      83,733 SF Warehouse/Manufacturing Sublease
      262 Church St, Hanover, PA 17331
      View Details
    • $6 SF/Yr
      53,432 SF

      Hanover, PA Warehouse For Lease

      Large Industrial Space, Excellent Location
      475 Fame Ave, Hanover, PA 17331
      View Details
    • $18 SF/Yr
      1,460 SF

      Retail Space in Modern Strip

      In-line retail space suitable for various business types.
      1446e Baltimore St, Hanover, PA 17331
      View Details
    • Contact for pricing
      2,867 SF

      Regional Shopping Center Retail Space

      Retail space available in enclosed regional shopping center.
      1100-1155 Eichelberger St, Hanover, PA 17331
      View Details
    • Contact for pricing
      740,520 SF

      Hanover Commercial Land - 17 Acres

      Prime Hanover Commercial Land, Ready to Develop
      0 Carlisle Pike And Hanover St, Hanover, PA 17331
      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.
    720 Elm Ave
    Hanover, PA 17331-4703
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.