Add Listing
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 Hanover St Carlisle, PA 17013

    • Commercial land
    • 0.52 lot acres
    For Sale
    View listing
    $600,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1536680
    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 720 Hanover St

    Lot size
    0.52 lot acres
    Property type
    Commercial land
    APN
    29-20-1800-002
    APU
    29201800002

    Description

    This exceptional 1.05-acre commercial land parcel, located at 720 & 724 N. Hanover Street in Carlisle, Pennsylvania, presents a unique investment opportunity. Situated on Route 11/Harrisburg Pike, this high-visibility site boasts excellent frontage and accessibility. The property is zoned for Neighborhood Commercial use, opening doors to a variety of development possibilities. Its strategic location offers close proximity to key institutions, including the Army War College and Penn State Dickinson School of Law, as well as the vibrant downtown Carlisle area. This prime location makes it ideal for businesses seeking high traffic exposure and a strong customer base. Potential uses include financial services, retail establishments, restaurants (including those with drive-thru capabilities), and various service providers. The asking price for this exceptional property is $600,000. The lot size is 1.05 acres, providing ample space for development. The property's address is 720 & 724 N. Hanover Street, Carlisle, PA 17013. This is a rare opportunity to acquire a highly visible and strategically located commercial property in a thriving Pennsylvania community. Don't miss out on this chance to secure a valuable asset in a desirable market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Carlisle
    County
    Cumberland
    State
    Pennsylvania
    Longitude
    -77.1826
    Latitude
    40.2108
    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
    2024
    $2,419
    $120,000
    $0.00
    $120,000
    -
    $120,000
    $0.00
    $120,000

    Comparable in this City

    • Value Estimation by Request
      1.35 Acres

      Bedford St

      VACANT COMMERCIAL LAND • 1.35 Acres
      Bedford St, Carlisle, PA 17013
      View Details
    • Value Estimation by Request
      0.66 Acres

      Fairground Ave

      VACANT COMMERCIAL LAND • 0.66 Acres
      Fairground Ave, Carlisle, PA 17013
      View Details
    • Value Estimation by Request
      0.04 Acres

      Hanover St

      VACANT COMMERCIAL LAND • 0.04 Acres
      Hanover St, Carlisle, PA 17013
      View Details
    • Value Estimation by Request
      1.20 Acres

      Louther St

      VACANT COMMERCIAL LAND • 1.20 Acres
      Louther St, Carlisle, PA 17013
      View Details
    • Value Estimation by Request
      2.31 Acres

      99 Wolfs Brg Rdr

      VACANT COMMERCIAL LAND • 2.31 Acres
      99 Wolfs Brg Rdr, Carlisle, PA 17013-8833
      View Details
    • Value Estimation by Request
      0.48 Acres

      Carlisle Spgs Rd

      VACANT COMMERCIAL LAND • 0.48 Acres
      Carlisle Spgs Rd, Carlisle, PA 17013
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Commercial Land For Sale

      1.63 acre commercial land with highway frontage and high traffic.
      1900 W Trindle Rd, Carlisle, PA 17013
      View Details
    • Contact for pricing

      Prime Commercial Land Opportunity

      1.85 acres with office/garage, ideal for retail or warehousing.
      1832 W Trindle Rd, Carlisle, PA 17013
      View Details
    • Contact for pricing

      Carlisle PA Pad Site Available

      Pad site for ground lease in Carlisle, Pennsylvania.
      226 Westminster Dr, Carlisle, PA 17013
      View Details
    • $399,000
      1 SF

      Commercial Lot on Spring Road

      Commercial/light industrial zoned parcel with access and visibility.
      W Suncrest Dr And Spg Rd, Carlisle, PA 17013
      View Details
    • Contact for pricing

      Carlisle Commercial Land Opportunity

      Commercial land for sale with easy highway access.
      1063 Harrisburg Pike, Carlisle, PA 17013
      View Details
    • Contact for pricing
      32,000 SF

      Prime Land Near Dickinson College

      4.47-acre property with frontage on Ritner Highway near Carlisle.
      1225 Ritner Hwy, Carlisle, PA 17013
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,200 SF

      Carlisle Commercial Land Lease Opportunity

      0.57-acre lot, prime York Road location.
      180 York Rd, Carlisle, PA 17013
      View Details
    • Contact for pricing
      32,670 SF

      Carlisle Commercial Land - 0.75 Acres

      Prime Carlisle location, ideal for retail or office.
      800 Belvedere St, Carlisle, PA 17013
      View Details
    • Contact for pricing
      43,560 SF

      Kohl's Pad Site: Carlisle, PA

      Prime 1-Acre Commercial Land, Carlisle, PA.
      226 Westminster Dr, Carlisle, PA 17013
      View Details
    • Contact for pricing
      3,700 SF

      Carlisle Retail Land Opportunity

      Prime 0.75-acre retail lot, 3,700 sqft.
      800 Belvedere St, Carlisle, PA 17013
      View Details
    • Contact for pricing

      Prime Retail/Commercial Leasing Opportunity

      Exceptional space for retail or commercial tenants in Carlisle, PA.
      34 South Hanover St, Carlisle, PA 17013
      View Details
    • Contact for pricing

      Carlisle Trailer Lot for Lease

      Trailer lot with 210 spaces near I-81, Carlisle, PA.
      100 Logistics Dr, Carlisle, PA 17013
      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 Hanover St
    Carlisle, PA 17013
    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.
    Sign Up Successful!
    You now have access to more from Realmo!