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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    83 Forrest Ave Shrewsbury, PA 17361-1402

    • Retail space
    • 1,581 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Sep 27, 2024
    $285,000
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    6.6%
    Retail space
    Location Intelligence
    Property ID
    US73-1940112
    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

    • Christy Maries Cake and Candy Supplies / Bakery

    Property Details for 83 Forrest Ave

    Year built
    1984
    Lot size
    0.36 lot acres
    Property size
    1,581 SF
    Zone code
    RS
    Property type
    Retail space
    APN
    84-000-06-0158.00-00000
    APU
    840000601580000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $285,000
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $315,000
      6.5%
      $290,000
      7%
      $270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $191,000
      Market price range: $73.2k - $192k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $175,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Shrewsbury
    County
    York
    State
    Pennsylvania
    Longitude
    -76.6743
    Latitude
    39.7707
    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
    $4,056
    $53,910
    $88,360
    $142,270
    -
    $53,910
    $88,360
    $142,270

    Comparable in this City

    • Value Estimation
      $430,000
      10,658 SF

      96 Sofia Dr

      RETAIL STORES (PERSONAL SERVICES) • 10,658 SF
      96 Sofia Dr, Shrewsbury, PA 17361-5201
      View Details
    • Value Estimation
      $85,000
      2,880 SF

      436 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,880 SF
      436 Main St, Shrewsbury, PA 17361-1712
      View Details
    • Value Estimation
      $355,000
      3,465 SF

      70 Forrest Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,465 SF
      70 Forrest Ave, Shrewsbury, PA 17361-1403
      View Details
    • Value Estimation
      $350,000
      4,600 SF

      215 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,600 SF
      215 Main St, Shrewsbury, PA 17361-1137
      View Details
    • Value Estimation
      $230,000
      4,176 SF

      504 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,176 SF
      504 Main St, Shrewsbury, PA 17361-1708
      View Details
    • Value Estimation
      $205,000
      2,304 SF

      109 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,304 SF
      109 Main St, Shrewsbury, PA 17361-1305
      View Details

    Similar Nearby for Sale

    • $2,000,000
      1.70 Acres

      Shrewsbury Retail Land - $2M

      Prime Shrewsbury location, 1.7 acres, retail potential.
      99 Forrest Ave, Shrewsbury, PA 17361
      View Details
    • $400,000
      6,720 SF

      2 Park St, Shrewsbury, PA 17361

      Commercial real estate • 6,720 SF
      2 Park St, Shrewsbury, PA 17361
      View Details
    • $159,900
      0.86 Acres

      Land in Shrewsbury, Pennsylvania

      Residential land for sale in Shrewsbury, York County, Pennsylvania.
      10 Harambe Overlook, Shrewsbury, PA 17361
      View Details
    • $159,900
      0.88 Acres

      Land in Shrewsbury, Pennsylvania

      Residential land for sale in Shrewsbury, York County, Pennsylvania.
      7 Harambe Overlook, Shrewsbury, PA 17361
      View Details
    • $159,900
      0.95 Acres

      Land in Shrewsbury, Pennsylvania

      Residential land for sale in Shrewsbury, York County, Pennsylvania.
      6 Harambe Overlook, Shrewsbury, PA 17361
      View Details
    • $420,000
      1,522 SF

      Shrewsbury Office Building - High Traffic Area

      Prime Commercial Space, High Visibility, Investment Opportunity
      25 Old Farm Ln, Shrewsbury, PA 17361
      View Details

    Similar Nearby for Lease

    • $1,449 /Mo
      43,124 SF

      Shrewsbury Commercial Office/Flex Space

      2,200 SF commercial space with custom buildout options available.
      518 S Main St, Shrewsbury, PA 17361
      View Details
    • Contact for pricing
      1,510 SF

      Grocery-Anchored Retail Space Available

      Retail space available in Shrewsbury Square shopping center.
      14625 Mount Airy Rd, Shrewsbury, PA 17361
      View Details
    • $4,500 /Mo

      Prime Retail Space on Main

      High-visibility commercial space in Shrewsbury with flexible layout options.
      502 S Main St, Shrewsbury, PA 17361
      View Details
    • Contact for pricing
      75,620 SF

      Market Square Retail Center

      York County Anchored Retail Opportunity
      549 Main St, Shrewsbury, PA 17361
      View Details
    • $22 SF/Yr
      1,050 SF

      Anchored Retail Shopping Center Space

      Retail space in a high-traffic shopping center.
      564 Shrewsbury Commons Ave, Shrewsbury, PA 17361
      View Details
    • $24 SF/Yr
      94,706 SF

      Shrewsbury Square Retail Center

      Grocery-anchored retail center, 3 spaces available
      0 Pa-851 & Mt. Airy Rd, Shrewsbury, PA 17361
      View Details
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    83 Forrest Ave
    Shrewsbury, PA 17361-1402
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    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
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