1135 Chocolate AveHershey, PA 17033

Property Details for 1135 Chocolate Ave

Year built

1973

Lot size

0.93 AC

Property size (Sq ft)

41,070 SF

Property type

Office properties

Property subtype

Other office properties

APN

24-006-128

APU

24006128

Description

This three-story, 41,070-square-foot Class B medical office building in Hershey, PA, offers multiple suites ranging from 1,000 to 9,500 contiguous square feet. Located at 1135 E Chocolate Ave, 17033, this property boasts 168 parking spaces and elevators. Built in 1973 and renovated in 2017, the building features a Palmdale Mixed Use zoning designation, allowing for a variety of uses including office, professional, financial, healthcare, call center, and retail. Currently, several suites are available, with flexible lease terms and a gross lease rate of $19.50 per square foot, encompassing all costs. One newly renovated 1,500-square-foot suite is immediately available and move-in ready, featuring new LED lighting, paint, and flooring. The landlord is offering at least one month of free rent. The building's convenient location on Route 322 provides easy access from all directions, and ample parking is available, including card access after hours. The building previously housed a call center for Penn State Hershey Medical Center, offering high-quality build-outs. The landlord will assist with space planning and build-out for new tenants. Suites offer views of the Hershey Country Club or open land. The building's diverse suite sizes cater to both small and large tenants.

• CAP approach

  CAP return

  Valuation

  6%

  $6,551,122

  6.5%

  $6,047,190

  7%

  $5,615,248

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,512,529

  Geo Method

  $2,583,714

• Alternative Use

  Use

  Valuation

  Residential

  $7,498,516

  Hospitality

  $6,868,600

  Educational

  $5,714,594

  Medical

  $5,911,128

  Retail

  $8,889,369

Location Insight

City

Hershey

County

Dauphin

State

Pennsylvania

Latitude

40.2957

Longitude

-76.6246

CBSA code

25420

CBSA name

HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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