1108 Chocolate AveHershey, PA 17033
- Healthcare properties
- 7,043 SF
Property Details for 1108 Chocolate Ave
- Year built
- 1984
- Lot size
- 0.45 AC
- Property size (Sq ft)
- 7,043 SF
- Property type
- Healthcare properties
- Property subtype
- Medical offices
- APN
- 24-006-160
- APU
- 24006160
Description
This well-maintained, single-story medical office building in Hershey, Pennsylvania, offers a compelling investment opportunity. Located at 1108 E Chocolate Ave, this 7,692 square foot Class B property sits on a 0.45-acre lot and features 30 parking spaces, including 19 covered spaces. Built in 1984 and renovated in 2019, the building is currently 67% occupied, with two suites leased to established medical tenants: Endodontics Associates and Dr. Mayes. A third suite is available, presenting an ideal opportunity for an owner-user or additional rental income. The property is zoned for mixed-use within the Pamldale zoning district, offering potential for future expansion. Its prime location across from the Hershey Country Club and minutes from downtown Hershey provides excellent visibility and accessibility. The strong in-place cash flow from existing tenants makes this a sound investment with potential for significant return. This multi-tenant building offers a blend of existing income and future development possibilities in a highly desirable Hershey location.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,123,420
- 6.5%
- $1,037,003
- 7%
- $962,931
-
Comparable approach
- Method
- Valuation
- Relative Method
- $602,316
- Geo Method
- $443,075
-
Alternative Use
- Use
- Valuation
- Residential
- $1,285,884
- Hospitality
- $1,177,862
- Educational
- $979,968
- Medical
- $1,013,670
- Retail
- $1,524,394
Location Insight
- City
- Hershey
- County
- Dauphin
- State
- Pennsylvania
- Latitude
- 40.2951
- Longitude
- -76.6245
- CBSA code
- 25420
- CBSA name
- HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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