1143 Chocolate AveHershey, PA 17033

Property Details for 1143 Chocolate Ave

Year built

1972

Construction

FRAME

Lot size

0.80 AC

Property size (Sq ft)

1,222 SF

Property type

Retail properties

Property subtype

Other automotive properties

APN

24-006-129

APU

24006129

Description

This exceptional 16,700-square-foot retail strip center presents a unique investment opportunity in Hershey, Pennsylvania. Located at 1143 East Chocolate Avenue, this newly constructed property boasts a prime location less than 1.5 miles from Hersheypark, Hershey's Chocolate World, and ZooAmerica, attracting over 3,276,000 visitors annually. The center's strategic positioning also benefits from its proximity to Penn State Hershey Medical Center (a 484-bed hospital serving over 900,000 patients yearly) and the Hershey Corporation headquarters (14,800 employees). The 1.44-acre lot offers significant visibility and accessibility along East Chocolate Avenue (Route 422) and Wilson Avenue. The entire 16,700 square feet is currently vacant and available for lease, with a minimum divisible space of 1,200 square feet. This presents a blank canvas for a variety of retail concepts to capitalize on the area's robust tourism and strong daytime employee base (over 55,000 within a 5-mile radius) and high average household income ($97,559 within a 5-mile radius). This property is situated in Dauphin County and offers unparalleled potential for growth and return on investment in a thriving market. The entire building is available for lease, or spaces can be divided to suit individual tenant needs.

• CAP approach

  CAP return

  Valuation

  6%

  $286,526

  6.5%

  $264,485

  7%

  $245,594

• Comparable approach

  Method

  Valuation

  Relative Method

  $263,330

  Geo Method

  $193,728

• Alternative Use

  Use

  Valuation

  Residential

  $223,103

  Hospitality

  $204,361

  Educational

  $170,026

  Medical

  $175,874

  Retail

  $264,485

Location Insight

City

Hershey

County

Dauphin

State

Pennsylvania

Latitude

40.296

Longitude

-76.6239

CBSA code

25420

CBSA name

HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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