1021 Cumberland StLebanon, PA 17042

Property Details for 1021 Cumberland St

Year built

1950

Lot size

0.41 AC

Property size (Sq ft)

7,702 SF

Property type

Investment properties

Property subtype

Live-work space

APN

03-2336824-369220-0000

APU

323368243692200000

Description

This 6,686 square foot freestanding building presents a unique opportunity in Lebanon, Pennsylvania's Central Business District. Located on Cumberland Street, this property boasts excellent visibility and accessibility. The building's flexible design caters to a variety of uses, encompassing retail, office, and industrial needs. The interior features 15-foot ceilings throughout, providing ample vertical space, and includes two 14-foot high dock doors for convenient loading and unloading. The 0.41-acre lot offers ample off-street parking. The Central Business District zoning allows for a wide range of permitted uses, including bakeries, restaurants, microbreweries, distilleries, convenience stores, contractor's offices, retail, office, and medical facilities, among others. The property also includes attached storage units, offering potential for additional income streams. Currently vacant, this building is priced at $350,000, with a price per square foot of $52.35. This is an ideal owner-occupant facility with significant potential for growth and profitability. The property is situated on Route 422, offering easy access to major transportation routes.

• CAP approach

  CAP return

  Valuation

  6%

  $1,188,804

  6.5%

  $1,097,357

  7%

  $1,018,975

• Comparable approach

  Method

  Valuation

  Relative Method

  $590,586

  Geo Method

  $484,533

• Alternative Use

  Use

  Valuation

  Residential

  $1,360,723

  Hospitality

  $1,246,415

  Educational

  $1,037,003

  Medical

  $1,072,667

  Retail

  $1,613,115

Location Insight

City

Lebanon

County

Lebanon

State

Pennsylvania

Latitude

40.3393

Longitude

-76.4287

CBSA code

30140

CBSA name

LEBANON, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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