977 Main StPalmyra, PA 17078

Property Details for 977 Main St

Year built

1972

Lot size

9.93 AC

Property size (Sq ft)

15,728 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

16-2294119-360192-0000

APU

1622941193601920000

Description

This exceptional 15,728-square-foot property at 977 E Main St, Palmyra, PA, presents a unique investment opportunity. Situated on a 9.93-acre lot (APN #16-2294119-360192-0000), this three-story building boasts 32 units and is zoned for both Heavy Industrial and Highway Commercial uses. Built in 1972, the property offers significant redevelopment potential as a warehouse or flex space, benefiting from its location near a retail corridor and access to public utilities. The existing structure includes managers' quarters, adding to its versatility. The property's size and zoning allow for new construction possibilities, and a rail spur may be feasible. This is an ideal opportunity for investors seeking a multi-use property with substantial redevelopment potential in a prime location. The owner is retiring, presenting a compelling reason for a quick sale. This is a rare chance to acquire a large, versatile property in Lebanon County, Pennsylvania, with significant upside potential. The property's diverse zoning and existing infrastructure make it suitable for a variety of commercial and industrial uses.

• CAP approach

  CAP return

  Valuation

  6%

  $2,757,368

  6.5%

  $2,545,263

  7%

  $2,363,458

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,834,137

  Geo Method

  $2,325,204

• Alternative Use

  Use

  Valuation

  Residential

  $2,778,688

  Hospitality

  $2,545,263

  Educational

  $2,117,629

  Medical

  $2,190,457

  Retail

  $3,294,089

Location Insight

City

Palmyra

County

Lebanon

State

Pennsylvania

Latitude

40.3167

Longitude

-76.5829

CBSA code

30140

CBSA name

LEBANON, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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