495 Eisenhower BlvdHarrisburg, PA 17111

Property Details for 495 Eisenhower Blvd

Year built

1987

Lot size

0.72 AC

Property size (Sq ft)

16,220 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

63-027-273

APU

63027273

Description

This 30-key Econo Lodge hotel, located at 495 Eisenhower Blvd, Harrisburg, PA 17111, presents a compelling investment opportunity. Built in 1987 and renovated in 2021, this two-story, 16,200 square foot property sits on a 0.72-acre lot (APN: 63-027-273-000-0000) and is zoned C12. The hotel boasts a prime location, offering easy access to major interstates (76, 83, and 283), connecting it to Baltimore, Philadelphia, and Pittsburgh. Its proximity to Hershey Park (less than a 15-minute drive), a major tourist attraction drawing over 3 million visitors annually, ensures consistent demand. Furthermore, the hotel benefits from its close proximity to the Penn State Health Milton S. Hershey Medical Center, Harrisburg International Airport (4 miles), and the city's numerous attractions, including the Pennsylvania State Capital and the National Civil War Museum. The hotel's strong performance, coupled with its lean operating model, positions it for exceptional cash flow generation. The asking price is $2,100,000 ($129.63/sq ft). This fee-simple, non-union, and unencumbered property offers a significant discount to replacement cost. The hotel's location near downtown Harrisburg and other key demand generators makes it an attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $2,975,041

  6.5%

  $2,746,192

  7%

  $2,550,035

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,482,300

  Geo Method

  $2,397,940

• Alternative Use

  Use

  Valuation

  Residential

  $2,998,043

  Hospitality

  $2,746,192

  Educational

  $2,284,799

  Medical

  $2,363,377

  Retail

  $3,554,132

Location Insight

City

Harrisburg

County

Dauphin

State

Pennsylvania

Latitude

40.2486

Longitude

-76.8135

CBSA code

25420

CBSA name

HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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