3701 Walnut StHarrisburg, PA 17109

Property Details for 3701 Walnut St

Year built

1920

Construction

FRAME

Lot size

0.20 AC

Property size (Sq ft)

2,840 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

62-034-064

APU

62034064

Description

This 2,300 square foot mixed-use building at 3701 Walnut Street in Harrisburg, Pennsylvania, presents a unique investment opportunity. Built in 1920, this two-story Class B property sits on a 0.2-acre lot and offers eight parking spaces. The building is zoned MU-1 Mixed Use, allowing for a blend of commercial and residential uses. The first floor, previously an optometrist's office, is fully equipped with exam rooms, including plumbing and sinks, ready for immediate occupancy. The second floor features a spacious apartment, perfect for owner occupancy or rental income generation, adding significant value to the property. The property boasts excellent visibility and convenient access to major routes, situated along Walnut Street at the entrance to the Jonestown Road business district. The building is in turnkey condition with minimal deferred maintenance. A garage on the property is currently used for storage, not parking. The asking price is $289,900, translating to $126.04 per square foot. This property offers immediate functionality and long-term financial benefits for a savvy investor.

• CAP approach

  CAP return

  Valuation

  6%

  $458,612

  6.5%

  $423,335

  7%

  $393,096

• Comparable approach

  Method

  Valuation

  Relative Method

  $259,457

  Geo Method

  $178,664

• Alternative Use

  Use

  Valuation

  Residential

  $524,935

  Hospitality

  $480,838

  Educational

  $400,051

  Medical

  $413,810

  Retail

  $622,302

Location Insight

City

Harrisburg

County

Dauphin

State

Pennsylvania

Latitude

40.2886

Longitude

-76.836

CBSA code

25420

CBSA name

HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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