424 Gateway AveChambersburg, PA 17201

Property Details for 424 Gateway Ave

Lot size

6.62 AC

Property type

Investment properties

Property subtype

Live-work space

APN

03-1C-167

APU

031C167

Description

Gateway Center, located at 424 Gateway Avenue in Chambersburg, Pennsylvania (zip code 17201), is a single-story, 49,882 square foot retail center built in 2007. Situated on a 6.62-acre lot, this property boasts excellent visibility from I-81, a key advantage in a thriving retail corridor. The building features four convenient access points off Gateway Avenue and Walker Road, providing easy access to Route 30. Its strategic location places it in close proximity to major retailers including Target, Giant, PetSmart, Kohl's, and Starbucks, ensuring high traffic and strong consumer presence. The property is zoned for Distributive Commercial Highway use within Franklin County and offers 3-phase, 240-volt, 250-amp power. This presents a significant opportunity for businesses seeking a prime location in a rapidly growing area with robust residential, retail, and distribution demand. The single-tenancy building offers a substantial space for a variety of retail uses. This property is ideal for businesses looking to capitalize on the strong economic activity and high consumer traffic in this established retail hub.

• CAP approach

  CAP return

  Valuation

  6%

  $69,372,500

  6.5%

  $64,036,200

  7%

  $59,462,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $30,042,000

  Geo Method

  $58,809,200

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $122,308,000

  Retail / Commercial

  $63,582,300

  Hospitality / Lodging

  $47,867,300

  Office

  $64,364,600

  Institutional / Educational

  $66,815,000

  Residential Income

  $78,173,600

  Multifamily

  $89,984,500

  Automotive / Energy

  $57,270,000

  Parking / Income-Based Land

  $19,090,800

  Restaurant / Food Service

  $34,758,100

  Healthcare / Senior Housing

  $64,970,000

Location Insight

City

Chambersburg

County

Franklin

State

Pennsylvania

Latitude

39.9357

Longitude

-77.6333

CBSA code

16540

CBSA name

CHAMBERSBURG, PA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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