70 King StChambersburg, PA 17201

Property Details for 70 King St

Lot size

0.32 AC

Property type

Office properties

Property subtype

Office buildings

APN

05-1C49-41

APU

051C4941

Description

This fee-simple investment opportunity presents a 7,800 square foot, single-tenant office building located at 70 W King St, Chambersburg, PA 17201. The property, built in 1900 and extensively renovated in 2023 (over $600,000 in improvements), is currently 100% occupied by a Berkshire Hathaway HomeServices franchisee under a triple-net (NNN) lease. The lease commenced March 1, 2022, and has a remaining term of approximately 7.3 years, extending to March 1, 2032, with a one-year option to renew. The lease includes 2% annual rent escalations, providing predictable income growth. The building is classified as Class B and offers a strong 8.00% cap rate based on a Net Operating Income (NOI) of $129,842. The tenant, a well-established franchise with over 35 locations, recently exercised a five-year renewal option early, demonstrating a significant commitment to the property. This investment offers a stable, passive income stream with long-term occupancy assurance. The property sits on a 0.32-acre lot and is categorized as a Creative, Executive, and Traditional Office space. The asking price is $1,623,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,973,975

  6.5%

  $2,745,208

  7%

  $2,549,122

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,423,690

  Geo Method

  $2,786,964

• Alternative Use

  Use

  Valuation

  Residential

  $3,404,058

  Hospitality

  $3,118,099

  Educational

  $2,594,222

  Medical

  $2,683,441

  Retail

  $4,035,456

Location Insight

City

Chambersburg

County

Franklin

State

Pennsylvania

Latitude

39.939

Longitude

-77.6625

CBSA code

16540

CBSA name

CHAMBERSBURG, PA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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