1 Mill RdNewville, PA 17241

  • Mixed-use properties
  • 21,255 SF
For Lease
$10/SF/YR View listing

Property Details for 1 Mill Rd

Lot size
2.04 AC
Property size (Sq ft)
21,255 SF
Property type
Mixed-use properties
Property subtype
Other investment properties
APN
46-07-0481-041
APU
46070481041

Description

This exceptional retail property, located at 1 Mill Road in Newville, Pennsylvania, presents a compelling investment opportunity. The single-story, 14,855 square foot shopping center sits on a 2.04-acre lot and boasts a Class B rating. Built in 2013, the property features 49 total parking spaces and is zoned for commercial use. Currently, there are 3,128 square feet of vacant space available, divisible into units ranging from a minimum of 1,365 square feet to a maximum contiguous space of 1,763 square feet. The property is situated in the West Pennsboro Township submarket of Cumberland County and benefits from its location within a thriving commercial area. The property's strategic location ensures high visibility and accessibility, attracting significant foot traffic. This is an ideal opportunity for businesses seeking a well-established location with ample space and parking. The property's existing infrastructure and convenient location provide a solid foundation for immediate occupancy and future growth. The property's zoning allows for a variety of retail uses, making it a versatile option for prospective tenants. This is a rare opportunity to secure a prime retail space in a desirable location. The property's size, location, and existing infrastructure make it an attractive investment for businesses of all sizes. The 17241 zip code offers easy access to major transportation routes, further enhancing its appeal.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $4,534,891
    6.5%
    $4,186,053
    7%
    $3,887,049
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,170,925
    Geo Method
    $1,337,152
  • Alternative Use

    Use
    Valuation
    Residential
    $5,190,706
    Hospitality
    $4,754,658
    Educational
    $3,955,820
    Medical
    $4,091,867
    Retail
    $6,153,498
1 Mill Rd, Newville, Pennsylvania

Location Insight

City
Newville
County
Cumberland
State
Pennsylvania
Latitude
40.1783
Longitude
-77.3894
CBSA code
25420
CBSA name
HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$13,459
$81,600
$614,900
$696,500
-
$81,600
$614,900
$696,500

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