1 Airport RdShippensburg, PA 17257

Property Details for 1 Airport Rd

Lot size

1.77 AC

Property type

Grocery and convenience stores

APN

36-12-0320-016

APU

36120320016

Description

This exceptional Class A multifamily investment opportunity presents 48 units across four three-story buildings situated at 1 Airport Rd, Shippensburg, PA 17257. The property, known as Shippensburg Commons, is zoned for multi-family use and offers a compelling investment prospect in Cumberland County. The existing development comprises a well-maintained portfolio of single-family rental units, providing immediate cash flow. An attractive feature is the availability of a retail pad site, presenting significant potential for added revenue streams or strategic development. Furthermore, approved plans exist for the construction of up to four buildings, allowing for future expansion and increased profitability. The property's location in Shippensburg, Pennsylvania, offers convenient access to local amenities and transportation networks. This turnkey investment is ideal for experienced investors seeking a stable, high-performing asset with significant upside potential. The 48-unit portfolio provides a substantial scale for efficient management and strong returns. The approved plans for additional buildings represent a unique opportunity to further enhance the property's value and rental income. This is a rare chance to acquire a well-established multifamily property with significant expansion possibilities in a desirable Pennsylvania location. The combination of existing income and future development potential makes this a truly exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $24,181,492

  6.5%

  $22,321,376

  7%

  $20,726,992

• Comparable approach

  Method

  Valuation

  Relative Method

  $19,844,686

  Geo Method

  $12,223,068

• Alternative Use

  Use

  Valuation

  Residential

  $18,828,916

  Hospitality

  $17,247,186

  Educational

  $14,349,456

  Medical

  $14,842,956

  Retail

  $22,321,376

Location Insight

City

Shippensburg

County

Cumberland

State

Pennsylvania

Latitude

40.0585

Longitude

-77.4965

CBSA code

25420

CBSA name

HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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