711 Elm AveHanover, PA 17331

Property Details for 711 Elm Ave

Lot size

0.64 AC

Property type

Retail properties

Property subtype

Turn key restaurants

APN

08 L14-0007---000

APU

08L140007000

Description

This exceptional 5,195 square foot commercial property in Hanover, Pennsylvania, presents a compelling investment opportunity. Located at 711 W Elm Avenue, this versatile space sits on a sizable 0.64-acre lot, providing extensive parking capabilities. The paved lot comfortably accommodates two tractor-trailers, eleven cars, and two additional spaces within the building itself, ensuring convenient access for employees and clients. A pleasant picnic area adjacent to the parking lot adds a unique amenity. The building itself boasts a substantial rear area measuring 34 feet wide by 68 feet long, featuring a generous 14-foot ceiling height, perfect for storage or various commercial applications. Two overhead doors, measuring 10' x 10' and 10' x 12', facilitate easy loading and unloading. The property is equipped with a robust 200-amp electric service, with the added benefit of 3-phase power readily available at the Elm Street pole. Two bathrooms are conveniently located within the building. Zoned Village Commercial (VC), this property offers a wide array of permitted uses, details of which can be found in the MLS listing. This prime location and versatile space make it an attractive option for a variety of businesses seeking a well-equipped and conveniently located commercial property in Hanover, PA. The asking price is $575,000.

• CAP approach

  CAP return

  Valuation

  6%

  $8,743,487

  6.5%

  $8,070,912

  7%

  $7,494,418

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,175,395

  Geo Method

  $4,419,588

• Alternative Use

  Use

  Valuation

  Residential

  $6,808,116

  Hospitality

  $6,236,198

  Educational

  $5,188,443

  Medical

  $5,366,882

  Retail

  $8,070,912

Location Insight

City

Hanover

County

Adams

State

Pennsylvania

Latitude

39.8089

Longitude

-77.0013

CBSA code

23900

CBSA name

GETTYSBURG, PA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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