1104 Herr StHarrisburg, PA 17103

For Sale
$799,000

High-yield, multi-tenant property in Harrisburg.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional income-producing commercial property, located at 1104 Herr St, Harrisburg, PA 17103, presents a compelling investment opportunity. The 23,892 square foot building sits on a 0.49-acre lot and boasts a strong 8.76% capitalization rate, generating a net operating income (NOI) of $69,955 in 2023. Currently 100% occupied by three tenants under a modified lease agreement, the property offers diverse income streams. The building features a mix of retail and industrial spaces, perfectly suited for a variety of uses. The industrial zoning allows for flexibility, while the existing tenants include an auto repair shop (approximately 18,692 square feet), a hair salon (approximately 200 square feet), and an electronics store (approximately 5,000 square feet). The property includes one dock-high door and one drive-in door, along with two off-street parking areas, one at the rear and one across the alley, currently utilized by tenants. The building, constructed in 1900, is a two-story structure with one building. The property's APN is 07-073-045. The owner of the adjacent parking lots is open to offers. This turnkey investment offers significant potential for both passive income and future appreciation. The property's strong occupancy rate and consistent cash flow make it an attractive option for discerning investors. The flexible lease terms provide opportunities for long-term growth and potential value enhancement.

Highlights

  • Exceptional 23,892 SF income-producing property in Harrisburg, PA.
  • 8.76% capitalization rate with $69,955 NOI (2023).
  • 100% occupied by three tenants: auto repair shop (18,692 SF), hair salon (200 SF), and electronics store (5,000 SF).
  • Industrial zoning on a 0.49-acre lot with one dock-high and one drive-in door, plus two off-street parking areas.

Property Details for 1104 Herr St

Property type
Lifestyle centers, Power centers
Square Feet
23,892 SF
Year Built
1900
Buildings
1
Stories
2
Lot Size (sq. ft)
21,344 SF
Units
3

Location Insight

City
Harrisburg
County
Dauphin
State
Pennsylvania
Latitude
40.272686134096
Longitude
-76.876651546256
1104 Herr St, Harrisburg, Pennsylvania

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1104 Herr St
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