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494 E King St 2,026 SF 100% Leased Office Building Shippensburg, PA 17257 $475,000 ($234.45/SF) 6.69% Cap Rate
INVESTMENT HIGHLIGHTS
- Prime location with excellent visibility and multiple access points from King Street, Richwalter, and rear alley.
- Generous .49-acre lot offering ample parking for tenants and visitors.
- Landlord-friendly utility structure with predictable expenses.
- Fully leased investment with strong income stream.
- Well-maintained property with stable tenancy and attractive curb appeal.
EXECUTIVE SUMMARY
Excellent location for this well maintained commercial property. Features fully rented units. Commercial office leased at $1,750/mo through October, 2027. The 1 BR rental is on month to month lease and rents for $900/mo. Exceptional commercial lot with .49 acre featuring ample parking, visibility and an ingress/egress, on King St, Richwalter, and the rear alley. Landlord pays following utilities: Average Elec $150-$200/mo. Average gas: $125/mo. W/S/T : $230-$250/qt. Don't pass up this great investment opportunity! .
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
2,026 SF
Building Class
C
Year Built/Renovated
1930/2022
Price
$475,000
Price Per SF
$234.45
Cap Rate
6.69%
NOI
$31,800
Percent Leased
100%
Building Height
2 Stories
Typical Floor Size
1,013 SF
Building FAR
0.11
Lot Size
0.41 AC
Zoning
C1 - Commercial
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PROPERTY TAXES
| Parcel Number | 32-33-1869-101 | Improvements Assessment | $46,400 |
| Land Assessment | $63,600 | Total Assessment | $110,000 |
PROPERTY TAXES
Parcel Number
32-33-1869-101
Land Assessment
$63,600
Improvements Assessment
$46,400
Total Assessment
$110,000
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494 E King St
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