500 Broadway | Absolute NNN | Corporate Guarantee |… — Sale in Hanover, PA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Hanover, PA 17331
  • Year built: 1902

Photos

500 Broadway | Absolute NNN | Corporate Guarantee |… — Sale in Hanover, PA, photo 1 of 3
500 Broadway | Absolute NNN | Corporate Guarantee |… — Sale in Hanover, PA, photo 2 of 3
500 Broadway | Absolute NNN | Corporate Guarantee |… — Sale in Hanover, PA, photo 3 of 3

Investment Figures

Cap rate
6.10%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to exclusively present 500 Broadway, a 105,565-square-foot industrial facility located on 4.22 acres in Hanover, Pennsylvania. The property is fully leased to Penn-Mar Castings, LLC under a long-term Absolute Net Lease featuring 2.00% annual rental increases, a corporate guaranty, and two five-year renewal options. This structure provides investors with a stable and predictable income stream backed by an established industrial occupant. Based on the new ownership date of November 1, 2026, the property is projected to generate Year 1 Net Operating Income (NOI) of $400,781, representing an attractive 6.10% capitalization rate. The Absolute Net Lease structure eliminates recurring landlord obligations, as the tenant is responsible for all operating and capital expenditures associated with the property, including real estate taxes, insurance, utilities, roof and structural components, HVAC systems, repairs, replacements, maintenance, environmental compliance, and day-to-day operational costs. As a result, ownership benefits from a highly passive investment profile with limited operational risk. Penn-Mar Castings has a distinguished manufacturing heritage dating back to the 1840s, with a longstanding reputation for producing high-quality castings for the United States Government, defense-related applications, and a variety of commercial and industrial customers. The company's extensive operating history, specialized manufacturing expertise, and established market presence provide a strong foundation for long-term tenancy and continued operational stability at the property. Investment Highlights: • Absolute Net Lease structure with No Landlord Responsibility • 2.00% Annual Rent Increases • Corporate Guarantee • Year 1 NOI of $400,781 • Manufacturing since the 1840s

Market Context

This retail in Hanover, PA is listed for sale. It is offered at an approximate 6.1% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 1902. Compare it against other retail listings for sale in Hanover, PA — view the full market.

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