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25530899
25530900

305 N Front St, Harrisburg, PA 17101

Landmark Commercial Realty
MC
PA RS300532
Landmark Commercial Realty
Landmark Commercial Realty
Listed by Landmark Commercial Realty
$14,950,000
310 days on market
Updated 34 days ago

305 N Front St - Fully Leased Single Tenant Investment

Details
APN 04-038-319, 04-038-320, 04-038-321**
Property Type Office
Sub Type Traditional Office
Square Footage 55,000
Cap Rate 7.65%
NOI $1,143,333
Occupancy 100%
Tenancy Single
Lease Type Gross
Lease Expiration 08/31/2035
Rent Bumps Yes
Year Built 1989
Year Renovated 2021
Buildings 1
Acreage 1.200
Parking Spaces 108 spaces
Parking Per SqFt 1.96
Investment Type Core+
Tenant Credit Credit Rated
Lease Commencement 09/01/2025
Occupancy Date 09/01/2019

Office | 7.65% CAP | 55,000 SqFt | Covered Parking Space Condos

Marketing description

This exceptional +/- 55,000-square-foot single-tenant professional office property presents a rare investment opportunity in the heart of Harrisburg’s Central Business District. Fully leased to an investment grade credit-rated tenant (Moody’s: A2), the offering includes a long term 10-year lease extension to be executed at settlement, ensuring long-term stability as it serves as the Tenant’s regional administrative headquarters through August 31, 2025. The six-story building consists of three lower levels of covered parking with each space being individually parceled and three stories of office condos. The offering includes the three fully leased office condominiums and 108 of the parking space condos that are leased and generate additional revenue.

The one of a kind building was thoughtfully designed to complement Harrisburg’s historic district, it features brownstone-colored precast concrete with sandblasted accent panels, creating a timeless aesthetic that integrates seamlessly with its surroundings. Positioned along the prestigious riverfront, the property offers open terraces on the upper office levels, providing stunning views of the Susquehanna River, Riverfront Park, FNB Field, and City Island. The location is unparalleled, within walking distance to the Dauphin County Courthouse, the Pennsylvania State Capitol Complex, the new Federal Courthouse, UPMC Harrisburg Hospital Campus, Harrisburg University, Whitaker Arts Center, and the Strawberry Square mixed-use complex. Additionally, the property offers exceptional regional accessibility with easy connections to I-83, the Pennsylvania Turnpike (I-76), US-22, US-322, US-11, US-15, and I-81. This prestigious asset combines a high-profile location, credit tenancy, and secure covered parking, making it an outstanding addition to any investment portfolio.

Investment highlights

  • Single tenant +/- 55,000 SF professional office property with rare on-site covered parking

  • New long term 10 year lease extension with investment grade credit rated tenant

  • The Offering includes revenue from the fully leased 3 story office condos in the building and 108 covered parking space condos located on the first 3 stories of the building

  • Prestigious riverfront location with unique design that offers open terraces on upper office levels that overlook Susquehanna River, Riverfront Park, FNB Field, and City Island

  • Excellent location in the heart of Harrisburg’s Central Business District within walking distance to Dauphin County Courthouse, PA State Capitol Complex, new Federal Courthouse, Harrisburg University, Whitaker Arts Center, and Strawberry Square mixed use complex

  • Easy access to: I-83, I-76 PA Turnpike, I-81, US-22, US-322, US-11, US-15

Listing Contacts

Landmark Commercial Realty
MC
PA RS300532
Landmark Commercial Realty
Landmark Commercial Realty
Listed by Landmark Commercial Realty

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$1,143,333.00
$95,277.75/mo

Valuation Metrics

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DSCR
7.65%
Cap Rate
7.65%
ROI

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