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32289934
32289897

1575 S Market St, Elizabethtown, PA 17022

DZ
VA MD 665335, VA VA 0225239201
Marcus & Millichap - Washington, D.C.
DC
DC SP98374073
Marcus & Millichap - Washington, D.C.
Listed by Marcus & Millichap - Washington, D.C.
$3,300,000
55 days on market
Updated 25 days ago

Elizabethtown Center- NEW Pricing!

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 18,707
Cap Rate 7.00%
NOI $240,391
Occupancy 100%
Tenancy Multi
Brand/Tenant CVS Pharmacy, Family Dollar (+1)
Rent Bumps Yes
Lease Options Vary by Tenant
Class B
Year Built 1962
Investment Type Stabilized
Ground Lease No

Elizabethtown Retail Strip | CVS Shadow Anchor | 100% Occupancy

Marketing description

Marcus & Millichap, on behalf of Ownership, is pleased to present this 18,707 square foot neighborhood retail center located in Elizabethtown, Pennsylvania (the "Offering"). The Property is 100% leased to a quality mix of local and national tenants that are entirely complementary to this neighborhood location. This is evidenced by the Offering's average tenancy of approximately 20 years. The property is well-positioned at the center of Elizabethtown's retail corridor between two of the region's dominant supermarkets, Giant and Weis.

Constructed in 1962, the property has been owned by the same out-of-market ownership since 1996, resulting in long-standing tenant relationships. Family Dollar and Pennsylvania Wine & Spirits have anchored the property since 1997, collectively representing 48% of overall revenue and providing credit enhancement to the center. Additional tenants include a multi-unit Domino's Pizza franchise, Panda Buffet, Etown Beverage, and a local butcher and seafood market, Stone Cold Meats. With the exception of Stone Cold Meats, who joined the Offering in 2024, every tenant has renewed multiple times, underscoring the strength of the location and its positioning in the market.

The Offering does not include the neighboring corporately-owned CVS pharmacy parcel, which notably ranks in the 74th percentile chain wide with approximately 299,000 annual customer visits per Placer.ai. CVS owns the parking field in front of the Offering, and maintains the lot pursuant to a recorded cross easement declaration. The CVS parcel and the Offering equally share in CAM costs incurred.

The Offering benefits from an excellent location on South Market Street (18,201 VPD) at the center of Elizabethtown's primary retail corridor, with Giant Food Stores and Weis Markets immediately bookending the site. These two grocers represent the dominant supermarket presence in the trade area and serve as the primary drivers for the corridor. It is further supported by a dense, affluent population of 27,470 residents within three-miles with average household income of $104,113.

Listing Contacts

DZ
VA MD 665335, VA VA 0225239201
Marcus & Millichap - Washington, D.C.
DC
DC SP98374073
Marcus & Millichap - Washington, D.C.
Listed by Marcus & Millichap - Washington, D.C.

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$240,391.00
$20,032.58/mo

Valuation Metrics

0
DSCR
7.28%
Cap Rate
7.28%
ROI

Map

Zoning

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C-2 CommercialGeneral CommercialGeneral Commercial
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Last updated Apr 2, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Timothy Stephenson, Jr.
License
RMR006104
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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