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Office

2601 N 3rd St

2601 N 3rd St, Harrisburg, PA 17110

Listing Price: $22,000,000

Cap Rate
4.99%
Gross SF
273,520
Rentable SF
273,520
Price/Gross SF
$80.43
Lot Size
6.36 acres
Year Built
1926

Investment Overview

Marcus & Millichap is pleased to exclusively present Penn Center, located at 2601 N. 3rd Street, Harrisburg, PA 17110. The Subject Property is a 273,520 SF office campus comprised of three adjacent buildings occupying 6.36 acres in the heart of Downtown Harrisburg. The buildings were previously utilized as a hospital and have undergone significant renovations. One Penn Center is located at 2601 N. 3rd Street and is currently home to several GSA tenants, including the Pennsylvania Department of State, Pennsylvania Department of Drug & Alcohol Programs, U.S. Small Business Administration, and Fresenius Medical Care. One Penn Center is currently 42% occupied, with an additional 59,290 SF of vacant office space positioned for new prospective tenants. Two & Three Penn Centers are located at 2601 N. 3rd Street & 349 Wiconisco Street. Both buildings are currently entirely vacant, with over 103,000 SF of adaptive reuse space. Current ownership has an in-house staff of five repairs and maintenance personnel working alongside four custodians. All buildings are sprinkled and have smoke and fire detection systems monitored by Simplex-Grinnell and Pinnacle Hospital System security personnel. The campus includes nine elevators serving three buildings. The campus grounds are patrolled 24/7 by Pinnacle Heath Hospitals’ security personnel and the Pennsylvania Capitol Police. The property is currently located in the Institutional Zoning District, which is intended to facilitate and protect institutional development, including, but not limited to, government facilities, educational institutions, and hospitals. The Penn Center Campus includes 445 parking spaces with a private garage and several other lots. In addition to the on-site parking, ownership currently leases an additional 497 parking spaces from the neighboring Zembo Mosque and Scottish Rite Cathedral.

Investment Highlights

  • Value-Add Office/Adaptive Re-Use Opportunity
  • Over 273,520 SF in Downtown Harrisburg, PA
  • Favorable Zoning – Institutional Zoning District

Exclusively Listed By

Financing By

Listing Price: $22,000,000

Cap Rate
4.99%
Gross SF
273,520
Rentable SF
273,520
Price/Gross SF
$80.43
Lot Size
6.36 acres
Year Built
1926

Investment Highlights

  • Value-Add Office/Adaptive Re-Use Opportunity
  • Over 273,520 SF in Downtown Harrisburg, PA
  • Favorable Zoning – Institutional Zoning District

Investment Overview

Marcus & Millichap is pleased to exclusively present Penn Center, located at 2601 N. 3rd Street, Harrisburg, PA 17110. The Subject Property is a 273,520 SF office campus comprised of three adjacent buildings occupying 6.36 acres in the heart of Downtown Harrisburg. The buildings were previously utilized as a hospital and have undergone significant renovations. One Penn Center is located at 2601 N. 3rd Street and is currently home to several GSA tenants, including the Pennsylvania Department of State, Pennsylvania Department of Drug & Alcohol Programs, U.S. Small Business Administration, and Fresenius Medical Care. One Penn Center is currently 42% occupied, with an additional 59,290 SF of vacant office space positioned for new prospective tenants. Two & Three Penn Centers are located at 2601 N. 3rd Street & 349 Wiconisco Street. Both buildings are currently entirely vacant, with over 103,000 SF of adaptive reuse space. Current ownership has an in-house staff of five repairs and maintenance personnel working alongside four custodians. All buildings are sprinkled and have smoke and fire detection systems monitored by Simplex-Grinnell and Pinnacle Hospital System security personnel. The campus includes nine elevators serving three buildings. The campus grounds are patrolled 24/7 by Pinnacle Heath Hospitals’ security personnel and the Pennsylvania Capitol Police. The property is currently located in the Institutional Zoning District, which is intended to facilitate and protect institutional development, including, but not limited to, government facilities, educational institutions, and hospitals. The Penn Center Campus includes 445 parking spaces with a private garage and several other lots. In addition to the on-site parking, ownership currently leases an additional 497 parking spaces from the neighboring Zembo Mosque and Scottish Rite Cathedral.

Exclusively Listed By

Financing By

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