Investment Overview

Marcus & Millichap is pleased to offer for sale The Carlisle Antique Mall & Storage located at 164 North Hanover Street in Carlisle, PA. The property is approximately 35,000 square feet which includes 2,200 NRSF of climate-controlled storage units and 18,000 SF of space that are occupied by vendors. With some recent management improvements that has created for more automation, the Mall operates as a vendor community, where local vendors sell a wide range of antiques while also having the luxury of storing the items in a storage unit on site. The Mall has three floors and are divided up as follows: historic items are located on the first floor, mid-20th century items are located on the second floor, and a variety of vendor types on the third floor. Additionally, there is a unique section located on the ground floor that includes various music records, clothing, comics, and jewelry. This historic property was built in 1918 and has been well maintained under current ownership. The Mall has been voted “Simply the Best” Best Antiques in 2020 and 2021 by readers of Harrisburg magazine. Between the storage units and vendor spaces there are total of 195 units and or spaces that are currently 86% physically occupied by vendors. Furthermore, there is a 3,000 SF office space on the first floor that can be leased out or converted to storage. In addition to the storage units, another revenue stream utilized is an admin fee acquired through a sale in person or online. In 2021, the current owner implemented QuickBooks and Easy Storage Management Solutions in an effort to better organize the different revenue streams that the Mall brings in. The Carlisle MSA has extremely strong demographics of population, education, school districts, employment, and median household incomes. The property is located in historic downtown Carlisle and is the largest retail property in town. Every year, hundreds of thousands of people visit this busy area due to popular events such as car shows, fairs, and festivals. The Carlisle Antique Mall & Storage is an excellent investment for a buyer who is looking for a good value add opportunity. There are a lot of different options to explore with the purchase of this property that include implementing better rent collections, management, and raising rents in year one. The property can also be converted to exclusively self-storage pending approval from the township.