Shopping Community

Scottsdale Plaza

3350-3400 Paxton St, Harrisburg, PA 17111

Listing Price: $6,950,000

Cap Rate
7.34%
Gross SF
36,418
Rentable SF
36,418
Price/Gross SF
$190.84
Lot Size
5.07 acres
Year Built
1963

Investment Overview

Marcus and Millichap is proud to exclusively offer for sale: Scottsdale Plaza, Located at: 3350 Paxton Street, Harrisburg, PA. 17111
The subject property consists of 38,149 SF of net leasable space, and 40,654 SF of gross leasable area. There are current twelve (12) (Local, Regional, and National) operating tenants located in thirteen (13) space with a total of fourteen (14) occupied suites. They is currently only one (1) 3000 SF vacancy which is approximately 7.8% of the net leasable area.

The total asset includes three individual free standing buildings. The largest multi-tenant building anchored by Mattress Warehouse and the Melting Pot totals - 21,603 SF and approximately 25,000 of GLA. The second multi-tenant building anchored by Cafe' Fresco totals - 14,546SF of net leasable space, and approximately 15,000 of GLA.
The third single tenant building is anchored solely by Neato Burrito totaling - 2,000 SF of net leasable space and GLA. ( Note - Neato Burrito is arguably the best Burrito shop in South Central Pennsylvania)

The offering also includes a brand new (Interstate Highway I-83) billboard lease starting in late 2020 with a base term of 24 year. (I-83 Totals - 98,143 VPD)
One of the main and very attractive features of Scottsdale Plaza is its extremely large (back lit) Pylon Sign - Making it a true Landmark of the Paxton Street Corridor. There is a massive expansion of the I-83 corridor through Harrisburg which will effect the offering in a very positive way. The Paxton St exit will cause the neighboring retail space to be displaced and will then place this property at the hard corner of the I-83 interchange and Paxton St.

The subject property sites on approximately 5.04 Acres and is ideally location on the main retail corridor of Paxton Street (S.E. Harrisburg MSA) w/ approximately 15,000 vehicles passing daily. And is located directly across the street from Bass Pro Shop & Harrisburg East Mall - (Harrisburg's Largest Mall Complex) Which attracts Tens of Thousands of visitors annually. This area has seen tremendous growth in the past several years with Neighboring tenants like - Starbucks, Chipotle, Sheetz, the Great Escape movie complex & and many more. The subject property, as well as the local submarket has seen substantial increases in Market Rents, Destination Traveler, and Local Population Demographics. Please reach out to your preferred Marcus and Millichap agent for additional information.

Investment Highlights

  • Highly Visible Retail Plaza With I-83 Hard Intersection At Exit Coming Soon
  • Ideally Located on Paxton Street - Directly Across from The Bass Pro Shop
  • & Harrisburg's Largest Mall - (Harrisburg East Mall)
  • Substantial Growth Market
  • 93% Occupied w/ Value-Add Upside thru Leasing and Rent Increases
  • New Billboard Lease (Under Construction)

Exclusively Listed By

Financing By

  • Stephen Arrivello

    Director

    Direct:

    Email Stephen

    Philadelphia, PA

Listing Price: $6,950,000

Cap Rate
7.34%
Gross SF
36,418
Rentable SF
36,418
Price/Gross SF
$190.84
Lot Size
5.07 acres
Year Built
1963

Investment Highlights

  • Highly Visible Retail Plaza With I-83 Hard Intersection At Exit Coming Soon
  • Ideally Located on Paxton Street - Directly Across from The Bass Pro Shop
  • & Harrisburg's Largest Mall - (Harrisburg East Mall)
  • Substantial Growth Market
  • 93% Occupied w/ Value-Add Upside thru Leasing and Rent Increases
  • New Billboard Lease (Under Construction)

Investment Overview

Marcus and Millichap is proud to exclusively offer for sale: Scottsdale Plaza, Located at: 3350 Paxton Street, Harrisburg, PA. 17111
The subject property consists of 38,149 SF of net leasable space, and 40,654 SF of gross leasable area. There are current twelve (12) (Local, Regional, and National) operating tenants located in thirteen (13) space with a total of fourteen (14) occupied suites. They is currently only one (1) 3000 SF vacancy which is approximately 7.8% of the net leasable area.

The total asset includes three individual free standing buildings. The largest multi-tenant building anchored by Mattress Warehouse and the Melting Pot totals - 21,603 SF and approximately 25,000 of GLA. The second multi-tenant building anchored by Cafe' Fresco totals - 14,546SF of net leasable space, and approximately 15,000 of GLA.
The third single tenant building is anchored solely by Neato Burrito totaling - 2,000 SF of net leasable space and GLA. ( Note - Neato Burrito is arguably the best Burrito shop in South Central Pennsylvania)

The offering also includes a brand new (Interstate Highway I-83) billboard lease starting in late 2020 with a base term of 24 year. (I-83 Totals - 98,143 VPD)
One of the main and very attractive features of Scottsdale Plaza is its extremely large (back lit) Pylon Sign - Making it a true Landmark of the Paxton Street Corridor. There is a massive expansion of the I-83 corridor through Harrisburg which will effect the offering in a very positive way. The Paxton St exit will cause the neighboring retail space to be displaced and will then place this property at the hard corner of the I-83 interchange and Paxton St.

The subject property sites on approximately 5.04 Acres and is ideally location on the main retail corridor of Paxton Street (S.E. Harrisburg MSA) w/ approximately 15,000 vehicles passing daily. And is located directly across the street from Bass Pro Shop & Harrisburg East Mall - (Harrisburg's Largest Mall Complex) Which attracts Tens of Thousands of visitors annually. This area has seen tremendous growth in the past several years with Neighboring tenants like - Starbucks, Chipotle, Sheetz, the Great Escape movie complex & and many more. The subject property, as well as the local submarket has seen substantial increases in Market Rents, Destination Traveler, and Local Population Demographics. Please reach out to your preferred Marcus and Millichap agent for additional information.

Exclusively Listed By

Financing By

  • Stephen Arrivello

    Director

    Direct:

    Email Stephen

    Philadelphia, PA

MM Texture Background
MM Textured Background Lower