New year, new real estate market.
Kind of.
Interest rates remain high – the highest since July – and inventory has bottlenecked the home buyer market.
At the same time, commercial real estate giant CBRE is cautiously optimistic about 2025, and J.P. Morgan’s analysts say that retail and industrial markets remain strong.
But how does that look here in Lebanon County? Here’s a snapshot look at six notable properties on the market right now, all of which we’ll be watching for developments.
Majik Rental Building – $2,095,000
701 Cumberland St., Lebanon PA 17042 (Lebanon city)
Listed by U.S. Commercial Reality, this 19,547-square-foot building next to Lebanon City Hall has a few businesses on the first floor, the largest of which is Majik, and 11 individual offices and a shared conference room and kitchenette on the second floor. According to a property brochure (PDF), the half-acre property could make $177,676 annually if three current vacancies are filled and the building is fully rented.
Mystery Bar/Restaurant – $1,200,000
Address not disclosed (Lebanon city)
Berkshire Hathaway HomeServices Homesale Realty has a mystery property available. According to available details on the listing, this “turnkey Lebanon County restaurant/bar” sits on a 0.26-acre corner lot and enjoys a “brand with a loyal customer base and a positive reputation in the community for over 100 years.” The listing says that the restaurant was recently renovated and offers a chance for someone to enter the restaurant and bar industry with “fully operational, profitable business from day one.” The listing says that further details are available upon signing of a non-disclosure agreement.
Simon S. Kettering & Sons Inc. – $1,200,000
1599 Cumberland St., Lebanon, PA 17042 (Lebanon city)
Listed by Howard Hanna Krall Real Estate, this 11,694-square-foot garage sitting on a one-acre parcel was built in 1941 and served as the home of tire dealer Simon S. Kettering & Sons Inc. since then. According to the listing, the property’s general commercial zoning opens it up for a long list of approved uses, “many of which have significant potential to be a good fit for the next chapter of ownership.”
North Cornwall equestrian estate – $1,800,000
1585 Colebrook Road, Lebanon, PA 17042 (North Cornwall Township)
There once was a time when Lebanon could call Christian Pulisic a hometown sensation. In 2018, the Hershey-born international soccer star acquired the 12.34-acre estate through an LLC for $939,000. The Pulisic family already had ties to Lebanon County; his father, Mark Pulisic, is a former Lebanon Valley College head soccer coach (1993-2005). The property, which when purchased already had equestrian facilities in addition to the 6,611-square-foot mansion, was improved under Pulisic ownership to include a “meticulously designed” indoor riding arena that also has 10 stalls.
“This property is a rare find, combining luxury living, top-notch training facilities with picturesque surroundings, making it an ideal choice for an equestrian enthusiast of any discipline,” reads the listing. The property was first listed for sale in September 2021 at $2,200,000. It was pulled from the market a year later. The property was relisted at the same price in June 2024 and then the price was reduced by $400,000 in December. Realty ONE Group Unlimited has the listing.
The Franklin House – $799,000
101 N. Market St., Schaefferstown, PA 17088 (Heidelberg Township)
Billed as a “popular, well known and established turn key restaurant,” the listing for the former Franklin House in Schaefferstown does not mention its abrupt closure last year. The 8,200-square-foot stone building, constructed in 1745, sits on a 0.35-acre lot, where it has served as a tavern for well more than a century. “The age of this unique building and its excellent condition make this a must see,” reads the listing. The listing by RE/MAX of Reading says that the sale will include the liquor license, all restaurant equipment, inventory, and goodwill.
The Lebanon Merchandiser Building – $1,595,000
100 E. Cumberland St., Lebanon, PA 17042 (Lebanon City)
It’s been a bit more than a year since the publishers of the Lebanon Merchandiser decided to sell, and then closed, the business. The Cumberland Street property, built in 1965, was originally listed in December 2023 for $1,850,000, and then reduced to $1,695,000 in April 2024 and again in December 2024 to its current listing price of $1,595,000. The sprawling 26,000-square-foot property on 1.38-acres in Lebanon city is “a developer’s dream,” according to the listing, “with potential for a wide variety of uses in addition to the current manufacturing use including multifamily conversion, retail, financial and institutional uses and much more.”
Read More: The Merchandisers are for sale
Did we miss a property you think is notable? Let us know in the comments.
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