Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    715 Mifflin St Lancaster, PA 17602-3723

    • Auto shops
    • 2,288 SF
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    Aug 25, 2023
    $100,000
    Value Estimations
    $135,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2612922
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • J & J Auto Detail / Car Detailing Service
    • J and C Auto Repair / Auto Repair Shop

    Property Details for 715 Mifflin St

    Year built
    1963
    Construction
    FRAME
    Lot size
    0.07 lot acres
    Property size
    2,288 SF
    Zone code
    R4
    Property type
    Auto shops
    APN
    337-10311-0-0000
    APU
    3371031100000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $130,000
      ML approach
      $195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $198,000
      Market price range: $199k - $501k
      AI Estimate
      $176,000
      Market price range: $176k - $440k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.2906
    Latitude
    40.0392
    CBSA code
    29540
    CBSA name
    LANCASTER, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $3,415
    $32,300
    $54,000
    $86,300
    -
    $32,300
    $54,000
    $86,300

    Comparable in this City

    • Value Estimation
      $350,000
      0.05 Acres

      315 Cir Ave

      AUTO REPAIR, GARAGE • 0.05 Acres
      315 Cir Ave, Lancaster, PA 17602
      View Details
    • Value Estimation
      $350,000
      0.16 Acres

      321 Cir Ave

      AUTO REPAIR, GARAGE • 0.16 Acres
      321 Cir Ave, Lancaster, PA 17602
      View Details
    • Value Estimation
      $225,000
      2,978 SF

      2372 Rockvale Rd

      AUTO REPAIR, GARAGE • 2,978 SF
      2372 Rockvale Rd, Lancaster, PA 17602-1436
      View Details
    • Value Estimation
      $665,000
      6,484 SF

      225 Park Ave

      AUTO REPAIR, GARAGE • 6,484 SF
      225 Park Ave, Lancaster, PA 17602-2304
      View Details
    • Value Estimation
      $490,000
      6,890 SF

      619 Ross St

      AUTO REPAIR, GARAGE • 6,890 SF
      619 Ross St, Lancaster, PA 17602-2148
      View Details
    • Value Estimation
      $365,000
      1,944 SF

      40 Pitney Rd

      AUTO REPAIR, GARAGE • 1,944 SF
      40 Pitney Rd, Lancaster, PA 17602-2614
      View Details

    Similar Nearby for Sale

    • $795,000
      3,968 SF

      Auto Shop with Repair Bays

      3,968 SF auto shop with six repair bays.
      326 Beaver Valley Pike, Lancaster, PA 17602
      View Details
    • Contact for pricing
      33,000 SF

      Retail Property on Route 30

      33,000 SF retail building on 5.6 acres for sale.
      2080 Lincoln Hwy E, Lancaster, PA 17602
      View Details
    • Contact for pricing
      15,387 SF

      Mixed-Use Retail Building on Route 30

      15,387 SF building with mixed-use/retail zoning on high-traffic Route 30.
      2191 Lincoln Hwy East, Lancaster, PA 17602
      View Details
    • $870,000
      3,542 SF

      Lancaster City Restaurant and Bar

      Free-standing restaurant/bar with rental rooms and liquor license.
      1002 N Duke St, Lancaster, PA 17602
      View Details
    • Contact for pricing
      38,807 SF

      Retail Space Near Tourist Attractions

      Retail spaces available in high-traffic shopping center near tourist spots.
      2405 Covered Bridge Dr, Lancaster, PA 17602
      View Details
    • $1,500,000
      2,240 SF

      Lancaster Bank Building for Sale

      Prime Lancaster Retail Space, High Traffic
      1950 Old Philadelphia Pike, Lancaster, PA 17602
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      2,980 SF

      Premier Retail Shopping Center Space

      Retail space in high-traffic Lancaster shopping center.
      2495 Lincoln Hwy E, Lancaster, PA 17602
      View Details
    • Contact for pricing
      1,980 SF

      Lancaster Retail Space Available

      Retail space available for rent in Lancaster, Pennsylvania.
      10-26 E Mcgovern Ave, Lancaster, PA 17602
      View Details
    • $16 SF/Yr
      2,525 SF

      Premier Retail Space on Lincoln Highway

      Retail space in high-traffic Lancaster shopping center.
      2481 Lincoln Hwy E, Lancaster, PA 17602
      View Details
    • Contact for pricing
      10,000 SF

      Lancaster Retail Shopping Center Space

      Retail space available in a busy Lancaster shopping center.
      21 Plymouth Ave, Lancaster, PA 17602
      View Details
    • New
      $24,200
      6,534 SF

      Prime Commercial Space Near Downtown

      Light-filled space near downtown Lancaster suitable for various businesses.
      537 Church St, Lancaster, PA 17602
      View Details
    • Contact for pricing
      319,675 SF

      Rockvale Retail Center Investment

      Lancaster, PA Outlet Center Opportunity
      35 Willowdale Dr, Lancaster, PA 17602
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    715 Mifflin St
    Lancaster, PA 17602-3723
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.