Five-unit building, prime location, high ROI potential.
Property size:
6,565 SF
Description
Added:
Feb 3, 2025
Days on Market:
337
This exceptional mixed-use property at 230-232 N Duke Street in Lancaster, PA, presents a unique investment opportunity. The 6,565 square foot Italianate brick building boasts five units across three floors, situated on a 0.18-acre lot. Two commercial units are available, one on the first floor (previously law offices) and another on the second floor (formerly occupied by a tech company). Three residential units are currently occupied, offering immediate income potential. One residential unit is located on the third floor of the main building, featuring a living room, kitchen, bedroom, and bathroom. A second residential unit is situated on the second floor of the main building, also with a living room, kitchen, bedroom, and bathroom. A third, semi-detached residential unit is located at 229 N. Christian St., encompassing approximately 832 square feet and including a living room, kitchen, one or two bedrooms, a bathroom, and a basement with washer and dryer hookups. The property includes a seven-car paved parking lot accessed from N. Christian Street. The main building features newer HVAC and wiring, along with gas steam heat (main or backup), while all units within the main building are equipped with individual heat pumps. Located in the Central Business District, this property benefits from flexible zoning allowing a variety of uses (refer to the Lancaster City online zoning ordinance for details). Its prime location offers easy access to numerous businesses, shops, galleries, Musser Park, the Marriott Hotel, the Library, Binns Park, Ewell Plaza, and a vibrant selection of coffee shops, pubs, and restaurants. This property offers significant potential for both income generation and future development.
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230-232 Duke St Lancaster, PA 17602
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Realmo Value Estimation
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.
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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.
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.
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
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230-232 Duke St Lancaster, PA 17602
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230-232 Duke St, Lancaster, PA
Rudy DeLaurentis
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Rudy DeLaurentis
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230-232 Duke St, Lancaster, PA
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230-232 Duke St, Lancaster, PA
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230-232 Duke St, Lancaster, PA
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230-232 Duke St, Lancaster, PA
Rudy DeLaurentis
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