New Construction Mixed-Use Investment
For Sale
Contact for pricing
2309 Columbia Ave, Lancaster, PA
8-unit mixed-use property with restaurant and liquor license for sale.
Property Size8,000 SF
Lot Size0.73 Acres
Price / SF$218.75
Days on Market549
Property Features for 2309 Columbia Ave
General Information
Standard status
Active
Size
8,000 SF
Lot size
0.73 Acres
Property subtype
RETAIL
Listing Agency:
Capital Commercial Real Estate Group
(610) 359-9700
Listed By:
Alexander Topalidis · License #374766
(484) 473-5358
Source:
Moodyscre
Added: Mar 19, 2025
Changed: Sep 13
Last Checked: Sep 16 at 8:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Capital Commercial Real Estate Group
Investment Insights
Based on property information with market context.
This mixed-use investment property is new construction, situated in a rapidly developing county. The property features approximately 8,000 square feet and includes 8 units, a restaurant, and a liquor license. It benefits from high visibility on Columbia Avenue and Running Pump Road, with a combined average daily traffic count of approximately 18,157 vehicles. The location is zoned CBC. Demographics within a 5-mile radius include an estimated population of 170,000 and an average household income of approximately $91,787. Neighboring businesses include Lowes, Urgent Care, a dental office, Lidl, GIANT, Turkey Hill, Dairy Queen, Dunkin' Donuts, McDonald's, Fulton Bank, and numerous other restaurants.
Key Highlights
- New construction mixed‑use investment property with restaurant and liquor license.
- High visibility location on Columbia Ave. and Running Pump Rd. with +\/- 18,157 combined ADT.
- Eight units plus a restaurant, providing diverse income streams.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$145,928
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,918,560
$2.9M
Cap Rate 7%
$2,084,686
$2.1M
Cap Rate 9%
$1,621,422
$1.6M
Market Conditions
NOI Build-Up for 8,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$208.3K $26.04/SF
− Vacancy
−$13.7K −$1.72/SF
EGI
$194.6K $24.32/SF
− OpEx
−$48.6K −$6.08/SF
NOI
$145.9K $18.24/SF
Area
Lancaster County, PA
Vacancy
6.60%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,918,560
Cap Rate 7%
$2,084,686
Cap Rate 9%
$1,621,422
Alternative Uses
Best Use
Specialty Retail
$2.08M
$1.82M – $2.43M
NOI $145,928 @ 7.0% cap · market cap 8.34%
Second Best
Mixed Use
$1.42M
$1.24M – $1.66M
NOI $99,360 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$2.68M
$2.35M – $3.13M
NOI $187,659 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
266k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 30%
Dining 28%
Home Improvements & Furnishings 19%
Groceries 18%
Lowe's
Home Improvements & Furnishings
46,747 visits/mo
0.3 miles
Aldi
Groceries
32,313 visits/mo
0.3 miles
Dollar Tree
Shops & Services
27,301 visits/mo
0.4 miles
Royal Farms
Shops & Services
26,764 visits/mo
0.4 miles
Lidl
Groceries
14,762 visits/mo
0.4 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Restaurant - 8-unit mixed-use property with restaurant and liquor license for sale.
Where is this restaurant located?
The property is located at 2309 Columbia Ave Lancaster, PA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: New construction mixed‑use investment property with restaurant and liquor license.; High visibility location on Columbia Ave. and Running Pump Rd. with +\/- 18,157 combined ADT.; Eight units plus a restaurant, providing diverse income streams.
