Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2309 Columbia Ave Lancaster, PA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    8-unit mixed-use property with restaurant and liquor license for sale.

    Type:RETAIL
    Property size:
    8,000 SF
    Lot size:
    0.73 Acres
    Price / SF:
    $218/SF
    Added:
    Mar 19, 2025
    Days on Market:
    408
    Last Refresh:
    Apr 5 at 11:06 pm

    Property Features for 2309 Columbia Ave

    General Information

    Standard status
    Active
    Size
    8,000 SF
    Lot size
    0.73 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Alexander Topalidis

    Listing agent Alexander Topalidis

    Listing office Capital Commercial Real Estate Group

    Listing date Mar 19, 2025

    Source Moodyscre

    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

    Overview

    New Construction Mixed-Use Investment Property

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ELIMAR'S Bar & Grill Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Firehouse Subs Lime Spring Square — 120 Rohrerstown Rd #8A, Lancaster, PA 17603

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.3669
    Latitude
    40.0403

    Nearby Similar for Sale

    • $330,000

      Established Lancaster Restaurant Business Opportunity

      Profitable international cuisine restaurant with loyal clientele for sale.
      798 NEW HOLLAND Avenue, LANCASTER, PA 17602
      View Details
    • $495,000
      3,353 SF

      Lancaster Triplex: Investment Opportunity

      Well-maintained triplex in Lancaster, ideal for investors or owner-occupants.
      1694, 1696, 1698 COLUMBIA Avenue, LANCASTER, PA 17603
      View Details
    • $1,500,000

      Turnkey Restaurant/Retail Property in Lancaster

      Renovated restaurant/retail property with business assets in downtown Lancaster.
      30 W LEMON Street, LANCASTER, PA 17603
      View Details
    • $3,525,000

      Lancaster Brewery and Restaurant Opportunity

      Brewery and restaurant for sale in Lancaster County, Pennsylvania.
      209 HAZEL Street, LANCASTER, PA 17603
      View Details
    • $140,000

      Lancaster City Grocery/Lottery Business

      Grocery and lottery business opportunity in Lancaster, Pennsylvania.
      14 S PRINCE Street, LANCASTER, PA 17603
      View Details
    • $1,000,000

      Lancaster Commercial Property with Income

      Commercially zoned property with truck maintenance, storage, and parking.
      40 PITNEY Road, LANCASTER, PA 17602
      View Details
    • $399,900
      2,152 SF

      Updated Lancaster City Income Property

      Turn-key, renovated 2-unit property with income potential in Lancaster City.
      751 HIGH Street, LANCASTER, PA 17603
      View Details
    • $749,900
      2,688 SF

      Turnkey Lancaster Investment Property

      Four-unit property in Lancaster's Central Business District.
      13 E WALNUT Street, LANCASTER, PA 17602
      View Details
    • $439,000
      1,610 SF

      Updated Lancaster City Two-Unit Property

      Turn-key, updated two-unit property in the heart of Lancaster City.
      18 W LIBERTY Street, LANCASTER, PA 17603
      View Details
    • $151,000

      Lancaster Office Space For Sale

      Second-floor office space with private offices and conference room.
      2938-1 COLUMBIA AVENUE, LANCASTER, PA 17603
      View Details
    • $445,000
      2,307 SF

      Lancaster Triplex Investment Opportunity

      Fully rented triplex near Lancaster General Hospital with steady income.
      621 N LIME Street, LANCASTER, PA 17602
      View Details
    • $334,900
      1,596 SF

      Lancaster City Duplex Opportunity

      Turnkey income-producing duplex in vibrant Lancaster City neighborhood.
      464 S ANN Street, LANCASTER, PA 17602
      View Details

    FAQs

    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.
    (484) 473-5358 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Alexander Topalidis
    Learn More
    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.
    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.
    Sign Up Successful!
    You now have access to more from Realmo!