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    850 Greenfield Rd Lancaster, PA 17601

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    For Lease
    $350,000

    Turn-key office suites in Lancaster County's Greenfield Corporate Center.

    Lot size:
    24.15 Acres

    Property Features for 850 Greenfield Rd

    General Information

    Standard status
    Active
    Lot size
    24.15 Acres

    Building Details

    Year built
    1999

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    Listing Contact
    Althea Ramsay Carrigan
    Althea Ramsay Carrigan
    Source: Exitrealty

    Listing Agency: High Associates Ltd. Listing Agent: Althea Ramsay Carrigan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Class A+ Office Suites Available

    Located in Lancaster County, this property offers several office suites. Suites 101 and 102 can be combined for 14,000 square feet of contiguous space on the first floor, or leased individually as 6,468 square feet and 7,090 square feet suites. An additional 7,314 square feet of space is available on the second floor. These Class A+ spaces are in turn-key condition and move-in ready. The upper suite is accessible by elevator and a grand staircase. The suites can be fully secured. Customization is possible. The property features full ADA compliance, shared meeting space, and grounds. The light and bright spaces include a mixture of private offices and open areas with modern conveniences. The building is located off two US Route 30 exits in the PA Dutch country, within the Greenfield Corporate Center. Neighbors include Northwestern Mutual Insurance, CoreSource, and Saint Joseph's University. On-site parking is abundant. The lease rate of $25.00 MG includes real estate taxes, CAM, and utilities, with a 2026 base year stop.
    Location Intelligence

    Current Use by Public Records

    Saint Joseph's University ... College Education College

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.247055
    Latitude
    40.061295

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    FAQs

    What type of property is this?
    Office units - Turn-key office suites in Lancaster County's Greenfield Corporate Center.
    Where is this office units located?
    The property is located at 850 Greenfield Rd Lancaster, PA.
    What is the lease rate?
    The lease rate is $350,000.
    What are key features of this property?
    This property features: - Prime location: Situated just off two US Route 30 exits in the heart of PA Dutch country and part of the Greenfield Corporate Center.; - Turn-key class A+ condition: Move-in ready office suites requiring no immediate renovations.; - Flexible space options: Offers contiguous space up to 14,000 SF on the 1st floor, divisible into individual suites, plus additional space on the second floor.
    (717) 850-8783
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    850 Greenfield Rd Lancaster, PA 17601
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    Lancaster, PA 17601
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    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
    850 Greenfield Rd Lancaster, PA 17601
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    We can help!
    Listing Contact
    Althea Ramsay Carrigan
    Althea Ramsay Carrigan
    Real Estate License ID: RS211857L
    (717) 850-8783 (717) 293-4477
    Learn more
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