Lancaster Warehouse Property for
For Sale
$3,525,000
Pending
209 HAZEL STREET, Lancaster, PA 17603
24,000 sqft warehouse property available in Lancaster, Pennsylvania.
Property Size24,000 SF
Days on Market168
Property Features for 209 HAZEL STREET
General Information
Standard status
Pending
Size
24,000 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$40,678
Building Details
Building Size
24,000 SF
Year Built
1910
Listing Agency:
Compass Real Estate, LLC
(717) 431-8300
Listed By:
Deepa Balepur · License #RM425415
(717) 808-3531
Source:
Kingswayrealty
Added: Mar 18
Changed: Aug 25
Last Checked: Aug 31 at 12:37PM
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 Compass Real Estate, LLC
Investment Insights
Based on property information with market context.
Located off South Prince Street, this property is situated on Hazel Street in Lancaster, Pennsylvania. The property encompasses 24,000 square feet and is suitable for warehouse or industrial use.
Key Highlights
- Located on Hazel St
- Situated to the right when coming from S Prince St
- Located in Lancaster County
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
$162,308
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
4.60%
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%
$3,246,160
$3.2M
Cap Rate 7%
$2,318,686
$2.3M
Cap Rate 9%
$1,803,422
$1.8M
Market Conditions
NOI Build-Up for 24,000 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
$206.9K $8.62/SF
− Vacancy
−$15.9K −$0.66/SF
EGI
$191.0K $7.96/SF
− OpEx
−$28.6K −$1.19/SF
NOI
$162.3K $6.76/SF
Area
Lancaster County, PA
Vacancy
7.70%
Lease Rate
$8.62 /SF/Yr
Expense Ratio
15.00%
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%
$3,246,160
Cap Rate 7%
$2,318,686
Cap Rate 9%
$1,803,422
Alternative Uses
Best Use
Warehouse
$2.32M
$2.03M – $2.71M
NOI $162,308 @ 7.0% cap · market cap 4.60%
Second Best
Industrial
$1.91M
$1.67M – $2.23M
NOI $133,665 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$8.04M
$7.04M – $9.38M
NOI $562,978 @ 7.0% cap · market cap 15.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,643
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17603, PA
66,739
Population
28,142
Households
2.4
Avg Household Size
37
Median Age
37%
College-Educated
90%
High-School Grad
30.0 sq mi
ZIP Area
2,225
Density / Sq Mi
$77,156
Median Household Income
$40,043
Median Earnings
$1,265
Median Rent
$244,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 24,000 sqft warehouse property available in Lancaster, Pennsylvania.
Where is this warehouse located?
The property is located at 209 HAZEL STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $3,525,000.
What are key features of this property?
This property features: Located on Hazel St; Situated to the right when coming from S Prince St; Located in Lancaster County
