Multi-Suite Medical Office
New
For Sale
$1,500,000
2445 Marietta Ave, Lancaster, PA 17601
Two suites combine a dedicated medical layout with flexible professional office space.
Property Size5,000 SF
Lot Size2.80 Acres
Price / SF$300
Days on Market7
Property Features for 2445 Marietta Ave
General Information
Standard status
Active
Size
5,000 SF
Class
B
Lot size
2.80 Acres
Property subtype
Office
Additional Details
Office Units
2
Building Details
Building Size
5,000 SF
Year Built
1985
Buildings
1
Tenancy
Multi
Listing Agency:
NAI CIR
(717) 395-1804
Listed By:
Amber Corbo
(717) 395-1804
Source:
Circommercial
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 29 at 11:42AM
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 NAI CIR
Investment Insights
Based on property information with market context.
This medical office property includes two separate suites totaling 5,000 SF. The 3,500 SF upper suite is arranged for clinical operations, with nine exam rooms, three private physician or professional offices, reception and waiting areas, a nurse station, and additional clinical and administrative space. The 1,500 SF lower-level suite includes four private offices, reception, a kitchen and break area, plus dedicated storage.
The building sits on 2.8 acres and includes a neighboring 1-acre parcel in the purchase. On-site parking supports both suites, while visibility from Route 30 provides prominent exposure. Built in 1985, the property offers an established medical configuration alongside adaptable office space for professional occupancy.
The building sits on 2.8 acres and includes a neighboring 1-acre parcel in the purchase. On-site parking supports both suites, while visibility from Route 30 provides prominent exposure. Built in 1985, the property offers an established medical configuration alongside adaptable office space for professional occupancy.
Key Highlights
- Two‑suite medical and professional office property totaling 5,000 SF
- Suite 1 measures 3,500 SF and includes nine exam rooms
- Suite 2 measures 1,500 SF with four private offices and storage
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
$82,779
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
5.52%
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%
$1,655,580
$1.7M
Cap Rate 7%
$1,182,557
$1.2M
Cap Rate 9%
$919,767
$919.8K
Market Conditions
NOI Build-Up for 5,000 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
$128.4K $25.68/SF
− Vacancy
−$18.0K −$3.61/SF
EGI
$110.4K $22.07/SF
− OpEx
−$27.6K −$5.52/SF
NOI
$82.8K $16.56/SF
Area
Lancaster County, PA
Vacancy
14.04%
Lease Rate
$25.68 /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%
$1,655,580
Cap Rate 7%
$1,182,557
Cap Rate 9%
$919,767
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.38M
NOI $82,779 @ 7.0% cap · market cap 5.52%
Second Best
Healthcare Medical
$1.04M
$912.1K – $1.22M
NOI $72,964 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.68M
$1.47M – $1.95M
NOI $117,287 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
688
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17601, PA
55,710
Population
23,126
Households
2.4
Avg Household Size
43
Median Age
48%
College-Educated
94%
High-School Grad
33.5 sq mi
ZIP Area
1,663
Density / Sq Mi
$96,433
Median Household Income
$50,358
Median Earnings
$1,477
Median Rent
$324,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two suites combine a dedicated medical layout with flexible professional office space.
Where is this medical office space located?
The property is located at 2445 Marietta Ave Lancaster, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two‑suite medical and professional office property totaling 5,000 SF; Suite 1 measures 3,500 SF and includes nine exam rooms; Suite 2 measures 1,500 SF with four private offices and storage
