Building Details

Buildings 3

Listing Agency: Landmark Commercial Realty Show Phone

Listed By: Michael Rohm Show Phone

Source: Moodyscre

Added: Sep 4 Changed: Sep 26 Last Checked: Sep 26 at 4:09AM

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Investment Insights

Based on property information with market context.

At 2718 Willow Street Pike N, the industrial property includes three primary buildings and a fenced outdoor yard. The approximately 5,700 SF high-bay repair garage has five drive-in doors. A separate office and retail building contains approximately 2,300 SF, and the site also includes a two-unit residential rental. The property is currently used as an RV dealership, with outdoor space used for storage and related vehicle activity. Public water and sewer serve the site.

The property is in West Lampeter Township, Lancaster County, approximately 4 miles from Downtown Lancaster. Its mix of service, office, retail, residential, and outdoor storage components forms the existing site configuration.

Key Highlights

• Three primary buildings on the property
• Approximately 5,700 SF high‑bay repair garage with five (5) drive‑in doors
• Approximately 2,300 SF office and retail building

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

$116,248

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

4.32%

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%

$2,324,960 $2.3M

Cap Rate 7%

$1,660,686 $1.7M

Cap Rate 9%

$1,291,644 $1.3M

Market Conditions

NOI Build-Up for 9,878 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

$177.8K $18.00/SF

− Vacancy

−$11.7K −$1.19/SF

EGI

$166.1K $16.81/SF

− OpEx

−$49.8K −$5.04/SF

NOI

$116.2K $11.77/SF

Area

Lancaster County, PA

Vacancy

6.60%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

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%

$2,324,960

Cap Rate 7%

$1,660,686

Cap Rate 9%

$1,291,644

Alternative Uses

Best Use

Retail

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,248 @ 7.0% cap · market cap 4.32%

Second Best

Multifamily LT 5

$1.58M

$1.38M – $1.84M (±1% cap)

NOI $110,336 @ 7.0% cap · market cap 4.10%

Theoretical Best

Office A

$3.31M

$2.90M – $3.86M (±1% cap)

NOI $231,712 @ 7.0% cap · market cap 8.61%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

RV Value Mart ... Car Dealership

Suggested Use

Top Pick Real Estate Agency Law Firm Auto Parts Store Parking Lot & Garage HVAC Service (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Drive-in doors

Yes

Fenced yard

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

612

Businesses Nearby

Explore this area Business Placement

Demographics for 17584, PA

10,409

Population

4,999

Households

2.1

Avg Household Size

51

Median Age

42%

College-Educated

95%

High-School Grad

14.8 sq mi

ZIP Area

703

Density / Sq Mi

$106,363

Median Household Income

$46,321

Median Earnings

$2,022

Median Rent

$296,800

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this industrial properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Industrial property - Three buildings combine vehicle service space, office and retail areas, residential rentals, and a fenced outdoor yard.

Where is this industrial property located?

The property is located at 2718 Willow Street Pike N Willow Street, PA.

What is the asking price?

The asking price for this property is $2,690,000.

What are key features of this property?

This property features: Three primary buildings on the property; Approximately 5,700 SF high‑bay repair garage with five (5) drive‑in doors; Approximately 2,300 SF office and retail building