One-Story Flex Space with
For Sale
$263,000
307 S LIME STREET, Lancaster, PA 17602
Brick commercial building with office, heated garage, storage, workspace, bathroom, and grade-level access in Lancaster City.
Property Size1,700 SF
Price / SF$150.98
Days on Market49
Property Features for 307 S LIME STREET
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Commercial
Building Details
Year Built
1900
Buildings
1
Stories
1
Building Size
1,700 SF
Construction
brick/masonry
Listing Agency:
Iron Valley Real Estate of Lancaster
(717) 740-2221
Listed By:
Daryl Brown · License #RS322304
(717) 693-3019
Source:
Cummingsrealtors
Added: Sep 2
Changed: Oct 19
Last Checked: Oct 19 at 10:37AM
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 Iron Valley Real Estate of Lancaster
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Investment Insights
Based on property information with market context.
This 1,742-square-foot flex property is a one-story brick and masonry building constructed in 1900. The layout includes office space, a heated garage, substantial storage and work areas, and a full bathroom. Grade-level entry adds practical functionality for operations involving equipment, materials, or vehicles.
Located at 307 S Lime Street in Lancaster City, the property is close to downtown, established residential areas, restaurants, shops, and local businesses. Lancaster Central Market and nearby retail, dining, and entertainment venues contribute to the surrounding urban setting. The combination of office accommodation, garage space, and work areas creates a compact commercial property with adaptable interior functionality.
Located at 307 S Lime Street in Lancaster City, the property is close to downtown, established residential areas, restaurants, shops, and local businesses. Lancaster Central Market and nearby retail, dining, and entertainment venues contribute to the surrounding urban setting. The combination of office accommodation, garage space, and work areas creates a compact commercial property with adaptable interior functionality.
Key Highlights
- 1,742‑square‑foot flex property in Lancaster City
- One‑story brick and masonry building constructed in 1900
- Heated garage with grade‑level access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,702
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$194,040
$194.0K
Cap Rate 7%
$138,600
$138.6K
Cap Rate 9%
$107,800
$107.8K
Market Conditions
NOI Build-Up for 1,742 SF
Gross rent
$15.0K $8.62/SF
− Vacancy
−$1.2K −$0.66/SF
EGI
$13.9K $7.96/SF
− OpEx
−$4.2K −$2.39/SF
NOI
$9.7K $5.57/SF
Area
Lancaster County, PA
Vacancy
7.70%
Lease Rate
$8.62 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$194,040
Cap Rate 7%
$138,600
Cap Rate 9%
$107,800
Alternative Uses
Best Use
Industrial
$138.6K
$121.3K – $161.7K
NOI $9,702 @ 7.0% cap · market cap 3.69%
Second Best
Flex RnD
$129.0K
$112.9K – $150.5K
NOI $9,030 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$583.8K
$510.8K – $681.1K
NOI $40,863 @ 7.0% cap · market cap 15.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,699
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- This Little Piggy — 33 N Market St, Lancaster, PA 17603
- Commonwealth Kitchen — 213 W Chestnut St, Lancaster, PA 17603
- Pierre DeRagon Personal Chef Services — 213 E Chestnut St, Lancaster, PA 17602
- Jerry's American Catering Co. — 347 N Plum St, Lancaster, PA 17602
- Twisted Spoon — 221 E Frederick St, Lancaster, PA 17602
Frequently Asked Questions
What type of property is this?
Flex space - Brick commercial building with office, heated garage, storage, workspace, bathroom, and grade-level access in Lancaster City.
Where is this flex space located?
The property is located at 307 S LIME STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $263,000.
What are key features of this property?
This property features: 1,742‑square‑foot flex property in Lancaster City; One‑story brick and masonry building constructed in 1900; Heated garage with grade‑level access
