Private Outdoor Viewing Deck Office
For Sale
$4,250,000
311 Harrisburg Ave, Lancaster, PA 17603
Office building converted from a tobacco warehouse with a private outdoor viewing deck into Penn Medicine Stadium.
Property Size18,495 SF
Price / SF$229.79
Days on Market276
Property Features for 311 Harrisburg Ave
General Information
Standard status
Active
Size
18,495 SF
Property subtype
Commercial
Amenities
private outdoor viewing deck
Building Details
Year Built
1920
Year Renovated
2020
Listing Agency:
U.S. Commercial Realty
Listed By:
Joseph Kyle Maser
(717) 940-2253
Source:
Baltimoreharfordhomesforsale
Added: Jan 27
Changed: Oct 25
Last Checked: Oct 28 at 8:41AM
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 U.S. Commercial Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office building serves as The Exterior Company, LLC’s corporate headquarters for their regional business providing roofing, siding and gutter solutions. The property was created through a major renovation and restoration completed in 2020 of a former Lancaster County tobacco warehouse. The renovation includes a private outdoor viewing deck that looks into Penn Medicine Stadium.
Set in the northwest corridor of Lancaster City, the building is positioned in proximity to Franklin & Marshall College and Penn Medicine’s Lancaster General Hospital.
The facility totals 18,495 square feet and is well suited for an owner-occupant looking for a headquarters-style office environment built from a fully renovated historic warehouse structure.
Set in the northwest corridor of Lancaster City, the building is positioned in proximity to Franklin & Marshall College and Penn Medicine’s Lancaster General Hospital.
The facility totals 18,495 square feet and is well suited for an owner-occupant looking for a headquarters-style office environment built from a fully renovated historic warehouse structure.
Key Highlights
- 18,495 SF office building
- Major renovation and restoration completed in 2020
- Private outdoor viewing deck into Penn Medicine Stadium
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$306,201
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,124,020
$6.1M
Cap Rate 7%
$4,374,300
$4.4M
Cap Rate 9%
$3,402,233
$3.4M
Market Conditions
NOI Build-Up for 18,495 SF
Gross rent
$475.0K $25.68/SF
− Vacancy
−$66.7K −$3.61/SF
EGI
$408.3K $22.07/SF
− OpEx
−$102.1K −$5.52/SF
NOI
$306.2K $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 Rate 5%
$6,124,020
Cap Rate 7%
$4,374,300
Cap Rate 9%
$3,402,233
Alternative Uses
Best Use
Office B
$4.37M
$3.83M – $5.10M
NOI $306,201 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.20M
$5.42M – $7.23M
NOI $433,845 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,043
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Office building converted from a tobacco warehouse with a private outdoor viewing deck into Penn Medicine Stadium.
Where is this office building located?
The property is located at 311 Harrisburg Ave Lancaster, PA.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 18,495 SF office building; Major renovation and restoration completed in 2020; Private outdoor viewing deck into Penn Medicine Stadium
