Office Unit With Elevator
415 N PRINCE STREET, Lancaster, PA 17603
For Sale
Contact for pricing
Condominium-style professional space in a restored building with parking garage access and a central Lancaster City business address.
Property Size1,810 SF
Price / SF$2.21
Days on Market101
Property Features for 415 N PRINCE STREET
General Information
Standard status
Size
Total Parking Spaces
Elevators
Property subtype
Building Details
Year Built
Listing Agency:
Realty ONE Group Unlimited
(717) 569-1700
Listed By:
Kate Storm · License PA RS341749
(717) 606-3742
Source:
Cummingsrealtors
Added: Aug 6
Changed: Nov 12
Last Checked: Nov 12 at 8:30AM
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 Realty ONE Group Unlimited
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Investment Insights
Based on property information with market context.
This condominium-style office property occupies space within a restored professional building that combines historic architectural character with contemporary industrial design. The building includes elevator service and parking garage access, with 8 parking spaces available for employees and clients. Constructed in 2005, the property is also home to established businesses and residential units, creating a mixed professional and residential setting.
The office is located at 415 N Prince Street in Lancaster City, with access to downtown restaurants, shops, and the courthouse. Its central setting provides a recognizable business address for professional users seeking office space within a multi-tenant building.
The office is located at 415 N Prince Street in Lancaster City, with access to downtown restaurants, shops, and the courthouse. Its central setting provides a recognizable business address for professional users seeking office space within a multi-tenant building.
Key Highlights
- 1,810 property size
- Elevator access within the building
- Parking garage access with 8 spaces for employees and clients
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,966
Suggested Prices Based on Cap Rates
Cap Rate 5%
$599,320
$599.3K
Cap Rate 7%
$428,086
$428.1K
Cap Rate 9%
$332,956
$333.0K
Market Conditions
NOI Build-Up for 1,810 SF
Gross rent
$46.5K $25.68/SF
− Vacancy
−$6.5K −$3.61/SF
EGI
$40.0K $22.07/SF
− OpEx
−$10.0K −$5.52/SF
NOI
$30.0K $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%
$599,320
Cap Rate 7%
$428,086
Cap Rate 9%
$332,956
Alternative Uses
Best Use
Office B
$428.1K
$374.6K – $499.4K
NOI $29,966 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$606.5K
$530.7K – $707.6K
NOI $42,458 @ 7.0% cap
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
5,128
Businesses Nearby
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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
$244,500
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Lancaster, PA
Properties on Market for Office Units in Lancaster
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Condominium-style professional space in a restored building with parking garage access and a central Lancaster City business address.
Where is this office unit located?
The property is located at 415 N PRINCE STREET Lancaster, PA.
What are key features of this property?
This property features: 1,810 property size; Elevator access within the building; Parking garage access with 8 spaces for employees and clients
