Building Details

Year Built 1995

Listing Agency: Compass Real Estate, LLC i***@compass-pa.com Show Phone

Listed By: Deepa Balepur · License #RM425415 Show Phone

Source: Cummingsrealtors

Added: Aug 24 Changed: Oct 19 Last Checked: Oct 19 at 9:22AM

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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 Compass Real Estate, LLC

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Investment Insights

Based on property information with market context.

This 17,150-square-foot medical office property includes several dental suites with installed clinical equipment, fixtures, and furnishings. The existing buildout supports continued dental use and can accommodate a single practice operating across multiple specialties or separate dental and medical users. The building was constructed in 1995 and includes on-site parking.

Located at 60 W Walnut Street in Lancaster, PA, the property offers an established clinical setting with infrastructure already in place for healthcare operations. The combination of multiple suites, installed equipment, and furnished treatment areas provides a configured medical-office environment for an owner-user, practice group, or healthcare operator.

Key Highlights

• 17,150‑square‑foot medical office property
• Multiple dental suites with installed equipment, fixtures, and furnishings
• On‑site parking included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$250,267

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,005,340 $5.0M

Cap Rate 7%

$3,575,243 $3.6M

Cap Rate 9%

$2,780,744 $2.8M

What to ask about pricing

Market Conditions

NOI Build-Up for 17,150 SF

Gross rent

$446.6K $26.04/SF

− Vacancy

−$29.5K −$1.72/SF

EGI

$417.1K $24.32/SF

− OpEx

−$166.8K −$9.73/SF

NOI

$250.3K $14.59/SF

Area

Lancaster County, PA

Vacancy

6.60%

Lease Rate

$26.04 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,005,340

Cap Rate 7%

$3,575,243

Cap Rate 9%

$2,780,744

Alternative Uses

Best Use

Office B

$4.06M

$3.55M – $4.73M (±1% cap)

NOI $283,934 @ 7.0% cap · market cap 995.88%

Second Best

Healthcare Medical

$3.58M

$3.13M – $4.17M (±1% cap)

NOI $250,267 @ 7.0% cap · market cap 877.79%

Theoretical Best

Office A

$5.75M

$5.03M – $6.70M (±1% cap)

NOI $402,295 @ 7.0% cap · market cap 1,411.02%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Lancaster Dental Arts Dental Office Dr. James F. ... Dental Office Dr. Sixto Garduno ... Dental Office Anthony J. Panossian, ... Dental Office Dr. Anil Shah ... Dental Office

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Furniture & Home Goods Pet Store Pet Store & Service Storage Facility

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

Location Intelligence

Trade Area within ½ mile

4,830

Businesses Nearby

Under-served

Demand for This Use

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

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Multiple equipped clinical suites support a dental or medical practice configuration.

Where is this medical office space located?

The property is located at 60 W WALNUT STREET Lancaster, PA.

What are key features of this property?

This property features: 17,150‑square‑foot medical office property; Multiple dental suites with installed equipment, fixtures, and furnishings; On‑site parking included