Flex Space with Drive-In
For Sale
$1,990,000
837 3RD Street, Lancaster, PA 17603
Warehouse, service, and office areas are complemented by a fenced yard, on-site parking, and installed shop equipment.
Property Size12,000 SF
Price / SF$165.83
Days on Market8
Property Features for 837 3RD Street
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Commercial
Lease Term
[]
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Drive-In Doors
4
Automotive Uses
auto repair
Real Estate Included
Yes
Property Use
Warehouse and Automotive Service
Amenities
Security System
Building Details
Year Built
1929
Building Size
12,000 SF
Listing Agency:
Tri-State Home Realty,LLC
Listed By:
Yan Levshits
(215) 600-0919
Source:
Deepcreeklake
Added: Oct 19
Changed: Oct 25
Last Checked: Oct 25 at 2:34AM
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 Tri-State Home Realty,LLC
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Investment Insights
Based on property information with market context.
This flex property contains approximately 12,000 square feet of warehouse, service, and office space. The building includes four drive-in garage doors and several renovated offices, with hydraulic lifts and shop equipment in place. Improvements include updated electrical, a new HVAC system, new heaters, new windows, and a new roof. The building was constructed in 1929 and has industrial zoning.
A fenced yard provides outdoor space for vehicles, equipment, or storage, and the property also has on-site parking and a security system. The existing combination of interior work areas, offices, equipment, and secured outdoor space supports a range of commercial operations, subject to applicable municipal approvals.
A fenced yard provides outdoor space for vehicles, equipment, or storage, and the property also has on-site parking and a security system. The existing combination of interior work areas, offices, equipment, and secured outdoor space supports a range of commercial operations, subject to applicable municipal approvals.
Key Highlights
- Approximately 12,000 square feet of warehouse, service, and office space
- Four drive‑in garage doors
- Hydraulic lifts and shop equipment installed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$141,221
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,824,420
$2.8M
Cap Rate 7%
$2,017,443
$2.0M
Cap Rate 9%
$1,569,122
$1.6M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$216.0K $18.00/SF
− Vacancy
−$14.3K −$1.19/SF
EGI
$201.7K $16.81/SF
− OpEx
−$60.5K −$5.04/SF
NOI
$141.2K $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 Rate 5%
$2,824,420
Cap Rate 7%
$2,017,443
Cap Rate 9%
$1,569,122
Alternative Uses
Best Use
Retail
$2.02M
$1.77M – $2.35M
NOI $141,221 @ 7.0% cap · market cap 7.10%
Second Best
Warehouse
$1.16M
$1.01M – $1.35M
NOI $81,154 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$4.02M
$3.52M – $4.69M
NOI $281,489 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
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Current Use
Lease Details
4
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,032
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
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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
- Commonwealth Kitchen — 213 W Chestnut St, Lancaster, PA 17603
Frequently Asked Questions
What type of property is this?
Flex space - Warehouse, service, and office areas are complemented by a fenced yard, on-site parking, and installed shop equipment.
Where is this flex space located?
The property is located at 837 3RD Street Lancaster, PA.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Approximately 12,000 square feet of warehouse, service, and office space; Four drive‑in garage doors; Hydraulic lifts and shop equipment installed
