Retail Storefront with
New
For Sale
$700,000
843 Columbia Ave, Lancaster, PA 17603
Flexible commercial suites with on-site parking and R4 zoning along Columbia Avenue.
Property Size3,825 SF
Lot Size0.19 Acres
Price / SF$183.01
Days on Market2
Property Features for 843 Columbia Ave
General Information
Standard status
Active
Size
3,825 SF
Total Parking Spaces
18
Lot size
0.19 Acres
Zoning
R4
Additional Details
Traffic Count
13,000 vehicles/day
Building Details
Year Built
1940
Listing Agency:
RE/MAX SmartHub Realty
Listed By:
Jeremy Ganse · License #RS306553
(717) 208-0789
Source:
Lgagne
Added: Sep 21
Last Checked: Sep 21 at 2:36PM
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 RE/MAX SmartHub Realty
Investment Insights
Based on property information with market context.
This retail storefront property at 843 Columbia Ave includes 3,825 square feet of building area on a 0.19-acre parcel. Built in 1940, the property offers suite configurations ranging from 675 to 2,795 square feet, supporting a range of retail, office, and service-oriented layouts subject to applicable approvals. The site includes 18 on-site parking spaces.
Positioned along Columbia Avenue, the property records traffic of 13,000+ vehicles per day. It is located within the R4 zoning district, with potential for office, retail, service, and other qualifying business uses, including possible corner-location commercial occupancy subject to zoning approval.
Positioned along Columbia Avenue, the property records traffic of 13,000+ vehicles per day. It is located within the R4 zoning district, with potential for office, retail, service, and other qualifying business uses, including possible corner-location commercial occupancy subject to zoning approval.
Key Highlights
- 3,825‑square‑foot retail storefront property built in 1940
- 0.19‑acre site with 18 on‑site parking spaces
- Suite options range from 675 to 2,795 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,014
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$900,280
$900.3K
Cap Rate 7%
$643,057
$643.1K
Cap Rate 9%
$500,156
$500.2K
Market Conditions
NOI Build-Up for 3,825 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$68.9K $18.00/SF
− Vacancy
−$4.5K −$1.19/SF
EGI
$64.3K $16.81/SF
− OpEx
−$19.3K −$5.04/SF
NOI
$45.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$900,280
Cap Rate 7%
$643,057
Cap Rate 9%
$500,156
Alternative Uses
Best Use
Retail
$643.1K
$562.7K – $750.2K
NOI $45,014 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,725 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
13,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
25k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 29%
Sunoco
Shops & Services
6,554 visits/mo
0.2 miles
Turkey Hill Minit Market
Shops & Services
5,576 visits/mo
0.5 miles
Turkey Hill Minit Market
Shops & Services
5,351 visits/mo
0.1 miles
Krispy Krunchy Chicken
Dining
2,858 visits/mo
0.3 miles
Pizza Hut
Dining
2,646 visits/mo
0.4 miles
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 Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial suites with on-site parking and R4 zoning along Columbia Avenue.
Where is this storefront property located?
The property is located at 843 Columbia Ave Lancaster, PA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 3,825‑square‑foot retail storefront property built in 1940; 0.19‑acre site with 18 on‑site parking spaces; Suite options range from 675 to 2,795 square feet
