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    1001 Market St York, PA 17404

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    For Sale
    Contact for pricing

    High-profile corner lot, ideal for retail

    Property size:
    10,000 SF

    Property Features for 1001 Market St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    10,000 SF

    Building Details

    Buildings
    1

    We can help!

    Listing Contact
    Justin Shoemaker
    Justin Shoemaker

    Listing Agency: Landmark Commercial Realty Listing Agent: Justin Shoemaker

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 2.2-acre corner property in York City, PA, presents a remarkable redevelopment opportunity. Located at the intersection of West Market Street (Route 462) and Richland Avenue, this high-traffic site boasts over 375 feet of frontage on Market Street and over 340 feet on Richland Avenue. The property includes a substantial existing building of over 22,000 square feet, previously used as a grocery store. Its strategic location offers excellent visibility and accessibility, situated near the York Fairgrounds (York Expo Center), which attracts over 500,000 visitors annually during the York State Fair. The site benefits from high daily traffic counts, exceeding 12,000 vehicles on West Market Street and over 17,000 on Richland Avenue. The property's zoning permits a wide range of commercial uses, including retail, automotive, office, and self-storage facilities. Adaptive reuse options are also viable, such as a laundromat or other retail establishments. This location is highly desirable, with a population exceeding 21,000 within a one-mile radius, and is near established businesses like Dollar Tree, Dollar General, Advance Auto, and CVS. The property's size and location make it an exceptional investment for developers seeking a high-impact project in a thriving commercial area. The majority of the property is zoned EC within York City, with a small western portion zoned commercial in West York Borough.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    La Pa Nache ... Hair Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    York
    County
    York
    State
    Pennsylvania
    Longitude
    -76.75035
    Latitude
    39.955723

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    FAQs

    What type of property is this?
    Lifestyle center - High-profile corner lot, ideal for retail
    Where is this lifestyle center located?
    The property is located at 1001 Market St York, PA.
    What are key features of this property?
    This property features: High-profile corner lot with signalized intersection, ideal for redevelopment.; 22,000+ SF building on a 2.2-acre site.; EC zoning in York City, with a small commercially-zoned portion in West York Borough.
    (717) 731-1990 Call to check price and availability
    Request Owner's contact information
    1001 Market St York, PA 17404
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    York, PA 17404
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1001 Market St York, PA 17404
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Justin Shoemaker
    Justin Shoemaker
    Real Estate License ID: RS225235L
    (717) 731-1990
    Learn more
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