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Property profile & analytics
OFF-MARKET
Estimated value
$6,900,000
Commercial real estate
101 Queen St Lancaster, PA 17603-4334
Individually Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US73-2876033
Property summary
AI-generated overview
101 North Queen Street offers 39,285 square feet of Class A office space in Lancaster, PA's Central Business District (CBD). This 2020-built, mixed-use building boasts a minimum divisible space of 300 square feet and a maximum contiguous space of 8,747 square feet, currently entirely vacant. The property features modern finishes, elevators, and prime retail space on the ground floor with established tenants including Starbucks, Blossom Med Spa, People's Bank, and DIYO Fusion. The building's strategic location places businesses near Ewell Plaza, a vibrant hub for community events like First Fridays and Celebrate Lancaster. The address is 101 N Queen St, Lancaster, PA 17603, situated at the intersection of Queen and Orange Streets. The building is zoned for CBD use and offers attractive glass storefronts for retail tenants. This exceptional opportunity allows businesses to establish a presence in the heart of Lancaster's thriving downtown area. The building's multiple tenancy allows for flexibility in leasing options.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
1977
Construction
BRICK
Total area
43,425 SF
Lot
1.1 ac (47,916 SF)
Zoning code
CB1
APN
332-94027-0-0000
UPID
US73-2876033
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Will Do Events Event Planning Wedding Service
-
LancasterOnline Publishing House Newspaper & Magazine
-
CHYATEE (Bike/Boat/Book/etc) Store
-
Laura Z Tai Fine Jewelry and Watches (Bike/Boat/Book/etc) Store
-
Fly After 5 Publishing House
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.30M
Comparable Approach
Comparable
$7.28M
Blend (final)
Blend
$6.90M
Owner & transaction history
Jeffrey R Ostrowski · 5 yrs held
Jeffrey R Ostrowski
since 2020
7 recorded transactions
Zoning & alternative use
CB1 · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lancaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lancaster submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$8,990,000
6.5%
$8,300,000
7%
$7,705,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$11,255,000
Current use
MEDICAL BUILDING
$9,885,000
Change: -12% · Conversion: Easy
RETAIL STORES
$9,455,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$6.90M
Range $6.21M – $7.59M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$159 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$4,353
Tax year 2024
Assessed value
$110,000
Assessed 2024
Previous assessed
$110,000
+0.0% YoY
Effective rate
3.96%
On assessed value
Assessed land
$110,000
Land market value
$110,000
Total market value
$110,000
Applied tax rate
332.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
Off-Market
Year built
1977
Construction
BRICK
Heating
YES
Cooling
YES
Stories
4
Total area
43,425 SF
Lot
1.1 ac (47,916 SF)
Zoning code
CB1
APN
332-94027-0-0000
UPID
US73-2876033
Jurisdiction
LANCASTER
Zoning & alternative use
CB1 · Lancaster, PA
Zoning CB1 · permitted uses
CB1 · Lancaster, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lancaster. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$11.3M
MEDICAL BUILDING
Est. value
$9.9M
RETAIL STORES
Est. value
$9.5M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1977
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
4
Lot
1.1 ac
Current owner
From public records · entity-resolved
Jeffrey R Ostrowski
Individual
Mailing address
336 4TH AVE FL, PITTSBURGH, PA 15222-2011
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 7, 2020
$1,055,505
Jeffrey R Ostrowski
Lqz LLC
Grant Deed
—
Nov 9, 2020
$895,000
Anthony Fanning
Lqz LLC
Grant Deed
$715,000 · First Nat'l Bk/pa
Jan 4, 2019
—
Qs Zamagias LLC
—
Loan Modification
related
$17,560,000 · Ccg Sub-cde
Jan 3, 2019
—
Qs Zamagas LLC
Loz LLC
Quit Claim Deed
related
$17,560,000 · Cff Sub Cde 11 LLC
Aug 16, 2017
—
Qs Zamagias LLC
—
Grant Deed
related
$17,560,000 · Commonwealth Cornerstone Gro
Jun 13, 2016
$1,732,500
Qs Zamagias LLC
Msci 2006-iq11 North Queen Str
Grant Deed
—
Aug 20, 2015
—
Msci 2006-iq11 North Queen Str
101 North Queen Associates LP
Deed In Lieu Of Foreclosure
related
—
Apr 26, 2000
$8,000,000
101 North Queen Assoc LP
Bulova Technologies LLC
Grant Deed
$6,400,000 · Deutsche Banc Mortgage Capital
—
—
Qs Zamagias LLC
—
Deed Of Trust
related
$8,220 · Huntington Nat'l Bk
—
—
Michael G Zamagias
—
Deed Of Trust
related
$904,700 · Huntington Nat'l Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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