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    602 St Joseph St Lancaster, PA 17603

    For Sale
    $300,000

    Fully Leased, Renovated 2-Unit Investment

    Property size:
    2,368 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional mixed-use investment property, located at 602 St Joseph St in Lancaster City, Pennsylvania, presents a compelling opportunity for value-add investors. The property, a two-story building constructed in 1870 and extensively renovated in 2019, boasts 2,368 square feet and is currently 100% occupied by two tenants. The building features a ground-floor commercial storefront and a four-bedroom, one-bathroom residential apartment on the upper level, providing a diverse income stream. Recent improvements include a new commercial storefront and facade (2019), a complete HVAC system replacement (2019), and a brand-new roof installed in 2023. The property is zoned R-3 and situated in Lancaster City's desirable SOWE District. Currently operating with below-market rents, this property offers significant potential for increased profitability through effective property management and rent adjustments. The building's strong foundation, recent upgrades, and prime location make it an attractive investment with considerable upside. The asking price is $300,000.

    Property Features for 602 St Joseph St

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,368 SF

    Building Details

    Year Built/Renovated
    1870/2019
    Stories
    2
    Units
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.312967303096
    Latitude
    40.032992611265

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    FAQs

    What type of property is this?
    Individual retail property - Fully Leased, Renovated 2-Unit Investment
    Where is this individual retail property located?
    The property is located at 602 St Joseph St Lancaster, PA.
    What is the asking price?
    The asking price for this property is $300,000.
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    Realmo Value Estimation

    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.

    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.

    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
    602 St Joseph St Lancaster, PA 17603
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