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    1950 Old Philadelphia Pike Lancaster, PA 17602

    Sponsored
    For Sale
    $1,500,000

    Prime Lancaster Retail Space, High Traffic

    Property size:
    2,240 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional opportunity to acquire a 2,240 square foot retail building located at 1950 Old Philadelphia Pike in Lancaster, Pennsylvania, 17602. This single-tenant property, formerly a Truist Bank, boasts a coveted two-lane drive-thru, ideal for a variety of uses including banking, restaurants, or other businesses requiring convenient customer access. Built in 1966 and renovated in 2012, the building sits on a 0.98-acre lot with ample parking for 16 vehicles. The property benefits from a highly visible location directly off US Highway Route 30, experiencing an average daily traffic count exceeding 19,165 vehicles. This ensures excellent visibility and accessibility for any business. The flexible neighborhood commercial zoning allows for multiple uses, such as financial institutions, restaurants, daycare centers, medical or dental offices, retail sales, or general office space. The asking price is $1,500,000, and the lease type is NNN. This property presents a lucrative investment opportunity in Lancaster's thriving commercial market. The building's features and location combine to offer a unique and attractive proposition for a wide range of potential buyers or lessees. Don't miss this chance to secure a prime commercial property in a high-traffic area.

    Property Features for 1950 Old Philadelphia Pike

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,240 SF
    Lot Size
    42,689 SF

    Building Details

    Year Built/Renovated
    1966/2012

    HighLights

    • Former Truist Bank building available for sale or lease.
    • Features a two‑lane drive‑thru, perfect for banking or restaurant use.
    • Centrally located near major retailers.
    Property Profile Location Intelligence

    Current Use by Public Records

    BB&T - ATM Atm

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.2485682
    Latitude
    40.040219

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    FAQs

    What type of property is this?
    Individual retail property - Prime Lancaster Retail Space, High Traffic
    Where is this individual retail property located?
    The property is located at 1950 Old Philadelphia Pike Lancaster, PA.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Former Truist Bank building available for sale or lease.; Features a two-lane drive-thru, perfect for banking or restaurant use.; Centrally located near major retailers.
    Request Owner's contact information
    1950 Old Philadelphia Pike Lancaster, PA 17602
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    Lancaster, PA 17602
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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
    1950 Old Philadelphia Pike Lancaster, PA 17602
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