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    723 Prince St Lancaster, PA 17603

    Sponsored
    For Sale
    $4,700,000

    Mixed-use, 103,672 SF, high visibility

    Property size:
    103,672 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 103,672 square foot mixed-use property presents a compelling redevelopment opportunity in the heart of Lancaster, Pennsylvania. Situated on a 1.12-acre lot, this three-story building boasts a prime location across from Clipper Magazine Stadium, enjoying high traffic visibility with approximately 13,000 vehicles passing daily. The property currently features an auto service and showroom, along with a former tobacco warehouse, offering significant potential for adaptive reuse. Its strategic location provides convenient access from North Prince Street, West Clay Street, and North Market Street. The property is zoned for mixed-use development, aligning perfectly with the city's vision for revitalization. Further enhancing its appeal are the available LERTA and CRIZ incentives, designed to stimulate economic growth and development. Concept sketches for a multifamily conversion are available for review. The asking price for this significant property is $4,700,000. This is a rare chance to acquire a substantial property in a thriving downtown area with considerable upside potential. The property's size and location make it ideal for a variety of development projects, capitalizing on the city's ongoing growth and the high volume of daily traffic.

    Property Features for 723 Prince St

    General Information

    Property type
    Multifamily properties
    Square Feet
    103,672 SF
    Lot Size
    48,787 SF

    Building Details

    Stories
    3

    HighLights

    • 103,672 SF mixed‑use building on a 1.12‑acre lot in Lancaster, PA.
    • Prime location across from Clipper Magazine Stadium with high traffic visibility (approx. 13,000 vehicles daily).
    • Currently houses an auto service/showroom and former tobacco warehouse, ideal for adaptive reuse.
    • Mixed‑use zoning allows for redevelopment, supported by LERTA and CRIZ incentives.
    • Asking price: $4,700,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -76.3093178
    Latitude
    40.0494483

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    FAQs

    What type of property is this?
    Multifamily property - Mixed-use, 103,672 SF, high visibility
    Where is this multifamily property located?
    The property is located at 723 Prince St Lancaster, PA.
    What is the asking price?
    The asking price for this property is $4,700,000.
    What are key features of this property?
    This property features: 103,672 SF mixed-use building on a 1.12-acre lot in Lancaster, PA.; Prime location across from Clipper Magazine Stadium with high traffic visibility (approx. 13,000 vehicles daily).; Currently houses an auto service/showroom and former tobacco warehouse, ideal for adaptive reuse.
    (717) 431-8300
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    723 Prince St Lancaster, PA 17603
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    Lancaster, PA 17603
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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
    723 Prince St Lancaster, PA 17603
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