Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2005 Miller Rd East Petersburg, PA 17520

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2005 Miller Rd East Petersburg, PA 17520

    View on Map
    • Retail properties & Spaces
    • 25,140 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • JB2 Inspections - Consulting / Consultant / Home Inspector

    Property Details for 2005 Miller Rd

    Property size
    25,140 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    Village Commons, located at 2005 Miller Rd in East Petersburg, PA 17520, offers exceptional retail space within an attractive neighborhood shopping center. This prime location boasts high visibility at a signalized intersection along Route 72, ensuring maximum exposure for your business. The property consists of two newly constructed retail buildings, completed in 2014, totaling 25,140 square feet. Currently, two spaces are available, ranging in size from 810 to 1750 square feet, providing flexibility for various retail concepts. The center enjoys a strong tenant mix, including a US Post Office branch and Lancaster General Health, creating a vibrant and well-established commercial environment. This is a fantastic opportunity to establish or expand your business in a thriving Lancaster County community. The property's strategic location and modern construction make it an ideal choice for businesses seeking high visibility and a strong customer base. The multiple tenancy structure offers a diverse and established community of businesses. This is a rare opportunity to secure retail space in a well-maintained and highly visible location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    East Petersburg
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.3501
    Latitude
    40.0942

    Comparable in this City

    • Value Estimation by Request
      1,930 SF

      2025 State St

      RETAIL STORES (PERSONAL SERVICES) • 1,930 SF
      2025 State St, East Petersburg, PA 17520-1216
      View Details
    • Value Estimation
      $1,100,000
      12,381 SF

      5939 Main St

      RETAIL STORES (PERSONAL SERVICES) • 12,381 SF
      5939 Main St, East Petersburg, PA 17520-1519
      View Details
    • Value Estimation
      $1,075,000
      6,996 SF

      5375 Main St

      RETAIL STORES (PERSONAL SERVICES) • 6,996 SF
      5375 Main St, East Petersburg, PA 17520-1609
      View Details
    • Value Estimation
      $2,270,000
      17,400 SF

      5139 Main St

      RETAIL STORES (PERSONAL SERVICES) • 17,400 SF
      5139 Main St, East Petersburg, PA 17520-1605
      View Details
    • Value Estimation by Request
      1,077 SF

      1991 Miller Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,077 SF
      1991 Miller Rd, East Petersburg, PA 17520-1330
      View Details
    • Value Estimation
      $3,925,000
      31,292 SF

      5253 Main St

      RETAIL STORES (PERSONAL SERVICES) • 31,292 SF
      5253 Main St, East Petersburg, PA 17520-1607
      View Details

    Similar Nearby for Sale

    • $1,495,000
      13,900 SF

      Enterprise Court Commercial Property

      Commercial property for sale in East Petersburg, Pennsylvania.
      1176 Enterprise Ct, East Petersburg, PA 17520
      View Details
    • Contact for pricing
      2,550 SF

      Family Restaurant Business Opportunity

      Reputable family restaurant for sale in a good location.
      2222 Main St, Lancaster, PA 17520
      View Details
    • $1,495,000

      Flex Building in East Petersburg

      Freestanding flex building with office and warehouse space for rent.
      1176 Enterprise Ct, East Petersburg, PA 17520
      View Details

    Similar Nearby for Lease

    • $75,000
      31,363 SF

      East Petersburg Commercial Space Available

      Versatile commercial space suitable for retail or office use.
      5984 Main St, East Petersburg, PA 17520
      View Details
    • $60,000
      31,363 SF

      Versatile Commercial Space in EAST PETERSBURG

      Adaptable commercial space suitable for retail or office use.
      5984 Main St, East Petersburg, PA 17520
      View Details
    • $18,000 /Mo
      87,120 SF

      EAST PETERSBURG Retail/Office Space

      1,000 SF retail or office space available for lease.
      5313 Main St, East Petersburg, PA 17520
      View Details
    • Contact for pricing
      1,290 SF

      East Petersburg Retail/Office Space

      Retail or office space with high visibility and traffic.
      5345 Main St, East Petersburg, PA 17520
      View Details
    • Contact for pricing

      Neighborhood Shopping Center For Rent

      High-exposure shopping center at signalized intersection, re-developed in 2014.
      2005 Miller Rd, East Petersburg, PA 17520
      View Details
    • Contact for pricing
      1,750 SF

      Retail Space in East Petersburg

      Neighborhood shopping center with high exposure and variety of tenants.
      5503 Main St, East Petersburg, PA 17520
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2005 Miller Rd
    East Petersburg, PA 17520
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!