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    Property profile & analytics

    1788 Columbia Ave Columbia, PA 17512

    • Lifestyle centers
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 1788 Columbia Ave

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Columbia Shopping Center, located at 1788 Columbia Ave, Columbia, PA 17512, offers exceptional retail space for lease. This anchored shopping center boasts a prime location in Lancaster County, situated at a fully signalized intersection off Route 462, providing easy access to Route 30 and the broader Lancaster County area. The center enjoys strong co-tenancy with established national brands including Weis Markets, McDonald's, Ace Hardware, Verizon Wireless, Planet Fitness, and Rite Aid. This ensures high foot traffic and visibility for prospective tenants. The property features ample parking for customer convenience and prominent pylon signage opportunities for enhanced brand awareness. Currently, there are two available spaces ranging from 1,600 to 4,731 square feet, suitable for a variety of retail, office, or restaurant uses. This presents a unique opportunity to establish a presence in a thriving market within a well-established and successful shopping center. The property's strategic location and strong tenant mix make it an ideal investment for businesses seeking high visibility and significant customer reach in the heart of Columbia, Pennsylvania.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Columbia
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.4739
    Latitude
    40.0312

    Comparable in this City

    • Value Estimation
      $1,985,000
      105,327 SF

      1786th Columbia Ave

      MINI-MALL • 105,327 SF
      1786th Columbia Ave, Columbia, PA 17512-9508
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    • Value Estimation
      $1,240,000
      45,836 SF

      923 Barber St

      SHOPPING CENTER, STRIP CENTER • 45,836 SF
      923 Barber St, Columbia, PA 17512
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    • Value Estimation by Request
      4,500 SF

      431 Locust St

      Coworking space • 4,500 SF
      431 Locust St, Columbia, PA 17512
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    • Value Estimation
      $940,000
      12,000 SF

      522 Walnut St

      PARKING LOT • 12,000 SF
      522 Walnut St, Columbia, PA 17512
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    • Value Estimation by Request
      1,080 SF

      452 Ave J J

      PARKING GARAGE, PARKING STRUCTURE • 1,080 SF
      452 Ave J J, Columbia, PA 17512
      View Details
    • Value Estimation
      $540,000
      27,389 SF

      1280 Franklin St

      GYM, HEALTH SPA • 27,389 SF
      1280 Franklin St, Columbia, PA 17512-1921
      View Details

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    Similar Nearby for Lease

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      6,331 SF

      Columbia Shopping Center: Retail Space Available

      High-traffic retail spaces for lease in Columbia, PA.
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    • $18 SF/Yr
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      Downtown Columbia Retail Space

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      Downtown Columbia Retail Space Available

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      8,500 SF warehouse space with ample parking available for lease.
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      View Details
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    1788 Columbia Ave
    Columbia, PA 17512
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    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
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