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Property profile & analytics
OFF-MARKET
Estimated value
$4,080,000
Manufacturing properties
119 Tree Dr Lancaster, PA 17603-4081
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US73-1271919
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
42,390 SF
Lot
4.1 ac (178,596 SF)
Zoning code
I-1
APN
290-23909-0-0000
UPID
US73-1271919
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.63M
Comparable Approach
Comparable
$5.07M
Blend (final)
Blend
$4.08M
Owner & transaction history
Penex Holdings LLC · 4 yrs held
Penex Holdings LLC
since 2022
Last sale
$4.3M
2 recorded transactions
Zoning & alternative use
I-1 · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.5M
+34.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lancaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lancaster submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,935,000
6.5%
$3,630,000
7%
$3,375,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$4,850,000
Current use
AUTO REPAIR, GARAGE
$6,505,000
Change: +34% · Conversion: Easy
Blend value · Realmo final
$4.08M
Range $3.67M – $4.49M · ±10% · vs last sale $4.30M (Aug 2 2022)
Last sale anchor
$4.30M
Aug 2 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$96 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$34,555
Tax year 2024
Assessed value
$1,599,000
Assessed 2024
Previous assessed
$1,599,000
+0.0% YoY
Effective rate
2.16%
On assessed value
Assessed land
$337,800
Assessed improvement
$1,261,200
Land market value
$337,800
Improvement market value
$1,261,200
Total market value
$1,599,000
Applied tax rate
290.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
42,390 SF
Lot
4.1 ac (178,596 SF)
Zoning code
I-1
APN
290-23909-0-0000
UPID
US73-1271919
Jurisdiction
LANCASTER
Zoning & alternative use
I-1 · Lancaster, PAZoning I-1 · permitted uses
I-1 · Lancaster, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$4.9M
AUTO REPAIR, GARAGE
Est. value
$6.5M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
4.1 ac
Current owner
From public records · entity-resolved
Penex Holdings LLC
Entity
Mailing address
13 RADIANT HL, LAKEWOOD, NJ 08701-4988
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2022
$4,300,000
Penex Holdings LLC
119 South Tree Drive LP
Deed
$2,950,000 · Lakeland Bank
Jan 3, 2006
$1,417,000
119 South Tree Drive
East Hempfield Township Ind
Grant Deed
$1,400,000 · Margaretha G Dodge
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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