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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Warehouses
1223 Manheim Pike Lancaster, PA 17601-3121
Individually Owned
2-yr Hold
Free & Clear
Property ID
US73-2122962
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1987
Construction
STEEL FRAME
Total area
7,290 SF
Lot
1.28 ac (55,757 SF)
Zoning code
CM
APN
339-65601-0-0000
UPID
US73-2122962
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
Current use
Occupant on record · Public records
-
Conestoga Heating & Air Conditioning Supply Big Box & Wholesale Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$475k
CAP Approach
CAP
$760k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$685k
Owner & transaction history
George J Grove JR · 2 yrs held
George J Grove JR
since 2023
1 recorded transaction
Zoning & alternative use
CM · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+13.2%
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
$475,000
CAP Approach
CAP Return
Estimation
6%
$820,000
6.5%
$760,000
7%
$705,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$990,000
Current use
AUTO REPAIR, GARAGE
$1,120,000
Change: +13% · Conversion: Easy
INDUSTRIAL (GENERAL)
$835,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$685k
Range $617k – $754k · ±10%
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
$94 / 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
$16,279
Tax year 2024
Assessed value
$411,400
Assessed 2024
Previous assessed
$411,400
+0.0% YoY
Effective rate
3.96%
On assessed value
Assessed land
$196,800
Assessed improvement
$214,600
Land market value
$196,800
Improvement market value
$214,600
Total market value
$411,400
Applied tax rate
339.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Total area
7,290 SF
Lot
1.28 ac (55,757 SF)
Zoning code
CM
APN
339-65601-0-0000
UPID
US73-2122962
Jurisdiction
LANCASTER
Zoning & alternative use
CM · Lancaster, PA
Zoning CM · permitted uses
CM · Lancaster, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lancaster. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$990,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$835,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1987
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Lot
1.28 ac
Current owner
From public records · entity-resolved
George J Grove JR
Individual
Free & Clear · 2 yrs held
Mailing address
1421 RDG RD, LANCASTER, PA 17603-4735
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2023
—
George J Grove JR
George J Grove JR
Intrafamily Transfer
related
—
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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