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Property profile & analytics
OFF-MARKET
Estimated value
$17,525,000
Warehouses
1480 Zeager Rd, Elizabethtown, PA 17022-8756
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US73-0855777
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2009
Construction
CONCRETE
Total area
144,000 SF
Lot
22.46 ac (978,358 SF)
Zoning code
I
APN
160-18269-0-0000
UPID
US73-0855777
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
$14.98M
Comparable Approach
Comparable
$21.17M
Blend (final)
Blend
$17.53M
Owner & transaction history
1480 Zeager Road Investors LLC · 1 yrs held
1480 Zeager Road Investors LLC
since 2024
Last sale
$17.0M
6 recorded transactions
Zoning & alternative use
I · Elizabethtown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$29.2M
+59.5%
Medical building
$29.0M
+58.6%
Auto repair, garage
$24.0M
+31.1%
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 Elizabethtown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elizabethtown 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%
$16,230,000
6.5%
$14,980,000
7%
$13,910,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$18,290,000
Current use
RESTAURANT
$29,180,000
Change: +60% · Conversion: Difficult
MEDICAL BUILDING
$29,015,000
Change: +59% · Conversion: Difficult
AUTO REPAIR, GARAGE
$23,980,000
Change: +31% · Conversion: Easy
COMMERCIAL (GENERAL)
$23,025,000
Change: +26% · Conversion: Difficult
RETAIL STORES
$22,925,000
Change: +25% · Conversion: Moderate
Blend value · Realmo final
$17.53M
Range $15.77M – $19.28M · ±10% · vs last sale $16.98M (Mar 27 2024)
Last sale anchor
$16.98M
Mar 27 2024
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
$122 / 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
$195,884
Tax year 2024
Assessed value
$8,203,500
Assessed 2024
Previous assessed
$8,203,500
+0.0% YoY
Effective rate
2.39%
On assessed value
Assessed land
$795,400
Assessed improvement
$7,408,100
Land market value
$795,400
Improvement market value
$7,408,100
Total market value
$8,203,500
Applied tax rate
160.0000
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
2009
Construction
CONCRETE
Heating
FORCED AIR
Stories
1
Total area
144,000 SF
Lot
22.46 ac (978,358 SF)
Zoning code
I
APN
160-18269-0-0000
UPID
US73-0855777
Jurisdiction
LANCASTER
Zoning & alternative use
I · Elizabethtown, PA
Zoning I · permitted uses
I · Elizabethtown, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elizabethtown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$18.3M
RESTAURANT
Est. value
$29.2M
MEDICAL BUILDING
Est. value
$29.0M
AUTO REPAIR, GARAGE
Est. value
$24.0M
COMMERCIAL (GENERAL)
Est. value
$23.0M
RETAIL STORES
Est. value
$22.9M
WAREHOUSE, STORAGE Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
2009
Construction
CONCRETE
Heating
FORCED AIR
Stories
1
Lot
22.46 ac
Current owner
From public records · entity-resolved
1480 Zeager Road Investors LLC
Entity
Mailing address
601 E GOWEN RD STE #208, BOISE, ID 83716-6607
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2024
$16,976,170
1480 Zeager Road Investors LLC
Shoemaker Properties LLC
Special Warranty Deed
$10,500,000 · Old Second National Bank
Jul 25, 2019
—
Shoemaker Properties LLC
—
Deed
related
$6,000,000 · Us Bank NA
Jul 18, 2019
—
Shoemaker Properties LLC
—
Deed
related
$3,400,000 · Us Bank NA
Apr 19, 2013
—
Shoemaker Properties LLC
—
Deed Of Trust
related
$5,475,000 · Bank Of The West
Apr 16, 2010
$8,015,535
Shoemaker Properties LLC
Zr INC
Grant Deed
—
Jun 12, 2008
$600,000
Zr INC
Conewago Indl Park Assocs
Grant Deed
—
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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