Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1491 Mnr Blvd Lancaster, PA 17603-5924

    • Research & development properties
    • 1.00 lot acres
    OFF-MARKET
    Value Estimations
    $345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2646862
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Research & development properties

    Property Details for 1491 Mnr Blvd

    Lot size
    1.00 lot acres
    Zone code
    RM
    Property type
    Research & development properties
    APN
    410-96394-0-0000
    APU
    4109639400000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.3701
    Latitude
    40.0176
    CBSA code
    29540
    CBSA name
    LANCASTER, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $328
    $15,000
    $0.00
    $15,000
    -
    $15,000
    $0.00
    $15,000

    Comparable in this City

    • Value Estimation
      $360,000
      119 SF

      Hostetter Rd

      WASTE DISPOSAL, SEWAGE • 119 SF
      Hostetter Rd, Lancaster, PA 17603
      View Details
    • Value Estimation
      $330,000
      238 SF

      1022 Monticello Lna

      WASTE DISPOSAL, SEWAGE • 238 SF
      1022 Monticello Lna, Lancaster, PA 17603-9407
      View Details
    • Value Estimation
      $350,000
      238 SF

      1990 Wabank Rd, Unit A

      WASTE DISPOSAL, SEWAGE • 238 SF
      1990 Wabank Rd, Lancaster, PA 17603
      View Details
    • Value Estimation
      $330,000
      224 SF

      43 Rosewood Dr

      WASTE DISPOSAL, SEWAGE • 224 SF
      43 Rosewood Dr, Lancaster, PA 17603
      View Details
    • Value Estimation
      $345,000
      260 SF

      1775 Wabank Rd

      WASTE DISPOSAL, SEWAGE • 260 SF
      1775 Wabank Rd, Lancaster, PA 17603
      View Details
    • Value Estimation
      $305,000
      168 SF

      1016 Fieldstone Cta

      WASTE DISPOSAL, SEWAGE • 168 SF
      1016 Fieldstone Cta, Lancaster, PA 17603-9786
      View Details

    Similar Nearby for Sale

    • $3,995,000
      137,878 SF

      Lancaster Industrial Campus - Prime Location

      Large industrial complex, office building, parking.
      652 Manor St, Lancaster, PA 17603
      View Details
    • $1,150,000
      6,402 SF

      Lancaster Flex Building For Sale

      6,402 SF flex building in thriving Lancaster area.
      841 N Prince St, Lancaster, PA 17603
      View Details
    • Contact for pricing

      Lancaster Industrial Building For Sale

      208,993 SF industrial building with long-term tenant.
      301 Richardson Dr, Lancaster, PA 17603
      View Details
    • $900,000
      5,420 SF

      Lancaster Self Storage Investment

      High-Occupancy Industrial Property
      33 Old Dorwart St, Lancaster, PA 17603
      View Details
    • $900,000
      5,420 SF

      Lancaster City Storage Units For Sale

      56-unit storage facility in Lancaster, PA with 100% occupancy.
      33 Old Dorwart St, Lancaster, PA 17603
      View Details
    • $4,700,000
      103,672 SF

      Downtown Lancaster Redevelopment Opportunity

      Mixed-use, 103,672 SF, high visibility
      723 Prince St, Lancaster, PA 17603
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      3,500 SF

      Lancaster City Versatile Leasing Opportunity

      Prime property with retail, office, and warehouse spaces for lease.
      220 Hazel St, Lancaster, PA 17603
      View Details
    • $117,131

      Industrial Property for Rent

      Industrial property available for lease in Lancaster, Pennsylvania.
      652 Manor St, Lancaster, PA 17603
      View Details
    • $371,250
      48,787 SF

      Lancaster Commercial Space For Lease

      Prime leasing opportunity in Lancaster's energetic redevelopment corridor.
      717-723 N Prince St, Lancaster, PA 17603
      View Details
    • $247,500
      48,787 SF

      Lancaster Commercial Space For Lease

      Prime leasing opportunity in Lancaster's energetic redevelopment corridor.
      717-723 N Prince St, Lancaster, PA 17603
      View Details
    • $247,500
      48,787 SF

      Prime Lancaster Commercial Leasing Opportunity

      Flexible spaces for office, retail, or warehouse tenants in Lancaster.
      717-723 N Prince St, Lancaster, PA 17603
      View Details
    • $495,000
      48,787 SF

      Lancaster Mixed-Use Redevelopment Opportunity

      Prime leasing opportunity in Lancaster's energetic redevelopment corridor.
      717-723 N Prince St, Lancaster, PA 17603
      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.
    1491 Mnr Blvd
    Lancaster, PA 17603-5924
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.