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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Medical Office Space
1601 Columbia Ave Lancaster, PA 17603-4528
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US73-0306759
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1930
Construction
FRAME
Total area
2,696 SF
Lot
0.12 ac (5,227 SF)
Zoning code
HC
APN
290-69325-0-0000
UPID
US73-0306759
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
-
Kettering Barbara Physician Medical Clinic
-
Lancaster County Chiropractic Medical Clinic Physician
-
Kettering Chiropractic Health Center Alternative Medicine Practice
-
Harriger Chiropractic: Harriger Janet L DC Alternative Medicine Practice
-
Dr. Andrew Kettering Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$405k
CAP Approach
CAP
$605k
Comparable Approach
Comparable
$652k
Blend (final)
Blend
$500k
Owner & transaction history
Iak LLC · 7 yrs held
Iak LLC
since 2018
5 recorded transactions
Zoning & alternative use
HC · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$700,000
+13.8%
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
$405,000
CAP Approach
CAP Return
Estimation
6%
$655,000
6.5%
$605,000
7%
$560,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$615,000
Current use
COMMERCIAL (GENERAL)
$700,000
Change: +14% · Conversion: Easy
RETAIL STORES
$585,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$185 / 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
$6,423
Tax year 2024
Assessed value
$297,200
Assessed 2024
Previous assessed
$297,200
+0.0% YoY
Effective rate
2.16%
On assessed value
Assessed land
$141,300
Assessed improvement
$155,900
Land market value
$141,300
Improvement market value
$155,900
Total market value
$297,200
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1930
Construction
FRAME
Heating
FORCED AIR
Stories
2
Total area
2,696 SF
Lot
0.12 ac (5,227 SF)
Zoning code
HC
APN
290-69325-0-0000
UPID
US73-0306759
Jurisdiction
LANCASTER
Zoning & alternative use
HC · Lancaster, PA
Zoning HC · permitted uses
HC · 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
MEDICAL BUILDING Current
Est. value
$615,000
COMMERCIAL (GENERAL)
Est. value
$700,000
RETAIL STORES
Est. value
$585,000
MEDICAL BUILDING Current
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
1930
Construction
FRAME
Heating
FORCED AIR
Stories
2
Lot
0.12 ac
Current owner
From public records · entity-resolved
Iak LLC
Entity
Mailing address
500 NORWOOD RD, COLUMBIA, PA 17512-9415
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2021
—
Iak LLC
—
Deed
related
$250,000 · Orrstown Bank
Nov 16, 2018
$298,000
Iak LLC
Richard L Kettering
Deed
$225,000 · Orrstown Bank
Oct 27, 2016
—
Richard L Kettering
—
Deed
related
$75,000 · Orrstown Bank
Jul 3, 2002
$184,000
Richard L Kettering
Gregory L Heisey Trustee
Grant Deed
$156,400 · Citizens Bank Pennsylvania
Jan 26, 2001
$212,000
Mark J Schillaci
Heisey,gregory L & Anne L
Grant Deed
$169,600 · Sovereign Bank
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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