Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    1608 Lititz Pike Lancaster, PA 17601-6517

    • Medical offices
    • 3,566 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    $415,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1047432
    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

    • Spa Levin / Medical Spa / Beauty

    Property Details for 1608 Lititz Pike

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.50 lot acres
    Property size
    3,566 SF
    Zone code
    B-1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    390-11874-0-0000
    APU
    3901187400000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $636,000
      Market price range: $423k - $1.06M
      AI Estimate
      $371,000
      Market price range: $270k - $674k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.3079
    Latitude
    40.0679
    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
    $8,283
    $187,500
    $195,300
    $382,800
    -
    $187,500
    $195,300
    $382,800

    Comparable in this City

    • Value Estimation
      $1,835,000
      79,358 SF

      2100 Harrisburg Pike

      MEDICAL BUILDING • 79,358 SF
      2100 Harrisburg Pike, Lancaster, PA 17601-2644
      View Details
    • Value Estimation
      $1,525,000
      30,640 SF

      810 Plz Blvd

      MEDICAL BUILDING • 30,640 SF
      810 Plz Blvd, Lancaster, PA 17601-2762
      View Details
    • Value Estimation
      $1,635,000
      37,099 SF

      170 Pointe Blvd

      MEDICAL BUILDING • 37,099 SF
      170 Pointe Blvd, Lancaster, PA 17601-4132
      View Details
    • Value Estimation
      $360,000
      3,040 SF

      394 Roseville Rd

      MEDICAL BUILDING • 3,040 SF
      394 Roseville Rd, Lancaster, PA 17601-3841
      View Details
    • Value Estimation
      $1,970,000
      7,264 SF

      108 Foxshire Dr

      MEDICAL BUILDING • 7,264 SF
      108 Foxshire Dr, Lancaster, PA 17601-3982
      View Details
    • Value Estimation
      $495,000
      5,875 SF

      2445 Marietta Ave

      MEDICAL BUILDING • 5,875 SF
      2445 Marietta Ave, Lancaster, PA 17601-1942
      View Details

    Similar Nearby for Sale

    • $1,950,000
      15,710 SF

      Medical Building Near Residential Community

      Three-story medical building with grade-level entrances and elevator access.
      3045 Marietta Ave, Lancaster, PA 17601
      View Details
    • Contact for pricing

      Lancaster Office Space - Harrisburg Pike

      High-visibility office, ample parking, great location.
      1368 Harrisburg Pike, Lancaster, PA 17601
      View Details
    • Contact for pricing

      Lancaster Office Suite - Prime Location

      First-floor corner office, six private offices.
      120 Pointe Blvd, Lancaster, PA 17601
      View Details
    • $1,775,000
      2.12 Acres

      Lancaster Industrial Land - $1.775M

      Prime Lancaster County industrial lots
      0 Corporate Blvd And Marietta Ave, Lancaster, PA 17601
      View Details
    • Contact for pricing
      3.59 Acres

      Stony Battery Land - Lancaster, PA

      Prime Lancaster County industrial land for sale/lease
      0 Corporate Blvd And Marietta Ave, Lancaster, PA 17601
      View Details
    • New
      $608,500
      0.97 Acres

      Prime Building Lot on Blossom Hill

      0.973-acre wooded lot to create your dream home.
      240 Northview Dr, Lancaster, PA 17601
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Marietta Ave. Medical Office Land

      1.17-acre build-to-suit opportunity.
      3546 Marietta Ave, Lancaster, PA 17601
      View Details
    • Contact for pricing
      52,026 SF

      Lancaster Office Park Investment

      Prime Lancaster office space, 8 buildings.
      0 Eden Rd, Lancaster, PA 17601
      View Details
    • $15 SF/Yr
      1,635 SF

      Lancaster Office Space Available

      Prime Lancaster location, multiple suites, renovated in 2020.
      1392 Harrisburg Pike, Lancaster, PA 17601
      View Details
    • Contact for pricing
      25,887 SF

      Fruitville Pike Center: Lancaster Office Space

      High-visibility Lancaster office & retail suites.
      1353 Fruitville Pike, Lancaster, PA 17601
      View Details
    • Contact for pricing
      4,945 SF

      Medical Office Near Park City

      Medical office space for lease near Park City Mall.
      810 Plaza Blvd, Lancaster, PA 17601
      View Details
    • $23 SF/Yr
      53,207 SF

      Lancaster Office/Medical Building for Rent

      53,207 SF office/medical building with flexible zoning and ample parking.
      3050 Hempland Rd, Lancaster, PA 17601
      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.
    1608 Lititz Pike
    Lancaster, PA 17601-6517
    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.