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

    1800 Millersville Rd Lancaster, PA 17603

    • Sports & entertainment properties
    • 3,968 SF
    • 37.02 lot acres
    OFF-MARKET
    Value Estimations
    $735,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-3111579
    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

    • Sports & entertainment properties

    Property Details for 1800 Millersville Rd

    Year built
    1990
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    37.02 lot acres
    Property size
    3,968 SF
    Zone code
    S
    Property type
    Sports & entertainment properties
    APN
    340-79050-0-0000
    APU
    3407905000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $770,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $697,000
      Market price range: $232k - $697k

    • Alternative Use

      Use
      Estimation
      RECREATIONAL/ENTERTAINMENT (GENERAL)
      $445,000
      Current use
      COMMERCIAL (GENERAL)
      $980,000
      Change: +120% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $515,000
      Change: +16% Conversion: Difficult
      RETAIL STORES
      $490,000
      Change: +10% Conversion: Difficult
      MEDICAL BUILDING
      $470,000
      Change: +5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.3421
    Latitude
    40.0064
    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
    $59,782
    $1,710,600
    $362,300
    $2,072,900
    -
    $1,710,600
    $362,300
    $2,072,900

    Comparable in this City

    • Value Estimation
      $1,060,000
      14.11 Acres

      580 Prince St

      RECREATIONAL, ENTERTAINMENT • 14.11 Acres
      580 Prince St, Lancaster, PA 17603
      View Details
    • Value Estimation
      $18,205,000
      34.24 Acres

      401 Liberty St

      STADIUM • 34.24 Acres
      401 Liberty St, Lancaster, PA 17603-2728
      View Details
    • Value Estimation
      $640,000
      3,784 SF

      1420 Columbia Ave

      RECREATIONAL, ENTERTAINMENT • 3,784 SF
      1420 Columbia Ave, Lancaster, PA 17603
      View Details
    • Value Estimation
      $600,000
      9,282 SF

      343 New Dorwart St

      RECREATIONAL, ENTERTAINMENT • 9,282 SF
      343 New Dorwart St, Lancaster, PA 17603-5223
      View Details
    • Value Estimation by Request
      3,223 SF

      838 Saint Joseph St

      RECREATIONAL, ENTERTAINMENT • 3,223 SF
      838 Saint Joseph St, Lancaster, PA 17603-5464
      View Details
    • Value Estimation
      $755,000
      4,431 SF

      2615 Columbia Ave

      RECREATIONAL, ENTERTAINMENT • 4,431 SF
      2615 Columbia Ave, Lancaster, PA 17603-4113
      View Details

    Similar Nearby for Sale

    • $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
    • $10,995,000
      77,294 SF

      Lancaster City Center Office Building

      Prime Lancaster location, 77,294 SF, multi-tenant
      100 Queen St, Lancaster, PA 17603
      View Details
    • $200,000
      949 SF

      Bright Corner Unit Condo

      Spacious 2 bed, 2 bath condo in Lancaster City.
      917 Columbia Ave, Lancaster, PA 17603
      View Details
    • $695,000
      3.50 Acres

      Land in Lancaster, Pennsylvania

      3.5 acre commercial land suitable for warehouse development.
      Charlestown Rd, Lancaster, PA 17603
      View Details
    • $565,000
      768 SF

      Lancaster Multifamily Investment Opportunity

      Well-maintained 5-unit apartment building generating $55,800 annually.
      215 W Vine St, Lancaster, PA 17603
      View Details
    • $1,966,800
      6.56 Acres

      Lancaster Commercial Land - 6.56 Acres

      Prime Commercial Lot, Lancaster, PA
      0 Centerville Rd, Lancaster, PA 17603
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      5,662 SF

      Lancaster Office Space for Lease

      Flexible Offices in Prime Location
      50 3Rd St, Lancaster, PA 17603
      View Details
    • $11 SF/Yr
      3,764 SF

      King Street Retail Space

      Prime Downtown Retail Opportunity
      110 King St, Lancaster, PA 17603
      View Details
    • $41 SF/Yr
      7,800 SF

      210 Grant St

      Office space • 7,800 SF
      210 Grant St, Lancaster, PA 17603
      View Details
    • $11 SF/Yr
      75,483 SF

      Wheatland Place Office Suites

      Lancaster City professional office space
      941 Wheatland Ave, Lancaster, PA 17603
      View Details
    • $3,500 /Mo
      36,000 SF

      Office Space Near Route 30

      3,000 SF office space with easy access to Route 30.
      2969 Old Tree Dr, Lancaster, PA 17603
      View Details
    • Contact for pricing
      2,600 SF

      Lancaster Retail Space For Rent

      Retail space available in Wheatland Shopping Center, Lancaster, PA.
      1801-1835 Columbia Ave, 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.
    1800 Millersville Rd
    Lancaster, PA 17603
    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.