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Property profile & analytics
OFF-MARKET
Estimated value
$9,205,000
Commercial real estate
1801 Columbia Ave Lancaster, PA 17603-4335
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US73-2295041
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
57,954 SF
Lot
5.3 ac (230,868 SF)
Zoning code
HC
APN
290-06304-0-0000
UPID
US73-2295041
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
-
Empire Beauty School Vocational School Training Center
-
Spirit Halloween (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.08M
Comparable Approach
Comparable
$9.71M
Blend (final)
Blend
$9.21M
Owner & transaction history
Nico Wheatland LLC · 9 yrs held
Nico Wheatland LLC
since 2017
4 recorded transactions
Zoning & alternative use
HC · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
CAP Approach
CAP Return
Estimation
6%
$11,995,000
6.5%
$11,075,000
7%
$10,285,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$15,020,000
Current use
MEDICAL BUILDING
$13,195,000
Change: -12% · Conversion: Easy
RETAIL STORES
$12,620,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$9.21M
Range $8.28M – $10.13M · ±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
$159 / 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
$8,590
Tax year 2024
Assessed value
$397,500
Assessed 2024
Previous assessed
$397,500
+0.0% YoY
Effective rate
2.16%
On assessed value
Assessed land
$397,500
Land market value
$397,500
Total market value
$397,500
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
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
Off-Market
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
57,954 SF
Lot
5.3 ac (230,868 SF)
Zoning code
HC
APN
290-06304-0-0000
UPID
US73-2295041
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
COMMERCIAL (GENERAL) Current
Est. value
$15.0M
MEDICAL BUILDING
Est. value
$13.2M
RETAIL STORES
Est. value
$12.6M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
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
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
5.3 ac
Current owner
From public records · entity-resolved
Nico Wheatland LLC
Entity
Mailing address
301 CLEMATIS ST STE #3000, WEST PALM BEACH, FL 33401-4609
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 9, 2021
—
Nico Wheatland LLC
—
Deed
related
$3,275,000 · Fulton Bank NA
Jan 11, 2017
$4,560,000
Nico Wheatland LLC
Homewood Realty
Deed
$3,420 · Fulton Bank NA
Aug 29, 2005
—
Rlty Homewood
Owner,record
Grant Deed
related
—
Aug 4, 2004
$2,200,000
Realty Homewood
E Hempfield Township Indl Dev
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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