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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1801 Hempstead Rd Lancaster, PA 17601-5671

    • Retail space
    • 45,896 SF
    • 6.24 lot acres
    OFF-MARKET
    Last Sale
    Apr 06, 2021
    $6,600,000
    Value Estimations
    $8,240,000
    Show details
    Cap Rate Potential
    6.7%
    Retail space
    Location Intelligence
    Property ID
    US73-1050478
    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

    • Pitney Road Plaza / Shopping Mall
    • Bob's Discount Furniture and Mattress Store / Children'S Furniture Store / Home Goods Store

    Property Details for 1801 Hempstead Rd

    Year built
    2009
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    6.24 lot acres
    Property size
    45,896 SF
    Property type
    Retail space
    APN
    810-55289-0-0000
    APU
    8105528900000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,050,000
      ML approach
      $9,685,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,000,000
      6.5%
      $8,310,000
      7%
      $7,715,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,206,000
      Market price range: $5.62M - $14.5M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $9,325,000
      Current use
      RESTAURANT
      $10,690,000
      Change: +15% Conversion: Easy
      MEDICAL BUILDING
      $10,450,000
      Change: +12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.2602
    Latitude
    40.0536
    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
    $140,382
    $614,400
    $3,924,500
    $4,538,900
    -
    $614,400
    $3,924,500
    $4,538,900

    Comparable in this City

    • Value Estimation
      $3,340,000
      30,017 SF

      1700 Fruitville Pike Ste B

      RETAIL STORES (PERSONAL SERVICES) • 30,017 SF
      1700 Fruitville Pike Ste B, Lancaster, PA 17601-4098
      View Details
    • Value Estimation
      $18,375,000
      119,744 SF

      2002 Fruitville Pike

      RETAIL STORES (PERSONAL SERVICES) • 119,744 SF
      2002 Fruitville Pike, Lancaster, PA 17601-7200
      View Details
    • Value Estimation
      $3,175,000
      26,751 SF

      1700 Fruitville Pike Ste H

      RETAIL STORES (PERSONAL SERVICES) • 26,751 SF
      1700 Fruitville Pike Ste H, Lancaster, PA 17601-4098
      View Details
    • Value Estimation
      $1,720,000
      11,492 SF

      1950 Fruitville Pike

      RETAIL STORES (PERSONAL SERVICES) • 11,492 SF
      1950 Fruitville Pike, Lancaster, PA 17601-3916
      View Details
    • Value Estimation
      $1,395,000
      8,556 SF

      518 Greenfield Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,556 SF
      518 Greenfield Rd, Lancaster, PA 17601-5828
      View Details
    • Value Estimation
      $600,000
      5,889 SF

      799 Flory Ml Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,889 SF
      799 Flory Ml Rd, Lancaster, PA 17601-2733
      View Details

    Similar Nearby for Sale

    • $300,000

      Lancaster County Liquor License

      Liquor license for sale in Lancaster County, Pennsylvania.
      Pa Liquor License, Lancaster, PA 17601
      View Details
    • Contact for pricing

      Retail Space on Fruitville Pike

      Retail space with dedicated entrance and shared parking.
      1700 Fruitville Pike, Lancaster, PA 17601
      View Details
    • $300,000

      Lancaster County Restaurant Liquor License

      Restaurant liquor license transferable within Lancaster County, Pennsylvania.
      102 103, Lancaster, PA 17601
      View Details
    • New
      $999,000

      Lancaster Car Wash Business Opportunity

      Turnkey car wash business with high visibility in Lancaster, PA.
      320 Granite Run Dr, Lancaster, PA 17601
      View Details
    • $400,000
      3,863 SF

      Lancaster Restaurant Business For Sale

      Turn-key pub-style restaurant with indoor and outdoor seating in high-traffic area.
      2347 103, 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

    Similar Nearby for Lease

    • $22 SF/Yr
      3,000 SF

      Centrally Located Retail Sublease Opportunity

      Sublease opportunity with open floor plan and recent updates.
      1890 Fruitville Pike, Lancaster, PA 17601
      View Details
    • $22 SF/Yr
      3,000 SF

      Towne Center Retail Sublease

      Centrally located retail space with open floor plan.
      1848 Fruitville Pike, Lancaster, PA 17601
      View Details
    • $18 SF/Yr
      12,180 SF

      Retail Space in Greenfield

      Retail space available in a high-traffic area of Greenfield.
      555-565 Greenfield Rd, Lancaster, PA 17601
      View Details
    • Contact for pricing
      11,000 SF

      Retail Space in Lancaster, PA

      Retail space available for lease in Lancaster, Pennsylvania.
      566 Lausch Ln, Lancaster, PA 17601
      View Details
    • $14 SF/Yr
      2,435 SF

      Retail Space in Olde Hickory

      Ground-level corner suite in a shopping center for rent.
      725 Olde Hickory Rd, Lancaster, PA 17601
      View Details
    • $8,057 /Mo
      344,124 SF

      Bloomfield Village Retail Space Available

      Retail space for lease in a busy Lancaster shopping center.
      235-245 Bloomfield Dr, Lancaster, PA 17601
      View Details

    Property Visit Statistics

    • Visits by month
      5.0k
    • Visitors by month
      3.3k
    • Avg Time on site
      41 min
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    1801 Hempstead Rd
    Lancaster, PA 17601-5671
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    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
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