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Property profile & analytics
OFF-MARKET
Estimated value
$16,790,000
Office Spaces
1853 William Penn Way Lancaster, PA 17601-6713
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US73-2369988
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1989
Construction
BRICK
Total area
83,728 SF
Lot
2.7 ac (117,612 SF)
Zoning code
C-2
APN
310-76921-0-0000
UPID
US73-2369988
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
-
The High Companies Construction Company
-
Evergreen Landscaping Services, Inc. Landscaping General Contractor
-
Michael J O'Connor & Associates Law Firm
-
Apogee Marketing, LLC Advertising Agency Marketing & Advertising
-
CCI Consulting Employment Agency Business Service Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.00M
Comparable Approach
Comparable
$17.24M
Blend (final)
Blend
$16.79M
Owner & transaction history
High Properties · 7 yrs held
High Properties
since 2018
5 recorded transactions
Zoning & alternative use
C-2 · 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%
$17,330,000
6.5%
$16,000,000
7%
$14,855,000
Blend value · Realmo final
$16.79M
Range $15.11M – $18.47M · ±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
$201 / 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
$171,632
Tax year 2024
Assessed value
$8,477,500
Assessed 2024
Previous assessed
$8,477,500
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$331,500
Assessed improvement
$8,146,000
Land market value
$331,500
Improvement market value
$8,146,000
Total market value
$8,477,500
Applied tax rate
310.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1989
Construction
BRICK
Heating
YES
Cooling
YES
Stories
4
Total area
83,728 SF
Lot
2.7 ac (117,612 SF)
Zoning code
C-2
APN
310-76921-0-0000
UPID
US73-2369988
Jurisdiction
LANCASTER
Zoning & alternative use
C-2 · Lancaster, PAZoning C-2 · permitted uses
C-2 · Lancaster, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1989
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
4
Lot
2.7 ac
Current owner
From public records · entity-resolved
High Properties
Entity
Mailing address
LANCASTER, PA 17605
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Dec 13, 2018
—
High Properties
—
Loan Modification
related
$55,854,000 · Miscellaneous Ins Co
Sep 23, 2010
—
High Properties
—
Deed Of Trust
related
$8,000,000 · Pnc Bank
Jan 3, 2006
—
High Properties
—
Deed Of Trust
related
$2,488,000 · Fulton Bank
—
—
High Properties
—
Loan Modification
related
—
—
—
High Properties
—
Loan Modification
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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