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Property profile & analytics
OFF-MARKET
Estimated value
$12,580,000
Outlet malls
1875 Hempstead Rd Lancaster, PA 17601-5671
Entity Owned
9-yr Hold
Free & Clear
Property ID
US73-1451271
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
142,463 SF
Lot
12.7 ac (553,212 SF)
Zoning code
SM
APN
810-48533-0-0000
UPID
US73-1451271
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
-
Costco Bakery Bakery Specialty Food Shop
-
Costco Pharmacy Pharmacy
-
Thomas J. Sparks, RPH Pharmacy
-
Costco Optical Ophthalmologist (Bike/Boat/Book/etc) Store
-
Costco Food Court Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.46M
Blend (final)
Blend
$12.58M
Owner & transaction history
Leemilts Petroleum INC · 9 yrs held
Leemilts Petroleum INC
since 2017
1 recorded transaction
Zoning & alternative use
SM · 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$12.58M
Range $11.32M – $13.84M · ±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
$88 / 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
$222,615
Tax year 2024
Assessed value
$7,197,700
Assessed 2024
Previous assessed
$7,197,700
+0.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$1,242,000
Assessed improvement
$5,955,700
Land market value
$1,242,000
Improvement market value
$5,955,700
Total market value
$7,197,700
Applied tax rate
810.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
142,463 SF
Lot
12.7 ac (553,212 SF)
Zoning code
SM
APN
810-48533-0-0000
UPID
US73-1451271
Jurisdiction
LANCASTER
Zoning & alternative use
SM · Lancaster, PA
Zoning SM · permitted uses
SM · 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.
Building & site characteristics
From public records
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
12.7 ac
Current owner
From public records · entity-resolved
Leemilts Petroleum INC
Entity
Free & Clear · 9 yrs held
Mailing address
999 LK DR, ISSAQUAH, WA 98027-8990
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 19, 2017
$2,603
Leemilts Petroleum INC
Costco Wholesale Corp
Quit Claim Deed
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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