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Property profile & analytics
FOR SALE
Drive through restaurants
1935 Columbia Ave Lancaster, PA 17603
Trust Owned
11-yr Hold
Free & Clear
Property ID
US73-2303175
For Sale
1 / 5
$850,000
1935 Columbia Ave, Lancaster, PA 17603
View Listing →
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,454 SF
Lot
0.42 ac (18,295 SF)
Zoning code
HC
APN
290-42810-0-0000
UPID
US73-2303175
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
-
Dairy Queen Grocery & Convenience Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$804k
Blend (final)
Blend
$850k
Owner & transaction history
Ashley,charmayne M Trust · 11 yrs held
Ashley,charmayne M Trust
since 2015
2 recorded transactions
Zoning & alternative use
HC · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+26.9%
Medical building
$1.0M
+11.5%
Retail stores
$970,000
+6.6%
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
Alternative Use
Use
Estimation
RESTAURANT
$910,000
Current use
COMMERCIAL (GENERAL)
$1,155,000
Change: +27% · Conversion: Easy
MEDICAL BUILDING
$1,015,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$970,000
Change: +7% · Conversion: Easy
WAREHOUSE, STORAGE
$745,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$850k
Range $765k – $935k · ±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
$191 / 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
$13,299
Tax year 2024
Assessed value
$615,400
Assessed 2024
Previous assessed
$615,400
+0.0% YoY
Effective rate
2.16%
On assessed value
Assessed land
$190,000
Assessed improvement
$425,400
Land market value
$190,000
Improvement market value
$425,400
Total market value
$615,400
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
For Sale
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Total area
4,454 SF
Lot
0.42 ac (18,295 SF)
Zoning code
HC
APN
290-42810-0-0000
UPID
US73-2303175
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
RESTAURANT Current
Est. value
$910,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$970,000
WAREHOUSE, STORAGE
Est. value
$745,000
RESTAURANT Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Lot
0.42 ac
Current owner
From public records · entity-resolved
Ashley,charmayne M Trust
Trust
Free & Clear · 11 yrs held
Mailing address
2118 NEW DANVILLE PIKE, LANCASTER, PA 17603-9506
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 7, 2015
—
Ashley,charmayne M Trust
Ashley Charmayne M
Quit Claim Deed
related
—
Dec 4, 2007
—
Rosetta K
Herr Albert H Trust
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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