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1935 Columbia Ave, Lancaster, PA 17603
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Property summary
AI-generated overview
1935 Columbia Ave is a two-story, 4,454-square-foot commercial building on approximately 0.42 acres along Columbia Avenue in East Hempfield Township. The ground floor is configured for quick-service restaurant use, and the upper level contains two residential apartments, creating a mixed commercial-and-residential layout. The building was originally constructed in 1973 and underwent renovations in 1984. It is located within CBC zoning, which allows a broad range of retail, restaurant, and commercial uses, supporting flexibility for an owner-occupant to occupy and potentially reconfigure the space over time.
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
Current use
Occupant on record · Public records
-
Grocery & Convenience Store Specialty Food Shop
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$804k
Blend (final)
Blend
$460k
Owner & transaction history
since 2015
2 recorded transactions
Zoning & alternative use
HC · Lancaster, PA
Zoning description
Parking garages. Parking garages shall be permitted as uses by right as accessory uses in the HC District and may be located on a separate lot from HC District uses. Parking facilities shall comply with the requirement o…
General category
CIVIC_INSTITUTIONAL
Top alternative use upside
Commercial (general)
$1.2M
+26.9%
Medical building
$1.0M
+11.5%
Retail stores
$970,000
+6.6%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 8 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$460k
Value range
$414k – $506k
±10% around blend
Estimated value / SF
$103 / SF
Confidence
High
8 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
80
$414k
blend $460k
$506k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,454 SF
Lot area
0.42 ac
Year built
1973
Stories
2
APN
290-42810-0-0000
Zoning
HC
Assessed value
$615,400
Annual tax
$13,299
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$457k
Weighted, 8 comps · high confidence
Evidence
8 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.8 mi away · 3,552 SF
10.3 mi away · 4,464 SF
19.0 mi away · 4,392 SF
20.7 mi away · 5,701 SF
21.0 mi away · 3,576 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$460k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 19 sales
$204
-49%
Submarket 39 sales
$233
-56%
County 86 sales
$203
-49%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $103/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+27%
vs current-use indication
Medical Building
Retail Stores
Restaurant · current use
Warehouse, Storage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 8 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$615k
Move the market yield to see immediate price impact.
Value / SF
$138
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$39k
$775k
$554k
$431k
$43k
$862k
$615k
$479k
$47k
$948k
$677k
$527k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
8 found
High confidence · county-verified
Closest comparable
$375k
2.7 mi · Sep 2025 · $85/SF
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
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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, PAZoning HC · permitted uses
HC · Lancaster, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
Parking garages. Parking garages shall be permitted as uses by right as accessory uses in the HC District and may be located on a separate lot from HC District uses. Parking facilities shall comply with the requirement o…
General category
CIVIC_INSTITUTIONAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · 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
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
HC
CIVIC_INSTITUTIONAL
Jurisdiction
Lancaster, PA
Recorded code
HC
Official district
HC
Official district profile
What the municipal code says about HC
Zoning description
Parking garages. Parking garages shall be permitted as uses by right as accessory uses in the HC District and may be located on a separate lot from HC District uses. Parking facilities shall comply with the requirement o…
General category
CIVIC_INSTITUTIONAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for HC in Lancaster, PA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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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