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

    2 Market St York, PA 17401

    • Office buildings
    • 9,792 SF
    • 0.17 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Last Sale
    Jun 10, 2021
    $440,000
    Value Estimations
    $405,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0656558
    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

    • Prince Street Cafe / Cafe
    • Diemo Productions / Video Production Service
    • Chelsea Foster / Graphic Designer
    • KCSC / Yoga Studio
    • Dale E. Anstine / Personal Injury Attorney / Attorney

    Property Details for 2 Market St

    Year built
    1810
    Lot size
    0.17 lot acres
    Property size
    9,792 SF
    Zone code
    CM
    Property type
    Office buildings
    APN
    01-001-01-0021.00-00000
    APU
    10010100210000000

    Description

    This stunning 18,913 square foot, five-story Class B office building, located at 2 W Market St in York, PA's Central Business District, offers unique lease opportunities. Built in 1900 and extensively renovated in 2020, the property boasts a 0.13-acre lot and features elevator access. Currently, the fifth floor is available for lease, offering fully restored, move-in ready individual office spaces with the option to combine for larger suites. Each office is generously sized to accommodate workstations and group meeting areas. Enjoy high ceilings, large windows providing abundant natural light, and breathtaking penthouse views of downtown York and Continental Square. All utilities, including WiFi, are included in the lease, along with access to shared kitchen/breakroom and restrooms. The building is situated in a vibrant area, sharing space with established businesses such as Prince Street Café (offering rentable meeting space), The Grotto (a community co-working and artist studios space), and the Dale E. Anstine Law Firm. This is a rare opportunity to establish your business in a prestigious, historically significant building in the heart of York, PA. The building is zoned for Central Business District use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $420,000
      ML approach
      $415,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $361,000
      Market price range: $361k - $1.01M
      AI Estimate
      $311,000
      Market price range: $306k - $1.33M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $670,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    York
    County
    York
    State
    Pennsylvania
    Longitude
    -76.7271
    Latitude
    39.9622
    CBSA code
    49620
    CBSA name
    YORK-HANOVER, 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
    $13,576
    $77,810
    $140,860
    $218,670
    -
    $77,810
    $140,860
    $218,670

    Comparable in this City

    • Value Estimation
      $400,000
      10,780 SF

      60 En St

      OFFICE BUILDING • 10,780 SF
      60 En St, York, PA 17401-2421
      View Details
    • Value Estimation
      $760,000
      28,536 SF

      212 George St

      OFFICE BUILDING • 28,536 SF
      212 George St, York, PA 17401
      View Details
    • Value Estimation
      $350,000
      8,961 SF

      128 George St

      OFFICE BUILDING • 8,961 SF
      128 George St, York, PA 17401-1117
      View Details
    • Value Estimation
      $200,000
      2,690 SF

      41 Market St

      OFFICE BUILDING • 2,690 SF
      41 Market St, York, PA 17401-1205
      View Details
    • Value Estimation
      $285,000
      8,400 SF

      228 Market St

      OFFICE BUILDING • 8,400 SF
      228 Market St, York, PA 17401-1008
      View Details
    • Value Estimation
      $790,000
      49,826 SF

      14 Market St

      OFFICE BUILDING • 49,826 SF
      14 Market St, York, PA 17401-1617
      View Details

    Similar Nearby for Sale

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    • $1,500,000
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      Adaptable Buildings in Market District

      Four well-maintained buildings suitable for retail, office, or residential use.
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    • $85,000

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      First-floor office condo in York City with included amenities.
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      Executive Office Suite, York PA

      Prime Downtown York Office, $339,000
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      York, PA Creative Office Condo

      Class A Office, 9,577 SF, $949K
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    Similar Nearby for Lease

    • $7,467 /Mo
      8,961 SF

      York City Office Building

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      Prime Office Space, On-Site Parking, Downtown Access
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      View Details
    • $17 SF/Yr
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      York Office Space For Rent

      Affordable office spaces with variable sizes and configurations available.
      18 S George St, York, PA 17401
      View Details
    • $5 SF/Yr
      160 SF

      Historic Downtown Office Space Available

      Downtown office building with shared conference room and prime location.
      35 S Duke St, York, PA 17401
      View Details
    • $20 SF/Yr
      18,913 SF

      Downtown York Office Suites

      Historic building, modern amenities, penthouse views
      2 Market St, York, PA 17401
      View Details
    • Contact for pricing
      11,905 SF

      Downtown York Retail & Office Space

      Prime location, flexible space, build-to-suit option.
      217 George St, York, PA 17401
      View Details
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    York, PA 17401
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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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