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    Property profile & analytics

    2075 Water St Lebanon, PA 17046-1881

    • Garden apartment buildings
    • 15,815 SF
    • 3.70 lot acres
    OFF-MARKET
    Last Sale
    Dec 18, 2020
    $1,613,386
    Value Estimations
    $1,650,000
    Show details
    Cap Rate Potential
    7.6%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US73-3490594
    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

    • Deer Lake Apartments / Apartment Building / Low Income Housing Program

    Property Details for 2075 Water St

    Year built
    2003
    Lot size
    3.70 lot acres
    Property size
    15,815 SF
    Property type
    Garden apartment buildings
    APN
    27-2328919-376649-0000
    APU
    2723289193766490000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,740,000
      ML approach
      $1,580,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,190,000
      6.5%
      $2,020,000
      7%
      $1,875,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,693,000
      Market price range: $476k - $1.69M
      AI Estimate
      $1,448,000
      Market price range: $362k - $1.45M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,190,000
      Current use
      RESTAURANT
      $2,410,000
      Change: +103% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,080,000
      Change: +75% Conversion: Difficult
      MEDICAL BUILDING
      $1,835,000
      Change: +54% Conversion: Moderate
      RETAIL STORES
      $1,465,000
      Change: +23% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,145,000
      Change: -4% Conversion: Difficult
      OFFICE BUILDING
      $1,120,000
      Change: -6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lebanon
    County
    Lebanon
    State
    Pennsylvania
    Longitude
    -76.4566
    Latitude
    40.36
    CBSA code
    30140
    CBSA name
    LEBANON, 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
    $36,030
    $430,600
    $1,162,800
    $1,593,400
    -
    $442,094
    $1,193,839
    $1,635,933

    Comparable in this City

    • Value Estimation
      $1,505,000
      14,976 SF

      1141 Jay St

      GARDEN APT, COURT APT (5+ UNITS) • 14,976 SF
      1141 Jay St, Lebanon, PA 17046-1809
      View Details
    • Value Estimation by Request
      5,335 SF

      341 2nd Ave

      GARDEN APT, COURT APT (5+ UNITS) • 5,335 SF
      341 2nd Ave, Lebanon, PA 17046-3909
      View Details
    • Value Estimation by Request
      4,984 SF

      500 9th St

      GARDEN APT, COURT APT (5+ UNITS) • 4,984 SF
      500 9th St, Lebanon, PA 17046-3402
      View Details
    • Value Estimation
      $4,175,000
      38,360 SF

      201 Lebanon Vlg

      GARDEN APT, COURT APT (5+ UNITS) • 38,360 SF
      201 Lebanon Vlg, Lebanon, PA 17046-8417
      View Details
    • Value Estimation by Request
      4,220 SF

      602 Willow St

      GARDEN APT, COURT APT (5+ UNITS) • 4,220 SF
      602 Willow St, Lebanon, PA 17046-5049
      View Details
    • Value Estimation by Request
      4,416 SF

      2198 Lehman St

      GARDEN APT, COURT APT (5+ UNITS) • 4,416 SF
      2198 Lehman St, Lebanon, PA 17046-2707
      View Details

    Similar Nearby for Sale

    • New
      $559,500
      4,380 SF

      Lebanon City 5-Unit Apartment Building

      Well-maintained 5-unit apartment building with storage in Lebanon City.
      426 N 9Th St, Lebanon, PA 17046
      View Details
    • $309,900
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      Remodeled Duplex with Income Potential

      Updated duplex in Lebanon, PA, generating $36,000 annual rental income.
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    • $217,999
      1,742 SF

      Renovated Home with Detached Garage

      Modern, renovated home featuring a detached garage and fenced yard.
      235 Weidman St, Lebanon, PA 17046
      View Details
    • $130,000

      Spacious Lebanon City Home

      Five-bedroom home in Lebanon City with recent updates.
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      View Details
    • $179,900
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      Charming Lebanon Home with Garage

      Spacious 4-bedroom, 2-bath semi-detached home with detached 2-car garage.
      537 E Weidman St, Lebanon, PA 17046
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    • $540,000
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      Lebanon Mixed-Use Commercial Building

      Prime Lebanon location, high potential!
      109 9Th St, Lebanon, PA 17046
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo

      Remodeled Two Bedroom Apartment

      Remodeled second-floor apartment with gas heat and electric water.
      607 Guilford St, Lebanon, PA 17046
      View Details
    • Contact for pricing
      4,300 SF

      Retail Space in Lebanon Center

      Neighborhood retail center anchored by Giant Foods, 4,300 SF available.
      801-835 Bowman St, Lebanon, PA 17046
      View Details
    • Contact for pricing
      23,000 SF

      Old Forge Shopping Center Investment

      Retail Center in Lebanon, PA
      1212 Maple St, Lebanon, PA 17046
      View Details
    • $7 SF/Yr
      15,000 SF

      Lebanon Warehouse/Manufacturing Space Available

      Versatile warehouse/manufacturing space with loading docks and drive-in doors.
      105 N 16Th St, Lebanon, PA 17046
      View Details
    • $3,500 /Mo

      Updated Modern Office in Lebanon

      Modern, updated office space in downtown Lebanon, PA for lease.
      44 N 8Th St, Lebanon, PA 17046
      View Details
    • New
      $1,050 /Mo
      2,614 SF

      Renovated Storefront in Downtown Lebanon

      Move-in-ready storefront with modern amenities and ample storage.
      34 N 7Th St, Lebanon, PA 17046
      View Details
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    2075 Water St
    Lebanon, PA 17046-1881
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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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