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Property profile & analytics
OFF-MARKET
Estimated value
$1,865,000
Manufacturing properties
223 Wohlsen Way, Lancaster, PA 17603-4043
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US73-2004290
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1987
Construction
STEEL FRAME
Total area
20,530 SF
Lot
2.3 ac (100,188 SF)
Zoning code
I-2
APN
290-50896-0-0000
UPID
US73-2004290
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
-
Scraper Systems, Inc Landscaping General Contractor
-
Arbon Equipment Corporation Material Handling Equipment Supplier Industrial Door Supplier
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.76M
Comparable Approach
Comparable
$1.70M
Blend (final)
Blend
$1.87M
Owner & transaction history
Lancaster Industrial LLC · 1 yrs held
Lancaster Industrial LLC
since 2025
Last sale
$2.0M
7 recorded transactions
Zoning & alternative use
I-2 · 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%
$1,905,000
6.5%
$1,760,000
7%
$1,635,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,350,000
Current use
Blend value · Realmo final
$1.87M
Range $1.68M – $2.05M · ±10% · vs last sale $2.00M (Dec 14 2024)
Last sale anchor
$2.00M
Dec 14 2024
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
$91 / 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
$18,957
Tax year 2024
Assessed value
$877,200
Assessed 2024
Previous assessed
$877,200
+0.0% YoY
Effective rate
2.16%
On assessed value
Assessed land
$222,500
Assessed improvement
$654,700
Land market value
$222,500
Improvement market value
$654,700
Total market value
$877,200
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
YES
Stories
1
Total area
20,530 SF
Lot
2.3 ac (100,188 SF)
Zoning code
I-2
APN
290-50896-0-0000
UPID
US73-2004290
Jurisdiction
LANCASTER
Zoning & alternative use
I-2 · Lancaster, PA
Zoning I-2 · permitted uses
I-2 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$2.4M
INDUSTRIAL (GENERAL) Current
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
1987
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
2.3 ac
Current owner
From public records · entity-resolved
Lancaster Industrial LLC
Entity
Mailing address
265 PLANE TREE DR, LANCASTER, PA 17603-4029
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2025
$2,000,000
Lancaster Industrial LLC
Donald H Anderson
Deed
—
Dec 2, 2020
—
Donald H Anderson II
—
Deed
related
$975,000 · Jonestown Bank & Trust Co
Oct 5, 2018
—
Donald H Anderson II
—
Deed
related
$1,000,000 · Fulton Bank NA
Jun 20, 2016
—
Donald H Anderson II
—
Deed
related
$300,000 · Fulton Bank NA
—
—
Donald H Anderson II
—
Deed Of Trust
related
$750,000 · Fulton Bank
—
—
Donald H Anderson II
—
Deed Of Trust
related
$245,000 · Fulton Bank
—
—
Donald H Anderson II
—
Deed Of Trust
related
$35,000 · Fulton Bank
—
—
Donald H Anderson II
—
Deed Of Trust
related
$145,000 · Fulton Bank
—
—
Donald H Anderson II
—
Deed Of Trust
related
$410,000 · Fulton Bk
—
—
Donald H Anderson II
—
Deed Of Trust
related
$825,285 · Fulton Bank
—
—
Donald H Anderson
—
Deed Of Trust
related
$300,000 · Bank Of Lancaster County NA
—
—
Donald H Anderson II
—
Deed Of Trust
related
$860,000 · Bank Of Lancaster County NA
—
—
Donald H Anderson II
—
Deed Of Trust
related
$100,000 · Fulton Bank
—
—
Donald H Anderson II
—
Deed Of Trust
related
$195,000 · Fulton Bank
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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