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Property profile & analytics
OFF-MARKET
Estimated value
$1,040,000
Retail space
2389 Market St Elizabethtown, PA 17022-9793
Trust Owned
Free & Clear
Property ID
US73-1369452
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1979
Construction
WOOD FRAME
Total area
4,200 SF
Lot
0.9 ac (39,204 SF)
Zoning code
C-2
APN
460-17927-0-0000
UPID
US73-1369452
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.22M
CAP Approach
CAP
$760k
Comparable Approach
Comparable
$964k
Blend (final)
Blend
$1.04M
Owner & transaction history
2018 Louie Family Trust
2018 Louie Family Trust
since 2025
Last sale
$1.0M
4 recorded transactions
Zoning & alternative use
C-2 · Elizabethtown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$845,000
+26.6%
Auto repair, garage
$700,000
+4.6%
Commercial (general)
$670,000
+0.4%
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 Elizabethtown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elizabethtown 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
$1,300,000
ML approach
$1,215,000
CAP Approach
CAP Return
Estimation
6%
$825,000
6.5%
$760,000
7%
$705,000
Alternative Use
Use
Estimation
RETAIL STORES
$670,000
Current use
MEDICAL BUILDING
$845,000
Change: +27% · Conversion: Difficult
AUTO REPAIR, GARAGE
$700,000
Change: +5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$670,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$1.04M
Range $936k – $1.14M · ±10% · vs last sale $1.00M (Aug 4 2022)
Last sale anchor
$1.00M
Aug 4 2022
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
$248 / 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
$10,689
Tax year 2024
Assessed value
$422,200
Assessed 2024
Previous assessed
$422,200
+0.0% YoY
Effective rate
2.53%
On assessed value
Assessed land
$180,000
Assessed improvement
$242,200
Land market value
$180,000
Improvement market value
$242,200
Total market value
$422,200
Applied tax rate
460.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1979
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
YES
Stories
1
Total area
4,200 SF
Lot
0.9 ac (39,204 SF)
Zoning code
C-2
APN
460-17927-0-0000
UPID
US73-1369452
Jurisdiction
LANCASTER
Zoning & alternative use
C-2 · Elizabethtown, PA
Zoning C-2 · permitted uses
C-2 · Elizabethtown, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elizabethtown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$670,000
MEDICAL BUILDING
Est. value
$845,000
AUTO REPAIR, GARAGE
Est. value
$700,000
COMMERCIAL (GENERAL)
Est. value
$670,000
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1979
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
0.9 ac
Current owner
From public records · entity-resolved
2018 Louie Family Trust
Trust
Free & Clear · 0 yrs held
Mailing address
165 FLANDERS RD, WESTBOROUGH, MA 01581-1032
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 26, 2025
—
2018 Louie Family Trust
Dorene E Louie
Deed
related
—
Aug 4, 2022
—
Garwin B Soe
Garwin B Soe
Intrafamily Transfer
related
—
Sep 14, 2020
$1,000,000
Garson C Soe
Barbara A Reich
Grant Deed
—
Feb 11, 2020
—
Barbara A Reich
Jay R Reich SR.
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.
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