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Property profile & analytics
FOR SALE
Retail space
2405 Covered Bridge Dr Lancaster, PA 17602
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US73-1537302
For Sale
1 / 8
$9,705,000
2405 Covered Bridge Dr, Lancaster, PA 17602
View Listing →
Property summary
AI-generated overview
Covered Bridge Marketplace offers a prime retail investment opportunity in Lancaster County, Pennsylvania. This 38,830 square foot, Target shadow-anchored shopping center is strategically located along Lincoln Highway East (Route 30), Lancaster's main thoroughfare and a key artery for the city's thriving tourism district. The property boasts excellent visibility with signalized access and pylon signage, ensuring high traffic volume. With over 29,000 vehicles passing daily, this location benefits from its proximity to major attractions including Rockvale Outlets, Tanger Outlets, Dutch Wonderland, and the American Music Theatre, collectively drawing over 2,100,000 tourists annually. Currently, there are multiple spaces available, with a minimum divisible space of 2,800 square feet and a maximum contiguous space of 3,999 square feet
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
39,670 SF
Lot
5.23 ac (227,819 SF)
Zoning code
C-2
APN
310-74222-1-0004
UPID
US73-1537302
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
-
GameStop Electronics & Wireless Store
-
Cicis Pizza Restaurant
-
LibertyX Bitcoin ATM Atm
-
TagWorks (Bike/Boat/Book/etc) Store Pet Store & Service
-
Apothecarium (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.91M
CAP Approach
CAP
$7.18M
Comparable Approach
Comparable
$10.83M
Blend (final)
Blend
$9.71M
Owner & transaction history
Rsi Acquisition Equities LLC · 4 yrs held
Rsi Acquisition Equities LLC
since 2022
Last sale
$9.4M
7 recorded transactions
Zoning & alternative use
C-2 · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$11.6M
+58.5%
Restaurant
$9.2M
+26.2%
Medical building
$9.0M
+23.3%
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
$12,265,000
ML approach
$11,910,000
CAP Approach
CAP Return
Estimation
6%
$7,780,000
6.5%
$7,180,000
7%
$6,670,000
Alternative Use
Use
Estimation
RETAIL STORES
$7,325,000
Current use
COMMERCIAL (GENERAL)
$11,605,000
Change: +58% · Conversion: Easy
RESTAURANT
$9,240,000
Change: +26% · Conversion: Easy
MEDICAL BUILDING
$9,030,000
Change: +23% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,955,000
Change: -5% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,085,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$9.71M
Range $8.73M – $10.68M · ±10% · vs last sale $9.44M (Jun 8 2022)
Last sale anchor
$9.44M
Jun 8 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
$245 / 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
$88,710
Tax year 2024
Assessed value
$4,381,700
Assessed 2024
Previous assessed
$4,381,700
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$1,027,300
Assessed improvement
$3,354,400
Land market value
$1,027,300
Improvement market value
$3,354,400
Total market value
$4,381,700
Applied tax rate
310.0000
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
For Sale
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
39,670 SF
Lot
5.23 ac (227,819 SF)
Zoning code
C-2
APN
310-74222-1-0004
UPID
US73-1537302
Jurisdiction
LANCASTER
Zoning & alternative use
C-2 · Lancaster, PA
Zoning C-2 · permitted uses
C-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
RETAIL STORES Current
Est. value
$7.3M
COMMERCIAL (GENERAL)
Est. value
$11.6M
RESTAURANT
Est. value
$9.2M
MEDICAL BUILDING
Est. value
$9.0M
WAREHOUSE, STORAGE
Est. value
$7.0M
AUTO REPAIR, GARAGE
Est. value
$6.1M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
5.23 ac
Current owner
From public records · entity-resolved
Rsi Acquisition Equities LLC
Entity
Mailing address
1000 S LENOLA RD STE #100, MAPLE SHADE, NJ 08052-1630
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 8, 2022
$9,437,000
Rsi Acquisition Equities LLC
Amish Farm Development Co LLC
Deed
$7,600,000 · First Bank
Jun 30, 2021
—
Amish Farm Development Co LLC
—
Deed
related
$6,900,000 · Orrstown Bank
Apr 12, 2017
—
Amish Farm Development Co LLC
—
Deed
related
$425,000 · Fulton Bank NA
Apr 10, 2017
—
Amish Farm Dev Co LLC
—
Grant Deed
related
$7,875,000 · Fulton Bk
Mar 21, 2017
—
Amish Farm Dev Co LLC
—
Grant Deed
related
$7,875,000 · Fulton Bk NA
Jun 14, 2016
—
Amish Farm Dev Co LLC
—
Deed
related
$9,300,000 · Santander Bk NA
Dec 1, 2004
—
Amish Farm Dev Co LLC
Covered Bridge Marketplace LLC
Grant Deed
$5,500,000 · Wilmington Trust Co
—
—
Amish Farm Dev Co LLC
—
Loan Modification
related
$9,300,000 · Santander Bk NA
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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