Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2421 Willow St Pike Lancaster, PA 17602
    Back to Search
    Property profile & analytics

    2421 Willow St Pike, Lancaster, PA 17602

    View on Map
    • Specialty properties
    • 5,708 SF
    • 2.74 lot acres
    Off-Market
    Last Sale Aug 6, 2021
    $825,000
    Property ID
    US73-5976971
    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.
    Value Estimations
    $810,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Stephanie N. Kegel, LSW / Counselor / Social Worker

    Property Details for 2421 Willow St Pike

    Year built
    1961
    Construction
    FRAME
    Lot size
    2.74 lot acres
    Zone code
    CH
    Property type
    Specialty properties
    APN
    320-10226-0-0000
    APU
    3201022600000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 9, 2021 — Franlin Properties Two LLC — Deed · related $1.3M · Fulton Bank NA
    Aug 6, 2021 — Franklin Properties Two LLC Franklin Properties Two LLC Intrafamily Transfer · related —
    Jun 28, 2021 — Franklin Properties Two LLC — Deed · related $1.2M · Fulton Bank NA
    Jun 13, 2019 $825,000 Franklin Properties Two LLC Jiang Properties LLC Deed $632k · S & T Bank
    Jun 2, 2016 $750,000 Jiang Propertie LLC Dwight Wagner Family Limited Partne Special Warranty Deed $600k · Mid Penn Bank
    Nov 2, 2005 $377,200 Dwight Wagner Family Wagner,dwight E Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $975,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $604,000
      Market price range: $300k - $605k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,025,000
      MEDICAL BUILDING
      $920,000
      RESTAURANT
      $865,000
      AUTO REPAIR, GARAGE
      $730,000
      RETAIL STORES
      $670,000
      WAREHOUSE, STORAGE
      $585,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.2841
    Latitude
    39.991
    CBSA code
    29540
    CBSA name
    LANCASTER, 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
    $19,595
    $304,400
    $581,300
    $885,700
    -
    $304,400
    $581,300
    $885,700

    Comparable in this City

    • Value Estimation
      $1,225,000
      6,453 SF

      141 Orange St

      FUNERAL HOME
      141 Orange St, Lancaster, PA 17602-2851
      View Details
    • Value Estimation
      $720,000
      13,558 SF

      323 Duke St

      CHARITABLE ORGANIZATION
      323 Duke St, Lancaster, PA 17602-4915
      View Details
    • Value Estimation by Request
      6,437 SF

      315 Orange St

      FUNERAL HOME
      315 Orange St, Lancaster, PA 17602-2916
      View Details
    • Value Estimation by Request
      2,892 SF

      232 King St

      CHARITABLE ORGANIZATION
      232 King St, Lancaster, PA 17602-2968
      View Details
    • Value Estimation
      $550,000
      9,703 SF

      414 King St

      FUNERAL HOME
      414 King St, Lancaster, PA 17602-3005
      View Details
    • Value Estimation
      $530,000
      10,920 SF

      37 Cherry St

      DAY CARE, PRE-SCHOOL
      37 Cherry St, Lancaster, PA 17602
      View Details

    Similar Nearby for Sale

    • $1,150,000

      Lancaster Bakery and Real Estate

      Thriving bakery business and property for sale in Lancaster.
      9-11 N Duke St, Lancaster, PA 17602
      View Details
    • $1,895,000
      5,500 SF

      Historic Townhouse with Mixed-Use Potential

      Historic Lancaster townhouse with commercial space and residential living.
      121-123 E King St, Lancaster, PA 17602
      View Details
    • $115,000

      Professional Condo in Downtown Lancaster

      Upscale condo with offices and conference room in downtown Lancaster.
      128 East Grant St, Lancaster, PA 17602
      View Details
    • Contact for pricing
      37,026 SF

      Prime Retail Land Opportunity

      Excellent location near outlets, Route 30, and Lancaster City.
      2031 E Lincoln Hwy, Lancaster, PA 17602
      View Details
    • Contact for pricing
      2,935 SF

      Lancaster Retail with Drive-Thru

      Prime retail property with high visibility and drive-through.
      1950 Old Philadelphia Pike, Lancaster, PA 17602
      View Details
    • New
      $374,900
      2,325 SF

      Fully Leased Lancaster Triplex

      Three-unit property with a three-car garage and on-site laundry.
      529 E King St, Lancaster, PA 17602
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      PA, Lancaster - Christian St

      Workspaces, services and support to help you work better in NY, Amherst - 251 John James Audubon
      40 Christian St, Lancaster, PA 17602
      View Details
    • Contact for pricing
      1,483 SF

      Retail Space Near HACC Campus

      Retail space available in mixed-use building near Weis and HACC.
      1635 Old Philadelphia Pike, Lancaster, PA 17602
      View Details
    • Contact for pricing
      121 SF

      High-Visibility Retail and Office Space

      Retail and office spaces with strong traffic, near Lancaster station.
      28-32 E Mcgovern Ave, Lancaster, PA 17602
      View Details
    • Contact for pricing
      2,400 SF

      Retail Pad Site with Drive-Thru

      Prime retail location with drive-thru in East Lancaster.
      2347 Lincoln Hwy E, Lancaster, PA 17602
      View Details
    • $23 SF/Yr

      Office Suite with Elevator Access

      Centrally located office suite with large windows, private offices, and shared work space plus conference room and kitchenette.
      51 South Duke St, Lancaster, PA 17602
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2421 Willow St Pike
    Lancaster, PA 17602
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2421 Willow St Pike, Lancaster, PA, 17602
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!