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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Parking lots & garages
2727 Columbia Ave Lancaster, PA 17603-4594
Entity Owned
4-yr Hold
Free & Clear
Property ID
US73-0065032
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1910
Total area
2,668 SF
Lot
17.2 ac (749,232 SF)
Zoning code
HC
APN
290-76695-0-0000
UPID
US73-0065032
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
-
Belmont Storage Solutions Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$445k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$727k
Blend (final)
Blend
$585k
Owner & transaction history
Belmont Property Management Group L · 4 yrs held
Belmont Property Management Group L
since 2022
3 recorded transactions
Zoning & alternative use
HC · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Parking garages. Parking garages shall be permitted as uses by right as accessory uses in the HC District and may be located on a separate lot from HC District uses. Parking facilities shall comply with the requirement of § 300-44B if the property is located in the Historic Resource Overlay District. Screening or other improvements shall be provided to shiel…
Zone name
Institutional Hospital Complex
General category
CIVIC_INSTITUTIONAL
Zone area
15.32 ac
Top alternative use upside
Commercial (general)
$690,000
+109.3%
Medical building
$605,000
+83.9%
Retail stores
$580,000
+75.9%
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
$445,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$690,000
Change: +109% · Conversion: Difficult
MEDICAL BUILDING
$605,000
Change: +84% · Conversion: Difficult
RETAIL STORES
$580,000
Change: +76% · Conversion: Difficult
WAREHOUSE, STORAGE
$445,000
Change: +35% · Conversion: Difficult
AUTO REPAIR, GARAGE
$410,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$585k
Range $527k – $644k · ±10%
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
$219 / 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
$15,188
Tax year 2024
Assessed value
$702,800
Assessed 2024
Previous assessed
$702,800
+0.0% YoY
Effective rate
2.16%
On assessed value
Assessed land
$702,800
Land market value
$702,800
Total market value
$702,800
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1910
Heating
HOT WATER
Stories
2
Rooms
12
Bathrooms
3
Total area
2,668 SF
Lot
17.2 ac (749,232 SF)
Zoning code
HC
APN
290-76695-0-0000
UPID
US73-0065032
Jurisdiction
LANCASTER
Zoning & alternative use
HC · Lancaster, PAZoning HC · permitted uses
HC · Lancaster, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Parking garages. Parking garages shall be permitted as uses by right as accessory uses in the HC District and may be located on a separate lot from HC District uses. Parking facilities shall comply with the requirement of § 300-44B if the property is located in the Historic Resource Overlay District. Screening or other improvements shall be provided to shield parked cars from view. Driveway openings and access lanes shall be minimized. Safe and convenient pedestrian connections between the parking facilities and the principal use shall be provided. Section 084.6, [1] Discontinuation of required parking facilities, shall not apply to parking garages in the HC District. [1]
Zone name
Institutional Hospital Complex
General category
CIVIC_INSTITUTIONAL
Zone area
15.32 ac
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$690,000
MEDICAL BUILDING
Est. value
$605,000
RETAIL STORES
Est. value
$580,000
WAREHOUSE, STORAGE
Est. value
$445,000
AUTO REPAIR, GARAGE
Est. value
$410,000
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
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
1910
Heating
HOT WATER
Stories
2
Rooms
12
Bathrooms
3
Lot
17.2 ac
Current owner
From public records · entity-resolved
Belmont Property Management Group L
Entity
Free & Clear · 4 yrs held
Mailing address
88 LINDA AVE, LANCASTER, PA 17602-3320
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2022
—
Belmont Property Management Group L
Wilson Hershey J
Deed
—
May 13, 2021
$650,000
Wilson Hershey J
Herley Industries INC
Deed
—
Jan 30, 2004
—
Herley Industries INC
Thompson,w B
Grant 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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