Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    301 Richardson Dr Lancaster, PA 17603
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    301 Richardson Dr Lancaster, PA 17603

    View on Map
    • Manufacturing properties
    • 188,350 SF
    • 9.40 lot acres
    For Sale
    $13,835,000
    View Listing →
    Lancaster Industrial Building For Sale For Sale
    $13,835,000

    Lancaster Industrial Building For Sale

    208,993 SF industrial building with long-term tenant.

    301 Richardson Dr, Lancaster, PA 17603
    View Listing
    Property ID
    US73-5817514
    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
    Cap Rate Potential
    4.9%
    Manufacturing properties
    Location Intelligence

    Current Use by Public Records

    • Manufacturing properties

    Property Details for 301 Richardson Dr

    Year built
    1970
    Construction
    STEEL FRAME
    Lot size
    9.40 lot acres
    Property size
    188,350 SF
    Zone code
    I-2
    Property type
    Manufacturing properties
    APN
    290-12526-0-0000
    APU
    2901252600000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $13,995,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $17,485,000
      6.5%
      $16,140,000
      7%
      $14,985,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $19,169,000
      Market price range: $11.1M - $29.3M
      AI Estimate
      $11,711,000
      Market price range: $6.46M - $20.4M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $21,555,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.4013
    Latitude
    40.0414
    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
    $130,740
    $1,011,400
    $5,038,500
    $6,049,900
    -
    $1,011,400
    $5,038,500
    $6,049,900

    Comparable in this City

    • Value Estimation
      $14,730,000
      201,940 SF

      450 Richardson Dr

      MANUFACTURING (LIGHT) • 201,940 SF
      450 Richardson Dr, Lancaster, PA 17603-4036
      View Details
    • Value Estimation
      $4,500,000
      13.10 Acres

      415 Running Pump Rd

      MANUFACTURING (LIGHT) • 13.10 Acres
      415 Running Pump Rd, Lancaster, PA 17603-2226
      View Details
    • Value Estimation by Request
      3,526 SF

      421 Prince St

      MANUFACTURING (LIGHT) • 3,526 SF
      421 Prince St, Lancaster, PA 17603-5601
      View Details
    • Value Estimation
      $5,840,000
      63,706 SF

      236 Queen St

      MANUFACTURING (LIGHT) • 63,706 SF
      236 Queen St, Lancaster, PA 17603
      View Details
    • Value Estimation by Request
      1,396 SF

      12 New St

      MANUFACTURING (LIGHT) • 1,396 SF
      12 New St, Lancaster, PA 17603-2762
      View Details
    • Value Estimation by Request
      2,800 SF

      730 Lk St

      MANUFACTURING (LIGHT) • 2,800 SF
      730 Lk St, Lancaster, PA 17603-3628
      View Details

    Similar Nearby for Sale

    • $3,525,000
      24,000 SF

      Lancaster Warehouse Property for Sale

      24,000 sqft warehouse property available in Lancaster, Pennsylvania.
      209 Hazel St, Lancaster, PA 17603
      View Details
    • $3,000,000
      Pending

      Redevelopment Opportunity Near Stadium

      Auto service, showroom, and warehouse near Clipper Magazine Stadium.
      717-723 N Prince St, Lancaster, PA 17603
      View Details
    • Contact for pricing

      Lancaster Industrial Building For Sale

      208,993 SF industrial building with long-term tenant.
      301 Richardson Dr, Lancaster, PA 17603
      View Details
    • Contact for pricing
      5,420 SF

      Lancaster City Storage Units

      Fully occupied 56-unit storage facility in Lancaster, Pennsylvania.
      33 Old Dorwart St, Lancaster, PA 17603
      View Details
    • Contact for pricing

      Lancaster Industrial Investment Opportunity

      208,993 SF industrial building with long-term tenant.
      301 Richardson Dr, Lancaster, PA 17603
      View Details
    • $900,000

      Lancaster Industrial/Self Storage Investment

      Fully occupied industrial/self-storage property in Lancaster, a cash-flowing investment.
      33 Old Dorwart St, Lancaster, PA 17603
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,132 SF

      Office/Flex/Retail Space Near Stadium

      Office, flex, and retail space available for lease.
      617 N Prince St, Lancaster, PA 17603
      View Details
    • $49,500
      48,787 SF

      Lancaster Commercial Space For Lease

      Prime leasing opportunity in Lancaster's energetic redevelopment corridor.
      717-723 N Prince St, Lancaster, PA 17603
      View Details
    • Sponsored
      New
      Contact for pricing

      PA, Lancaster - North Queen St

      Discover many ways to work your way in MO, Ellisville - Manchester Rd
      50-54 Queen St, Lancaster, PA 17603
      View Details
    • Contact for pricing
      3,500 SF

      Lancaster City Versatile Leasing Opportunity

      Prime property with retail, office, and warehouse spaces for lease.
      220 Hazel St, Lancaster, PA 17603
      View Details
    • $247,500
      48,787 SF

      Prime Lancaster Commercial Leasing Opportunity

      Flexible spaces for office, retail, or warehouse tenants in Lancaster.
      717-723 N Prince St, Lancaster, PA 17603
      View Details
    • $371,250
      48,787 SF

      Lancaster Commercial Space For Lease

      Prime leasing opportunity in Lancaster's energetic redevelopment corridor.
      717-723 N Prince St, Lancaster, PA 17603
      View Details
    View Listing
    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.
    301 Richardson Dr
    Lancaster, PA 17603
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!