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Property profile & analytics
FOR SALE
Manufacturing properties
301 Richardson Dr, Lancaster, PA 17603
Entity Owned
Free & Clear
Property ID
US73-5817514
For Sale
1 / 24
$13,835,000
301 Richardson Dr, Lancaster, PA 17603
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Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1970
Construction
STEEL FRAME
Total area
188,350 SF
Lot
9.4 ac (409,464 SF)
Zoning code
I-2
APN
290-12526-0-0000
UPID
US73-5817514
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
$14.00M
CAP Approach
CAP
$16.14M
Comparable Approach
Comparable
$19.17M
Blend (final)
Blend
$13.84M
Owner & transaction history
Fip Master Funding Lx LLC
Fip Master Funding Lx LLC
since 2026
Last sale
$11.0M
7 recorded transactions
Zoning & alternative use
I-2 · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$13,995,000
CAP Approach
CAP Return
Estimation
6%
$17,485,000
6.5%
$16,140,000
7%
$14,985,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$21,555,000
Current use
Blend value · Realmo final
$13.84M
Range $12.45M – $15.22M · ±10% · vs last sale $11.00M (Jul 1 2021)
Last sale anchor
$11.00M
Jul 1 2021
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
$73 / 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
$130,740
Tax year 2024
Assessed value
$6,049,900
Assessed 2024
Previous assessed
$6,049,900
+0.0% YoY
Effective rate
2.16%
On assessed value
Assessed land
$1,011,400
Assessed improvement
$5,038,500
Land market value
$1,011,400
Improvement market value
$5,038,500
Total market value
$6,049,900
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Sale
Year built
1970
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
YES
Buildings
2
Stories
1
Total area
188,350 SF
Lot
9.4 ac (409,464 SF)
Zoning code
I-2
APN
290-12526-0-0000
UPID
US73-5817514
Jurisdiction
LANCASTER
Zoning & alternative use
I-2 · Lancaster, PA
Zoning I-2 · permitted uses
I-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
INDUSTRIAL (GENERAL) Current
Est. value
$21.6M
INDUSTRIAL (GENERAL) Current
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
1970
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
2
Lot
9.4 ac
Current owner
From public records · entity-resolved
Fip Master Funding Lx LLC
Entity
Free & Clear · 0 yrs held
Mailing address
435 MERCHANT WALK SQ STE #300, CHARLOTTESVLE, VA 22902-6515
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2026
$13,750,000
Fip Master Funding Lx LLC
Eastern Richardson Partners LLC
Special Warranty Deed
—
Jul 1, 2021
$11,000,000
Eastern Richardson Partners LLC
501 Richardson Acquistion LLC
Deed
$7,150,000 · Meridian Bank
Nov 30, 2015
—
501 Richardson Acquisition LLC
—
Grant Deed
related
$6,192,000 · Orrstown Bk
Jun 25, 2007
—
501 Richardson Acquisition LLC
501 Richardson Acquisition LLC
Deed
related
$5,567,500 · Bank Of America NA
Mar 16, 2007
$4,825,000
501 Richardson Acquisition
501 Richardson Drive LLC
Grant Deed
$4,850,000 · Sovereign Bank
Mar 13, 2001
$2,607,000
501 Richardson Drive LLC
Penn-chem Corp
Grant Deed
$3,100,000 · Prudential Mortgage Capital Co
—
—
501 Richardson Dr LLC
—
Deed Of Trust
related
$200,000 · Community Bank 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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