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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3108 Market St York, PA 17404-5733

    • Retail space
    • 12,272 SF
    • 1.75 lot acres
    OFF-MARKET
    Last Sale
    Jun 18, 2021
    $540,000
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0892128
    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.

    Current Use by Public Records

    • Nationwide Insurance: The Weekley Agency Inc. / Home Insurance Agency / Life Insurance Agency

    Property Details for 3108 Market St

    Year built
    1960
    Lot size
    1.75 lot acres
    Property size
    12,272 SF
    Zone code
    CM
    Property type
    Retail space
    APN
    51-000-20-0114.00-00000
    APU
    510002001140000000

    Description

    This exceptional 1,346 square foot professional office space is situated on a 1.75-acre lot at 3108 West Market Street in York, Pennsylvania, (APN: 67-51-000-20-0114-00-00000). Built in 1960, this single-story building boasts an 8-foot ceiling height and offers a desirable single-tenancy configuration. The interior features a large open office area, a high-end restroom, a private office, and a kitchen, all in excellent condition with upscale finishes. The property benefits from exceptional visibility on heavily trafficked West Market Street (PA 462), providing excellent exposure for any business. Ample parking is available with 46 shared spaces. Its convenient location is less than one mile from the US 30 interchange, ensuring easy access for clients and employees. The property is zoned Residential Zone (R-3) within York County. This is a rare opportunity to acquire a well-maintained, highly visible office space in a desirable location. The property presents a unique blend of functionality and prime location, making it an ideal investment for a variety of professional businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $515,000
      ML approach
      $500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $534,000
      Market price range: $534k - $1.10M
      AI Estimate
      $545,000
      Market price range: $516k - $1.15M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $770,000
      Current use
      OFFICE BUILDING
      $795,000
      Change: +3% Conversion: Easy
      COMMERCIAL (GENERAL)
      $750,000
      Change: -2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    York
    County
    York
    State
    Pennsylvania
    Longitude
    -76.7852
    Latitude
    39.9444
    CBSA code
    49620
    CBSA name
    YORK-HANOVER, 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
    $14,825
    $331,380
    $119,595
    $450,975
    -
    $331,380
    $119,595
    $450,975

    Comparable in this City

    • Value Estimation by Request
      5,966 SF

      1059 Market St

      RETAIL STORES (PERSONAL SERVICES) • 5,966 SF
      1059 Market St, York, PA 17404-3411
      View Details
    • Value Estimation by Request
      4,960 SF

      130 Clinton St

      RETAIL STORES (PERSONAL SERVICES) • 4,960 SF
      130 Clinton St, York, PA 17404-5409
      View Details
    • Value Estimation
      $1,300,000
      8,328 SF

      1090 Marbrook Ln

      RETAIL STORES (PERSONAL SERVICES) • 8,328 SF
      1090 Marbrook Ln, York, PA 17404-2221
      View Details
    • Value Estimation by Request
      2,876 SF

      1617 Market St

      RETAIL STORES (PERSONAL SERVICES) • 2,876 SF
      1617 Market St, York, PA 17404-5416
      View Details
    • Value Estimation by Request
      3,580 SF

      1431 George St

      RETAIL STORES (PERSONAL SERVICES) • 3,580 SF
      1431 George St, York, PA 17404-2014
      View Details
    • Value Estimation by Request
      6,870 SF

      340 Richland Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,870 SF
      340 Richland Ave, York, PA 17404-3530
      View Details

    Similar Nearby for Sale

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      York Retail Building - $895,000

      High-visibility retail/office space. Excellent location.
      430 Loucks Rd, York, PA 17404
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    • $895,000
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      4,800 SF retail property with high visibility on US-30.
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      York City Redevelopment Opportunity

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    • $779,000
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      York Retail Property: Prime Location

      High-Visibility Retail Space, Excellent Parking
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      Retail Space Available in York

      Approximately 9,677 SF of retail space available for sale.
      470 Loucks Rd, York, PA 17404
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    • $185,000
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      York Retail Space - Prime Location

      High-traffic retail space, ready for new owner.
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    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

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      Prime York, PA retail space available.
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    • $12 SF/Yr
      1,951 SF

      Retail Space with Dedicated Parking

      Retail property with parking, kitchen, and signage available for lease.
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    • Contact for pricing
      1,500 SF

      Retail Space on Main Corridor

      Retail spaces available in high-traffic shopping center.
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    • $12 SF/Yr
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      West York Retail Storefront

      Prime West York location, 1951 SF.
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    • Contact for pricing
      1,500 SF

      Retail Space on Main Corridor

      Retail spaces available in a high-traffic shopping center.
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      View Details
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    3108 Market St
    York, PA 17404-5733
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    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
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