Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    351 James St Lancaster, PA 17603-2914

    • Commercial real estate
    • 3,404 SF
    OFF-MARKET
    Last Sale
    Dec 01, 2021
    Value Estimations
    $695,000
    Show details
    Cap Rate Potential
    5.7%
    Commercial real estate
    Location Intelligence
    Property ID
    US73-1765365
    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

    • Lancaster, PA 17603 / Counselor
    • David P. Levin, LPC / Counselor / Doctor
    • Latinia M. Shell, MED / Counselor
    • Keiper Building / Apartment Building
    • Abacus Development Inc / General Contractor

    Property Details for 351 James St

    Year built
    1926
    Property size
    3,404 SF
    Property type
    Commercial real estate
    APN
    339-64076-1-0351
    APU
    3396407610351

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $740,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $705,000
      6.5%
      $650,000
      7%
      $605,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $880,000
      Current use
      MEDICAL BUILDING
      $775,000
      Change: -12% Conversion: Easy
      RETAIL STORES
      $740,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.3138
    Latitude
    40.0454
    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
    $24,921
    $0.00
    $629,800
    $629,800
    -
    $0.00
    $629,800
    $629,800

    Comparable in this City

    • Value Estimation by Request
      6.56 Acres

      Centerville Rd

      Land • 6.56 Acres
      0 Centerville Rd, Lancaster, PA 17603
      View Details
    • Value Estimation
      $395,000
      1.49 Acres

      Elm Ave

      COMMERCIAL CONDOMINUIM • 1.49 Acres
      Elm Ave, Lancaster, PA 17603
      View Details
    • Value Estimation
      $945,000
      28,152 SF

      301 James St

      COMMERCIAL CONDOMINUIM • 28,152 SF
      301 James St, Lancaster, PA 17603-2960
      View Details
    • Value Estimation
      $375,000
      1.01 Acres

      322 Arch St

      COMMERCIAL CONDOMINUIM • 1.01 Acres
      322 Arch St, Lancaster, PA 17603-2991
      View Details
    • Value Estimation
      $300,000
      5.83 Acres

      Wabank Rd

      COMMERCIAL CONDOMINUIM • 5.83 Acres
      Wabank Rd, Lancaster, PA 17603
      View Details
    • Value Estimation
      $595,000
      3,404 SF

      351 James St

      COMMERCIAL CONDOMINUIM • 3,404 SF
      351 James St, Lancaster, PA 17603-2914
      View Details

    Similar Nearby for Sale

    • $500,000
      0.33 Acres

      Lancaster Commercial Land - $500K

      High-traffic pad site, 0.33 acres.
      2001 Columbia Ave, Lancaster, PA 17603
      View Details
    • $1,625,000
      4.03 Acres

      Lancaster Commercial Land - 4 Acres

      Prime Lancaster County commercial land, ideal for diverse uses.
      2816 Columbia Ave, Lancaster, PA 17603
      View Details
    • $1,966,800
      6.56 Acres

      Lancaster Commercial Land - 6.56 Acres

      Prime Commercial Lot, Lancaster, PA
      0 Centerville Rd, Lancaster, PA 17603
      View Details
    • $420,000
      3,400 SF

      Lancaster City Commercial Gem

      Spacious corner lot, high visibility, great location.
      108 Crystal St, Lancaster, PA 17603
      View Details
    • $239,900
      0.36 Acres

      Prime Building Lot in Lancaster

      0.36 acre lot in desirable East Hempfield, Lancaster County.
      Barrholly Dr, Lancaster, PA 17603
      View Details
    • $320,000

      Lancaster Farmers Market Business Opportunity

      Farmers market business for sale in historic Lancaster building.
      23 Market St, Lancaster, PA 17603
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      14,015 SF

      King Street Creative Office Space

      Lancaster CBD: 14,015 SF Available
      8 King St, Lancaster, PA 17603
      View Details
    • $11 SF/Yr
      1,264 SF

      Downtown Lancaster Office Suite

      1,264 SF Creative Office Space
      315 James St, Lancaster, PA 17603
      View Details
    • $48,504

      Freestanding Retail Building on Columbia

      1,800 SF retail building with frontage on Columbia Avenue.
      1820 Columbia Ave, Lancaster, PA 17603
      View Details
    • $30 SF/Yr
      2,562 SF

      Turn-Key Restaurant at College Row

      Fully-equipped restaurant in upscale mixed-use development near Franklin & Marshall.
      645 Harrisburg Ave, Lancaster, PA 17603
      View Details
    • $117,131

      Industrial Property for Rent

      Industrial property available for lease in Lancaster, Pennsylvania.
      652 Manor 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
    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.
    351 James St
    Lancaster, PA 17603-2914
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.