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

    38 Memory Ln York, PA 17402-2361

    • Retail space
    • 4,000 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Dec 17, 2024
    $650,000
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    7.3%
    Retail space
    Location Intelligence
    Property ID
    US73-1875822
    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

    • Sherwin-Williams Paint Store / (Bike/Boat/Book/etc) Store / Hardware & Home Improvement

    Property Details for 38 Memory Ln

    Year built
    1962
    Lot size
    0.31 lot acres
    Property size
    4,000 SF
    Zone code
    N-C/H
    Property type
    Retail space
    APN
    46-000-02-0006.00-00000
    APU
    460000200060000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $650,000
      ML approach
      $650,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $795,000
      6.5%
      $735,000
      7%
      $680,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $560,000
      Market price range: $342k - $949k

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

    Location Insight

    • Map
    • Local Demand
    City
    York
    County
    York
    State
    Pennsylvania
    Longitude
    -76.6806
    Latitude
    39.9748
    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
    $7,268
    $82,470
    $164,840
    $247,310
    -
    $82,470
    $164,840
    $247,310

    Comparable in this City

    • Value Estimation
      $9,370,000
      117,875 SF

      2905 Market St

      RETAIL STORES (PERSONAL SERVICES) • 117,875 SF
      2905 Market St, York, PA 17402-2408
      View Details
    • Value Estimation
      $1,705,000
      15,562 SF

      3410 Market St

      RETAIL STORES (PERSONAL SERVICES) • 15,562 SF
      3410 Market St, York, PA 17402-2629
      View Details
    • Value Estimation
      $1,285,000
      9,702 SF

      2915 Whiteford Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,702 SF
      2915 Whiteford Rd, York, PA 17402-8976
      View Details
    • Value Estimation
      $1,790,000
      18,300 SF

      2811 Prospect Rd

      RETAIL STORES (PERSONAL SERVICES) • 18,300 SF
      2811 Prospect Rd, York, PA 17402-9215
      View Details
    • Value Estimation
      $625,000
      7,280 SF

      700 Hls Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,280 SF
      700 Hls Rd, York, PA 17402-2213
      View Details
    • Value Estimation
      $1,840,000
      4,628 SF

      3741 Market St

      RETAIL STORES (PERSONAL SERVICES) • 4,628 SF
      3741 Market St, York, PA 17402-2766
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,800 SF

      Freestanding Retail Building in York

      2,800 SF retail building in East York retail market.
      2914 E Market St, York, PA 17402
      View Details
    • $100,000
      2.05 Acres

      Established Nail Salon Business Opportunity

      Profitable nail salon and spa business for sale in York.
      3013 E Market St, York, PA 17402
      View Details
    • New
      $1,400,700
      1.26 Acres

      Freestanding Retail Property on Whiteford

      Freestanding retail property with NNN lease in York, PA.
      2920 Whiteford Rd, York, PA 17402
      View Details
    • New
      $2,448,817
      9,535 SF

      Retail Building in York, PA

      Retail building with national brand tenants in a thriving location.
      2915 Whiteford Rd, York, PA 17402
      View Details
    • Contact for pricing
      4,133 SF

      York, PA Retail Portfolio

      Three remodeled retail buildings, ideal for various uses.
      100 Memory Ln, York, PA 17402
      View Details
    • $1,595,000
      5,994 SF

      Established Restaurant and Bar Opportunity

      Fully-equipped restaurant and bar with liquor license for sale.
      2509-2575 S Queen St, York, PA 17402
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      Retail Space in York Plaza

      Neighborhood retail shopping center with national and local tenants.
      180 Leaders Heights Rd, York, PA 17402
      View Details
    • Contact for pricing
      84,905 SF

      Former Kmart Space in York

      82,033 SF retail space with high traffic volume.
      1090-1094 Haines Rd, York, PA 17402
      View Details
    • $1,400,700
      8,004 SF

      Retail Building Near Route 30

      8,004 SF retail building with high visibility and traffic.
      2920 Whiteford Rd, York, PA 17402
      View Details
    • $24 SF/Yr
      1,500 SF

      New Class A Office Space

      Prime location near I-83, ideal for professional offices.
      2601 Course Rd, York, PA 17402
      View Details
    • $18 SF/Yr
      1,125 SF

      Retail Space Near Heritage Hills

      Retail space available in high-visibility York strip center.
      2811 E Prospect Rd, York, PA 17402
      View Details
    • $8 SF/Yr
      700,445 SF

      Retail Space in East York

      11,000 SF retail space for lease in York, PA.
      4075 E Market St, York, PA 17402
      View Details
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    38 Memory Ln
    York, PA 17402-2361
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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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