Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    40 King St Lancaster, PA 17602-5313

    • Office Properties & Spaces
    • 32,878 SF
    • 0.26 lot acres
    OFF-MARKET
    Value Estimations
    $6,695,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1093539
    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 County Probation / County Government Office
    • Lancaster County Impaired Drvr / Government Office
    • Intermediate Punishment Program / County Government Office

    Property Details for 40 King St

    Year built
    1890
    Construction
    BRICK
    Lot size
    0.26 lot acres
    Property size
    32,878 SF
    Zone code
    CB1
    Property type
    Office Properties & Spaces
    APN
    333-38009-0-0000
    APU
    3333800900000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,805,000
      6.5%
      $6,280,000
      7%
      $5,835,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,989,000
      Market price range: $3.21M - $9.27M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.304
    Latitude
    40.0377
    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
    $110,201
    $130,000
    $2,655,000
    $2,785,000
    -
    $130,000
    $2,655,000
    $2,785,000

    Comparable in this City

    • Value Estimation by Request
      747 SF

      205 Chestnut St

      OFFICE (GENERAL) • 747 SF
      205 Chestnut St, Lancaster, PA 17602
      View Details
    • Value Estimation
      $1,225,000
      4,168 SF

      202 Marion St

      OFFICE (GENERAL) • 4,168 SF
      202 Marion St, Lancaster, PA 17602-2758
      View Details
    • Value Estimation
      $4,490,000
      19,078 SF

      240 Plum St

      OFFICE (GENERAL) • 19,078 SF
      240 Plum St, Lancaster, PA 17602-2724
      View Details
    • Value Estimation
      $770,000
      4,002 SF

      731 Duke St

      OFFICE (GENERAL) • 4,002 SF
      731 Duke St, Lancaster, PA 17602-2012
      View Details
    • Value Estimation
      $8,265,000
      48,264 SF

      53 Duke St

      OFFICE (GENERAL) • 48,264 SF
      53 Duke St, Lancaster, PA 17602-2839
      View Details
    • Value Estimation
      $965,000
      6,876 SF

      12 Duke St

      OFFICE (GENERAL) • 6,876 SF
      12 Duke St, Lancaster, PA 17602
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.43 Acres

      Lancaster City Office Sublease

      Prime Lancaster Office Space - 6,043 SF Available
      29 King St Unit, Lancaster, PA 17602
      View Details
    • $115,000
      1,242 SF

      Professional Condo in Downtown Lancaster

      Upscale condo with offices and conference room in downtown Lancaster.
      128 East Grant St, Lancaster, PA 17602
      View Details
    • New
      $1,895,000
      5,500 SF

      Historic Townhouse with Commercial Space

      Historic Lancaster townhouse with commercial space and residential living.
      121-123 E King St, Lancaster, PA 17602
      View Details
    • Contact for pricing
      30,008 SF

      Downtown Lancaster Office Building

      30,000 SF office building in downtown Lancaster for sale.
      39 N Duke St, Lancaster, PA 17602
      View Details
    • $485,000
      0.85 Acres

      Lincoln Highway Commercial Land

      High-traffic Lancaster commercial lot.
      2031 Lincoln Hwy, Lancaster, PA 17602
      View Details
    • $2,650,000
      8.96 Acres

      Prime Lancaster Land Opportunity

      Two adjoining parcels totaling 8.96 acres in East Lampeter Township.
      2498 Old Philadelphia Park, Lancaster, PA 17602
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      72,655 SF

      King Street Office Suite 101

      Prime Lancaster Office Space: 6,043 sq ft available
      29 King St, Lancaster, PA 17602
      View Details
    • Contact for pricing
      36,000 SF

      Lancaster Office Building - Prime Location

      Historic Charm, Modern Amenities, Flexible Lease
      53 Duke St, Lancaster, PA 17602
      View Details
    • Contact for pricing
      2,829 SF

      Lancaster Executive Office Space

      Prime Lancaster location, 2,829 sq ft available.
      3 Kennedy St, Lancaster, PA 17602
      View Details
    • $41 SF/Yr
      1,802 SF

      Lancaster Highway Commercial Pad Site

      Prime Lancaster location, 10 acres, 1,802 sqft.
      2090 Lincoln Hwy, Lancaster, PA 17602
      View Details
    • $2,195 /Mo
      3,920 SF

      Victorian Mansion with Reception Room

      Grand Victorian with architectural details, suitable for various commercial uses.
      428 N Duke St, Lancaster, PA 17602
      View Details
    • $12 SF/Yr
      11,200 SF

      Lancaster Office Space For Rent

      Office space available for rent in Lancaster, Pennsylvania.
      794-798 New Holland Ave, Lancaster, PA 17602
      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.
    40 King St
    Lancaster, PA 17602-5313
    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!