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    Property profile & analytics

    41 Market St York, PA 17401

    • Office buildings
    • 878 SF
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Dec 02, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-4273903
    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

    • Market Street Parking Garage / Parking Garage
    • York City Parking Bureau / City Government Office
    • FedEx Drop Box / Mailing Service
    • York County Courthouse / Government Office
    • L & E Playhouse / Children'S Amusement Center

    Property Details for 41 Market St

    Year built
    1969
    Property size
    878 SF
    Property type
    Office buildings
    APN
    02-021-01-0011.00-L0003
    APU
    0202101001100L0003

    Description

    This exceptional 3,568 square foot office space is ideally situated on the first floor of a five-story building at 41 E Market St, York, PA 17401. Located in the Central Business District, just a block from Continental Square, this property offers unparalleled convenience and accessibility. The space boasts abundant natural light and features a large open-plan area, perfect for collaborative work environments, complemented by multiple bathrooms. The building's zoning is Central Business District. Included with the lease are fourteen parking passes for the on-site public garage, ensuring convenient parking for staff and clients. This traditional/creative office space is part of a larger 311,938 square foot building situated on a 0.69-acre lot, constructed in 1969. The property's address is 41 E Market St, with E. Clarke Ave as a cross street. The York County property features a single tenancy and is identified by APN 02-021-01-0011-00-00000. Its prime location offers easy access to a wealth of amenities, including the Yorktowne Hotel, Royal Square, York County Judicial Center, diverse shopping and dining options, and The Appell Center for the Performing Arts. This is a rare opportunity to secure a highly desirable office space in the heart of York's vibrant downtown.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    York
    County
    York
    State
    Pennsylvania
    Longitude
    -76.7265
    Latitude
    39.9633
    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
    $2,287
    $0.00
    $36,840
    $36,840
    -
    $0.00
    $36,840
    $36,840

    Comparable in this City

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      14 Market St

      OFFICE BUILDING • 49,826 SF
      14 Market St, York, PA 17401-1617
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    • Value Estimation by Request
      11,402 SF

      124 Market St

      OFFICE BUILDING • 11,402 SF
      124 Market St, York, PA 17401-1219
      View Details
    • Value Estimation
      $830,000
      12,700 SF

      200 Market St

      OFFICE BUILDING • 12,700 SF
      200 Market St, York, PA 17401-1008
      View Details
    • Value Estimation by Request
      23,530 SF

      120 Market St

      OFFICE BUILDING • 23,530 SF
      120 Market St, York, PA 17401-1219
      View Details
    • Value Estimation
      $525,000
      17,856 SF

      116 Market St

      OFFICE BUILDING • 17,856 SF
      116 Market St, York, PA 17401-1219
      View Details

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    • Contact for pricing
      22,500 SF

      Prime York, PA Commercial Site

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      View Details
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    41 Market St
    York, PA 17401
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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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