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    Property profile & analytics

    45 W Lancaster Ave Downingtown, PA 19335

    • Office buildings
    • 5,015 SF
    • 0.48 lot acres
    For Lease
    View listing
    $6,000 /Mo
    Last Sale
    Feb 18, 2025
    $753,665
    Value Estimations
    $820,000
    Cap Rate Potential
    8.4%
    Office buildings
    Location Intelligence
    Property ID
    US73-0024017
    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

    • Priori Mattress / Mattress Store

    Property Details for 45 W Lancaster Ave

    Year built
    1962
    Lot size
    0.48 lot acres
    Property size
    5,015 SF
    Zone code
    C1
    Property type
    Office buildings
    APN
    1107 03370000
    APU
    110703370000

    Description

    This exceptional commercial property, located at 45 W Lancaster Ave in Downingtown, Pennsylvania (zip code 19335), presents a unique investment opportunity. The 4,950 square foot building sits on a 0.48-acre lot and is zoned C-1, offering versatile usage potential. Currently configured as a retail space and warehouse, it features a clear floor plan ideal for various businesses. The property boasts 29 parking spaces, ensuring ample convenience for customers and employees. Inside, you'll find 14-foot ceilings, providing generous vertical space, along with two loading docks for efficient freight handling. Three bathrooms are conveniently located throughout the building. The property includes a functional HVAC system and three-phase electric service, catering to diverse operational needs. The occupancy date is October 30, 2024. This property is classified as Class B and is situated in Chester County. Its prime location and versatile design make it an attractive option for a wide range of commercial enterprises. The combination of retail and warehouse space, coupled with ample parking and convenient access, makes this a truly compelling investment prospect. Don't miss this chance to acquire a well-maintained and strategically located commercial property in a thriving Pennsylvania market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,000,000
      ML approach
      $960,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $634,000
      Market price range: $635k - $1.36M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $930,000
      Current use
      AUTO REPAIR, GARAGE
      $1,070,000
      Change: +15% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $950,000
      Change: +2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Downingtown
    County
    Chester
    State
    Pennsylvania
    Longitude
    -75.7073
    Latitude
    40.0048
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD 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
    $2,546
    $19,190
    $41,780
    $60,970
    -
    $19,190
    $41,780
    $60,970

    Comparable in this City

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      $4,195,000
      25,264 SF

      348 Marshallton Rd

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    • Value Estimation
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      3903 Lincoln Hwy

      OFFICE BUILDING • 4,176 SF
      3903 Lincoln Hwy, Downingtown, PA 19335-2218
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    • Value Estimation
      $1,145,000
      8,670 SF

      35 Pennsylvania Ave

      OFFICE BUILDING • 8,670 SF
      35 Pennsylvania Ave, Downingtown, PA 19335-2611
      View Details
    • Value Estimation
      $800,000
      4,528 SF

      389 Uwchlan Ave

      OFFICE BUILDING • 4,528 SF
      389 Uwchlan Ave, Downingtown, PA 19335-3121
      View Details
    • Value Estimation
      $730,000
      4,820 SF

      156 Wallace Ave

      OFFICE BUILDING • 4,820 SF
      156 Wallace Ave, Downingtown, PA 19335-2643
      View Details
    • Value Estimation
      $910,000
      4,080 SF

      431 Bondsville Rd

      OFFICE BUILDING • 4,080 SF
      431 Bondsville Rd, Downingtown, PA 19335-2108
      View Details

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      Downingtown Office Building with Drive-Thru

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      Downingtown Office Space Available

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      Downingtown Commercial Property For Rent

      Versatile commercial property suitable for retail, medical, daycare, or warehouse.
      45 W Lancaster Ave, Downingtown, PA 19335
      View Details
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      Downingtown Commercial Space For Lease

      Versatile commercial property in Downingtown, suitable for various businesses.
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    Downingtown, PA 19335
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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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