480 New Holland Ave Lancaster, PA 17602-2291
- Office Properties & Spaces
- 120,547 SF
- 7.50 lot acres
Current Use by Public Records
- Panagopoulos Dana C / Law Firm
- Vanguard Professional Concrete Contractors - Lancaster / Construction Company / General Contractor
- Eliance Health Solutions / Physician
- Master's Wealth Management / Financial Advisor
- Work Wisdom / Education Center / Psychologist
Property Details for 480 New Holland Ave
- Year built
- 1919
- Construction
- STEEL FRAME
- Lot size
- 7.50 lot acres
- Property size
- 120,547 SF
- Zone code
- MU
- Property type
- Office Properties & Spaces
- APN
- 336-76484-0-0000
- APU
- 3367648400000
Description
This exceptional three-story, 105,000 square foot office building, originally constructed in 1865 and extensively renovated in 2005, presents a unique investment opportunity. Located at 480 New Holland Avenue, the property boasts a blend of creative, traditional, and medical office spaces, making it suitable for a diverse range of tenants. Currently, there is 2,800 square feet of vacant space available, offering immediate occupancy potential. The building features impressive 9-10 foot ceilings, adding to its spacious and airy feel. With a mixed-use zoning designation, the possibilities for development and expansion are significant. The property includes convenient amenities such as over 100 parking spaces, ensuring ample parking for tenants and visitors. Further enhancing its appeal are the building's impeccable finishes, rich woodwork, and access to on-site meeting spaces, a hotel, and dining options within the Urban Place complex. The building is equipped with elevators and a 200-amp power supply, catering to modern business needs. This is a rare opportunity to acquire a beautifully restored, historically significant property in a prime location, offering a strong return on investment. The available space is 2,340 square feet, perfect for a variety of businesses.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $24,955,000
- 6.5%
- $23,035,000
- 7%
- $21,390,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $33,996,000
Market price range: $11.8M - $34.0M
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lancaster
- County
- Lancaster
- State
- Pennsylvania
- Longitude
- -76.2949
- Latitude
- 40.0467
- CBSA code
- 29540
- CBSA name
- LANCASTER, PA METROPOLITAN STATISTICAL AREA