Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    481 Harrisburg Ave Lancaster, PA 17603-2827

    • Retail space
    • 12,312 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $1,670,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2005181
    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

    • Indoor City / Tile Store / Wood And Laminate Flooring Supplier

    Property Details for 481 Harrisburg Ave

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.46 lot acres
    Property size
    12,312 SF
    Zone code
    MU
    Property type
    Retail space
    APN
    339-80572-0-0000
    APU
    3398057200000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,415,000
      6.5%
      $2,230,000
      7%
      $2,070,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,353,000
      Market price range: $839k - $2.32M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,680,000
      Current use
      RESTAURANT
      $2,515,000
      Change: -6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.3165
    Latitude
    40.0496
    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
    $27,244
    $75,600
    $612,900
    $688,500
    -
    $75,600
    $612,900
    $688,500

    Comparable in this City

    • Value Estimation
      $12,640,000
      65,423 SF

      10 Prince St

      RETAIL STORES (PERSONAL SERVICES) • 65,423 SF
      10 Prince St, Lancaster, PA 17603-3951
      View Details
    • Value Estimation
      $6,450,000
      40,374 SF

      425 Prince St

      RETAIL STORES (PERSONAL SERVICES) • 40,374 SF
      425 Prince St, Lancaster, PA 17603-4600
      View Details
    • Value Estimation
      $570,000
      2,442 SF

      2801 Columbia Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,442 SF
      2801 Columbia Ave, Lancaster, PA 17603-4118
      View Details
    • Value Estimation
      $765,000
      4,272 SF

      247 Queen St

      RETAIL STORES (PERSONAL SERVICES) • 4,272 SF
      247 Queen St, Lancaster, PA 17603-3551
      View Details
    • Value Estimation by Request
      13,650 SF

      223 Water St

      RETAIL STORES (PERSONAL SERVICES) • 13,650 SF
      223 Water St, Lancaster, PA 17603-3513
      View Details
    • Value Estimation by Request
      3,143 SF

      124 College Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,143 SF
      124 College Ave, Lancaster, PA 17603-3316
      View Details

    Similar Nearby for Sale

    • $300,000
      2,368 SF

      Lancaster City Mixed-Use Building

      Fully Leased, Renovated 2-Unit Investment
      602 St Joseph St, Lancaster, PA 17603
      View Details
    • $319,900

      Liquor License Business Opportunity

      Liquor license transferable with PALCB and township approval.
      Restaurant Liquor License Lancaster, Lancaster, PA 17603
      View Details
    • $1,750,000
      8,000 SF

      New Construction Mixed-Use Investment Property

      8-unit mixed-use property with restaurant and liquor license for sale.
      2309 Columbia Ave, Lancaster, PA 17603
      View Details
    • $320,000

      Established Turn-Key Business Opportunity

      Profitable gourmet food business in busy Lancaster market.
      23 Market St, Lancaster, PA 17603
      View Details
    • $8,950,000

      Downtown Lancaster Landmark Building

      Iconic 3-story building with retail potential in downtown Lancaster.
      100 N Queen St, Lancaster, PA 17603
      View Details
    • $320,000

      Lancaster Farmers Market Business Opportunity

      Farmers market business for sale in historic Lancaster building.
      23 Market St, Lancaster, PA 17603
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      99,252 SF

      Wheatland Shopping Center: Retail Spaces

      Lancaster County retail center; high traffic, two spaces available.
      1841 Columbia Ave, Lancaster, PA 17603
      View Details
    • $8 SF/Yr
      3,500 SF

      Lancaster City Versatile Leasing Opportunity

      Prime property with retail, office, and warehouse spaces for lease.
      220 Hazel St, Lancaster, PA 17603
      View Details
    • Contact for pricing
      1,500 SF

      Downtown Lancaster Retail/Office Space

      1,500 SF retail/office space in downtown Lancaster.
      347 N Queen St, Lancaster, PA 17603
      View Details
    • $23 SF/Yr
      2,250 SF

      Lancaster Retail Space For Rent

      Retail space available in Giant-anchored Stone Mill Plaza.
      1368-1398 Columbia Ave, Lancaster, PA 17603
      View Details
    • $34,500
      43,560 SF

      Downtown Lancaster Retail/Office/Medical Space

      1,500 SF retail/office/medical space in downtown Lancaster.
      349 N Queen St, Lancaster, PA 17603
      View Details
    • $15 SF/Yr
      2,600 SF

      Retail Space in Woods Edge

      Highly visible retail space in established shopping center for lease.
      100 S Centerville Rd, Lancaster, PA 17603
      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.
    481 Harrisburg Ave
    Lancaster, PA 17603-2827
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.