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Property profile & analytics
OFF-MARKET
Industrial land
515 Ice Ave Lancaster, PA 17602
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US73-0322710
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Lot
0.51 ac (22,216 SF)
Zoning code
CM
APN
336-18780-0-0000
UPID
US73-0322710
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mds Real Estate LLC · 9 yrs held
Mds Real Estate LLC
since 2016
6 recorded transactions
Zoning & alternative use
CM · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
arger sight triangle for a parking lot. Maximum Height of Fences, Walls and Hedges Height Limitations Measured from Grade Residential Districts R1, R2, R3, R4, RO, MU (feet) Nonresidential Districts C1, C2, C3, CB, CB1, CM, SM, DF, HC, PO (feet) Residential property Fences and walls Minimum front yard 4*** 4*** Secondary front yard* 6 6 Side and rear yard 6…
Zone name
Manufacturing Central City
General category
INDUSTRIAL
Zone area
697.74 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lancaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lancaster submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$5,366
Tax year 2024
Assessed value
$135,600
Assessed 2024
Previous assessed
$135,600
+0.0% YoY
Effective rate
3.96%
On assessed value
Assessed land
$135,600
Land market value
$135,600
Total market value
$135,600
Applied tax rate
336.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Heating
NONE
Lot
0.51 ac (22,216 SF)
Zoning code
CM
APN
336-18780-0-0000
UPID
US73-0322710
Jurisdiction
LANCASTER
Zoning & alternative use
CM · Lancaster, PAZoning CM · permitted uses
CM · Lancaster, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
arger sight triangle for a parking lot. Maximum Height of Fences, Walls and Hedges Height Limitations Measured from Grade Residential Districts R1, R2, R3, R4, RO, MU (feet) Nonresidential Districts C1, C2, C3, CB, CB1, CM, SM, DF, HC, PO (feet) Residential property Fences and walls Minimum front yard 4*** 4*** Secondary front yard* 6 6 Side and rear yard 6 6 Permitted building area 6 6 Hedges Front yard 4 4 Secondary front yard* 6 6 Side
Zone name
Manufacturing Central City
General category
INDUSTRIAL
Zone area
697.74 ac
Building & site characteristics
From public records
Heating
NONE
Lot
0.51 ac
Current owner
From public records · entity-resolved
Mds Real Estate LLC
Entity
Mailing address
594 HANNIGAN DR, LANCASTER, PA 17601-5096
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2016
$595,000
Mds Real Estate LLC
Jh Real Estate LP
Deed
$476,000 · First National Bank Of Pennsylvania
Apr 9, 2009
$450,000
Jh Real Estate
Shand Associates
Grant Deed
$360,000 · Graystone Bank
Jun 11, 2004
$325,000
Shand Associates LP
Consumer Packing Co
Grant Deed
$500,000 · Bank Of Lancaster County NA
—
—
Jh Real Estate
—
Deed Of Trust
related
$300,000 · Graystone Bank
—
—
Shand Associates
—
Deed Of Trust
related
$400,000 · Graystone Bank
—
—
Jh Real Estate LP
—
Deed Of Trust
related
$125,000 · Graystone Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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