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

    53 Duke St Lancaster, PA 17602

    • Office Properties & Spaces
    • 48,264 SF
    • 0.46 lot acres
    For Lease
    View listing
    Value Estimations
    $2,125,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2613468
    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

    • Randall L. Miller Esq / Legal Services
    • Law Office of Stephen W. Grosh / Legal Services / Divorce Lawyer
    • Cody & Pfursich / Criminal Justice Attorney / Personal Injury Attorney
    • Douglas H Cody / Attorney
    • Law Office of Dennis C. Dougherty / Criminal Justice Attorney / Divorce Lawyer

    Property Details for 53 Duke St

    Year built
    1880
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.46 lot acres
    Property size
    48,264 SF
    Zone code
    CB
    Property type
    Office Properties & Spaces
    APN
    332-55952-0-0000
    APU
    3325595200000

    Description

    This four-story, 36,000-square-foot office building at 53 N. Duke St., Lancaster, PA, offers a blend of historic charm and modern functionality. Built in 1880 and renovated in 1993, the Class B property boasts two passenger and freight elevators serving multiple tenants in suites ranging from approximately 142 to 5,200 square feet. Located in Lancaster County's Central Business District, this exceptional location is adjacent to the Lancaster County Courthouse and the Hamilton Club, providing unparalleled access to legal, professional, and civic services. The building features a common lobby, restrooms on each floor, first-floor bicycle storage, and basement file storage. On-site parking is available in a private lot and indoor garage (availability to be confirmed). The building is equipped with 220-volt, 3-phase power. The 0.46-acre lot offers convenient access to downtown Lancaster's vibrant shopping and dining scene, and is just one block from the Duke Street Parking Garage. Flexible lease terms are available

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $2,125,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.3033
    Latitude
    40.0395
    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
    $93,230
    $230,000
    $2,126,100
    $2,356,100
    -
    $230,000
    $2,126,100
    $2,356,100

    Comparable in this City

    • Value Estimation by Request
      0.43 Acres

      29 King St Unit

      Office Properties & Spaces • 0.43 Acres
      29 King St Unit, Lancaster, PA 17602
      View Details
    • Value Estimation by Request
      2,829 SF

      3 Kennedy St

      Office Properties & Spaces • 2,829 SF
      3 Kennedy St, Lancaster, PA 17602
      View Details
    • Value Estimation
      $445,000
      633 SF

      30 Mcgovern Ave

      OFFICE (GENERAL) • 633 SF
      30 Mcgovern Ave, Lancaster, PA 17602-1923
      View Details
    • Value Estimation
      $440,000
      1,027 SF

      Mcgovern Ave

      OFFICE (GENERAL) • 1,027 SF
      Mcgovern Ave, Lancaster, PA 17602
      View Details
    • Value Estimation
      $1,440,000
      1,207 SF

      153 King St Ste, Unit 212

      OFFICE (GENERAL) • 1,207 SF
      153 King St Ste, Lancaster, PA 17602-2812
      View Details
    • Value Estimation
      $100,000
      1,000 SF

      231 Shippen St Ste, Unit 24

      OFFICE (GENERAL) • 1,000 SF
      231 Shippen St Ste, Lancaster, PA 17602-2771
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.43 Acres

      Lancaster City Office Sublease

      Prime Lancaster Office Space - 6,043 SF Available
      29 King St Unit, Lancaster, PA 17602
      View Details
    • $115,000
      1,242 SF

      Professional Condo in Downtown Lancaster

      Upscale condo with offices and conference room in downtown Lancaster.
      128 East Grant St, Lancaster, PA 17602
      View Details
    • $1,895,000
      5,500 SF

      Historic Townhouse with Commercial Space

      Historic Lancaster townhouse with commercial space and residential living.
      121-123 E King St, Lancaster, PA 17602
      View Details
    • $125,000

      Lancaster Office Suite For Sale

      Well-appointed office suite in desirable Shippen Place community.
      231 N Shippen St, Lancaster, PA 17602
      View Details
    • $2,295,000
      30,008 SF

      Downtown Lancaster Office Building

      30,000 SF office building in downtown Lancaster for sale.
      39 N Duke St, Lancaster, PA 17602
      View Details
    • $485,000
      0.85 Acres

      Lincoln Highway Commercial Land

      High-traffic Lancaster commercial lot.
      2031 Lincoln Hwy, Lancaster, PA 17602
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,829 SF

      Lancaster Executive Office Space

      Prime Lancaster location, 2,829 sq ft available.
      3 Kennedy St, Lancaster, PA 17602
      View Details
    • Contact for pricing
      36,000 SF

      Lancaster Office Building - Prime Location

      Historic Charm, Modern Amenities, Flexible Lease
      53 Duke St, Lancaster, PA 17602
      View Details
    • $23 SF/Yr
      72,655 SF

      King Street Office Suite 101

      Prime Lancaster Office Space: 6,043 sq ft available
      29 King St, Lancaster, PA 17602
      View Details
    • $41 SF/Yr
      1,802 SF

      Lancaster Highway Commercial Pad Site

      Prime Lancaster location, 10 acres, 1,802 sqft.
      2090 Lincoln Hwy, Lancaster, PA 17602
      View Details
    • $1,000 /Mo
      10,400 SF

      Lancaster Office and Flex Space

      Office and flex spaces available for lease in Lancaster, PA.
      1863 Lincoln Hwy E, Lancaster, PA 17602
      View Details
    • Contact for pricing
      132 SF

      High-Visibility Retail and Office Space

      Retail and office spaces with strong traffic, near Lancaster station.
      28-32 E Mcgovern Ave, Lancaster, PA 17602
      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.
    53 Duke St
    Lancaster, PA 17602
    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.