Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Parking lots & garages
545 Lk St Lancaster, PA 17603
Entity Owned
4-yr Hold
Free & Clear
Property ID
US73-0699816
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1965
Total area
6,200 SF
Lot
0.14 ac (6,098 SF)
Zoning code
C2
APN
338-55617-0-0000
UPID
US73-0699816
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
$765k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$615k
Blend (final)
Blend
$710k
Owner & transaction history
R3 House LLC · 4 yrs held
R3 House LLC
since 2021
Last sale
$475,000
7 recorded transactions
Zoning & alternative use
C2 · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
h may require a larger 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…
Zone name
Commercial Urban
General category
COMMERCIAL
Zone area
87.67 ac
Top alternative use upside
Warehouse, storage
$1.0M
+34.9%
Auto repair, garage
$950,000
+23.9%
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
Method
Estimation
Statistic approach
$925,000
ML approach
$765,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$765,000
Current use
WAREHOUSE, STORAGE
$1,035,000
Change: +35% · Conversion: Difficult
AUTO REPAIR, GARAGE
$950,000
Change: +24% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$710,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$710k
Range $639k – $781k · ±10% · vs last sale $475k (Nov 19 2021)
Last sale anchor
$475k
Nov 19 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$115 / SF
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
$412
Tax year 2024
Assessed value
$10,400
Assessed 2024
Previous assessed
$10,400
+0.0% YoY
Effective rate
3.96%
On assessed value
Assessed land
$8,400
Assessed improvement
$2,000
Land market value
$8,400
Improvement market value
$2,000
Total market value
$10,400
Applied tax rate
338.0000
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1965
Heating
NONE
Total area
6,200 SF
Lot
0.14 ac (6,098 SF)
Zoning code
C2
APN
338-55617-0-0000
UPID
US73-0699816
Jurisdiction
LANCASTER
Zoning & alternative use
C2 · Lancaster, PAZoning C2 · permitted uses
C2 · Lancaster, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
h may require a larger 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 fro
Zone name
Commercial Urban
General category
COMMERCIAL
Zone area
87.67 ac
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$765,000
WAREHOUSE, STORAGE
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$950,000
INDUSTRIAL (GENERAL)
Est. value
$710,000
PARKING LOT Current
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1965
Heating
NONE
Lot
0.14 ac
Current owner
From public records · entity-resolved
R3 House LLC
Entity
Free & Clear · 4 yrs held
Mailing address
150 S PRINCE ST, LANCASTER, PA 17603-5312
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 18, 2022
—
R3 House LLC
—
Deed
related
$300,000 · S & T Bank
Nov 19, 2021
$475,000
R3 House LLC
Michele L Glick
Deed
—
Apr 11, 2013
$361,000
Michele L Glick
Zuercher,karyn M & Stefen L
Grant Deed
$331,500 · Metropolitan Bank
Feb 7, 2007
$150,000
Stefen L Zuercher
Manufacturers & Trustaders Trust
Grant Deed
$120,000 · Susquehanna Bank Pa
Nov 15, 2004
$5,035
Manufacturers & Trustaders Trust Co
Sheriff Of Lancaster County
Trustees Deed
—
—
—
Stefen L Zuercher
—
Deed Of Trust
related
$210,000 · Belco Community Cu
—
—
Elnora B Chikaka
—
Deed Of Trust
related
$197,500 · Brickus Funieral Homes INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 545 Lk St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
