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Property profile & analytics
FOR SALE
Golf courses & driving ranges
550 Lakewood Dr, Harrisburg, PA 17112
Entity Owned
6-yr Hold
Free & Clear
Property ID
US73-2280517
For Sale
1 / 22
$5,000,000
550 Lakewood Dr, Harrisburg, PA 17112
View Listing →
Property profile
Verified
Property type
Golf courses & driving ranges
Use group
GOLF COURSE
Year built
1965
Total area
7,942 SF
Lot
319.2 ac (13,904,526 SF)
APN
43-040-018
UPID
US73-2280517
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
$855k
Owner & transaction history
King Drive Corp · 6 yrs held
King Drive Corp
since 2020
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$970,000
+37.3%
Commercial (general)
$840,000
+19.0%
Restaurant
$820,000
+16.1%
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 Harrisburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Harrisburg 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$710,000
Current use
AUTO REPAIR, GARAGE
$970,000
Change: +37% · Conversion: Difficult
COMMERCIAL (GENERAL)
$840,000
Change: +19% · Conversion: Difficult
RESTAURANT
$820,000
Change: +16% · Conversion: Difficult
OFFICE BUILDING
$790,000
Change: +11% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$745,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$705,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$705,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$855k
Range $770k – $941k · ±10%
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
$108 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$66,394
Tax year 2023
Assessed value
$2,689,100
Assessed 2024
Previous assessed
$2,697,600
-0.3% YoY
Effective rate
2.47%
On assessed value
Assessed land
$2,395,600
Assessed improvement
$293,500
Land market value
$2,395,600
Improvement market value
$293,500
Total market value
$2,689,100
Applied tax rate
43.0000
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
Golf courses & driving ranges
Use group
GOLF COURSE
Status
For Sale
Year built
1965
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
7,942 SF
Lot
319.2 ac (13,904,526 SF)
APN
43-040-018
UPID
US73-2280517
Jurisdiction
DAUPHIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$710,000
AUTO REPAIR, GARAGE
Est. value
$970,000
COMMERCIAL (GENERAL)
Est. value
$840,000
RESTAURANT
Est. value
$820,000
OFFICE BUILDING
Est. value
$790,000
INDUSTRIAL (GENERAL)
Est. value
$745,000
RETAIL STORES
Est. value
$705,000
MEDICAL BUILDING
Est. value
$705,000
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
INDUSTRIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
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
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Lot
319.2 ac
Current owner
From public records · entity-resolved
King Drive Corp
Entity
Free & Clear · 6 yrs held
Mailing address
1800 LINGLESTOWN RD STE #301, HARRISBURG, PA 17110-3343
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 2020
—
King Drive Corp
King Drive Corp
Correction Deed
related
—
Jul 25, 2011
—
King Drive Corp
—
Deed Of Trust
related
$6,695,848 · Sovereign 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.
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?”
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