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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Assisted living facilities
6 Reese Ave Lancaster, PA 17602-3964
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US73-5980507
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1986
Construction
FRAME
Total area
3,652 SF
Lot
0.33 ac (14,375 SF)
Zoning code
R-2
APN
320-55085-0-0000
UPID
US73-5980507
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
$545k
Owner & transaction history
Rees Willow LLC · 4 yrs held
Rees Willow LLC
since 2022
Last sale
$510,000
5 recorded transactions
Zoning & alternative use
R-2 · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$655,000
+502.3%
Medical building
$585,000
+440.5%
Auto repair, garage
$470,000
+330.9%
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
$620,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$655,000
Change: +502% · Conversion: Difficult
MEDICAL BUILDING
$585,000
Change: +440% · Conversion: Difficult
AUTO REPAIR, GARAGE
$470,000
Change: +331% · Conversion: Difficult
RETAIL STORES
$425,000
Change: +293% · Conversion: Difficult
WAREHOUSE, STORAGE
$375,000
Change: +244% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±10% · vs last sale $510k (Apr 4 2022)
Last sale anchor
$510k
Apr 4 2022
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
$149 / 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
$6,555
Tax year 2024
Assessed value
$296,300
Assessed 2024
Previous assessed
$296,300
+0.0% YoY
Effective rate
2.21%
On assessed value
Assessed land
$53,600
Assessed improvement
$242,700
Land market value
$53,600
Improvement market value
$242,700
Total market value
$296,300
Applied tax rate
320.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1986
Construction
FRAME
Heating
YES
Cooling
YES
Stories
2
Total area
3,652 SF
Lot
0.33 ac (14,375 SF)
Zoning code
R-2
APN
320-55085-0-0000
UPID
US73-5980507
Jurisdiction
LANCASTER
Zoning & alternative use
R-2 · Lancaster, PA
Zoning R-2 · permitted uses
R-2 · Lancaster, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lancaster. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$655,000
MEDICAL BUILDING
Est. value
$585,000
AUTO REPAIR, GARAGE
Est. value
$470,000
RETAIL STORES
Est. value
$425,000
WAREHOUSE, STORAGE
Est. value
$375,000
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
1986
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
0.33 ac
Current owner
From public records · entity-resolved
Rees Willow LLC
Entity
Mailing address
672 EMERALD DR, LANCASTER, PA 17603-6848
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2022
$510,000
Rees Willow LLC
Thomas S Megargee
Deed
$408,000 · Bank Of Bird In Hand
Nov 7, 2012
$200,000
Thomas J Megargee
Ccc Real Estate Holding Co LLC
Grant Deed
$160,000 · Susquehanna Bank
Aug 24, 2011
$7,685
Ccc Real Estate Holding Co LLC
Acting Sheriff Of Lancaster Cnty
Trustees Deed
related
—
Oct 6, 2005
$441,000
Rebecca J Williams
Equity Housing Corp
Deed
$396,000 · Newtek Small Business Finance INC
—
—
Equity Housing Corp
—
Deed Of Trust
related
$605,000 · Bank Of Lancaster County NA
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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