Technical
Financial
Distress signals
Property profile

624 Queen St Lancaster, PA 17603

OFF-MARKET
Multifamily properties
Property ID
US73-5909469
4,782 SF 0.63 ac lot Built 1900
Entity Owned 4-yr Hold
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Property summary

AI-generated overview

This exceptional multi-family investment opportunity is located at 624 S Queen Street in Lancaster, Pennsylvania. The property boasts a substantial 4,782 square feet of building space situated on a generous 0.63-acre lot. The property currently comprises five fully leased residential units, providing immediate and consistent cash flow. A significant advantage is the inclusion of ten garages, offering valuable additional income potential or tenant amenities. Beyond the building itself, the property features a sizable parking lot and a large, open area. This expansive vacant land presents a unique opportunity for future development, allowing for potential expansion of the existing structure or the addition of further units to increase density and rental income. The property's prime location, just minutes from Lancaster City Square, ensures high demand and easy access to local amenities, transportation, and employment centers. This is a rare chance to acquire a well-maintained, income-producing multi-family property with significant upside potential in a thriving Lancaster market. The substantial lot size and existing infrastructure make this an attractive proposition for both seasoned investors and those seeking a strong entry point into the commercial real estate market. All units are currently occupied under lease agreements.

Property profile

Verified
Property type Multifamily properties
Year built 1900
Total area 4,782 SF
Lot 0.63 ac (27,443 SF)
UPID US73-5909469

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

624 Queen St Lancaster, PA 17603
Lancaster metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

since 2022
3 recorded transactions
2022
Price N/A
2021
Price N/A
2017
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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