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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    835 Houston Run Dr Gap, PA 17527-9489

    • Office Properties & Spaces
    • 54,305 SF
    • 1.04 lot acres
    OFF-MARKET
    Value Estimations
    $6,220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2868289
    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

    • Gap Community Church / Church
    • Carrie Cantrell / Marriage Or Relationship Counselor
    • Potts Elaine R / Counselor
    • Upper Cervical Chhiropractic Neurology Center / Chiropractor
    • Linville Hill Christian School - Upper Campus / School

    Property Details for 835 Houston Run Dr

    Year built
    2009
    Construction
    FRAME
    Lot size
    1.04 lot acres
    Property size
    54,305 SF
    Zone code
    I
    Property type
    Office Properties & Spaces
    APN
    560-79479-0-0000
    APU
    5607947900000

    Description

    This exceptional office space, situated on a 1.04-acre lot within the highly sought-after Houston Run Industrial Park in Gap, Pennsylvania, presents a unique opportunity for businesses seeking a prestigious and convenient location. The property boasts a modern design, creating a professional and inviting atmosphere ideal for a variety of office or retail uses. Its strategic placement within the industrial park offers immediate access to a thriving business community, fostering collaboration and networking opportunities. The proximity to the popular Houston CafГ© adds to the convenience and appeal of this location, providing employees and clients with nearby amenities. This property is perfectly positioned to capitalize on the high demand for commercial space in this area, offering excellent visibility and accessibility for clients and employees alike. The ample space and modern design provide a flexible environment adaptable to various business needs. This is an exceptional chance to establish or relocate your business in a vibrant and well-connected location, surrounded by successful enterprises. The property's location within the Houston Run Industrial Park ensures easy access to major transportation routes, streamlining logistics and enhancing overall operational efficiency. Don't miss this opportunity to secure a prime location for your business's future growth and success. The property is available for lease and offers a compelling combination of modern amenities, convenient location, and a thriving business environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,011,000
      Market price range: $6.90M - $21.3M
      AI Estimate
      $4,613,000
      Market price range: $4.61M - $8.74M

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

    Location Insight

    • Map
    • Local Demand
    City
    Gap
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.0389
    Latitude
    39.9871
    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
    $56,567
    $462,500
    $2,482,300
    $2,944,800
    -
    $462,500
    $2,482,300
    $2,944,800

    Comparable in this City

    • Value Estimation
      $635,000
      5,160 SF

      795 Chestnut St

      OFFICE (GENERAL) • 5,160 SF
      795 Chestnut St, Gap, PA 17527-9620
      View Details
    • Value Estimation
      $760,000
      4,300 SF

      5405 Lincoln Hwy

      OFFICE (GENERAL) • 4,300 SF
      5405 Lincoln Hwy, Gap, PA 17527-9481
      View Details
    • Value Estimation by Request
      4,680 SF

      5847 Lincoln Hwy

      OFFICE (GENERAL) • 4,680 SF
      5847 Lincoln Hwy, Gap, PA 17527-9639
      View Details
    • Value Estimation by Request
      982,485 SF

      766 Brackbill Rd

      OFFICE (GENERAL) • 982,485 SF
      766 Brackbill Rd, Gap, PA 17527-9457
      View Details
    • Value Estimation
      $520,000
      3,200 SF

      937 Rte 41

      OFFICE (GENERAL) • 3,200 SF
      937 Rte 41, Gap, PA 17527-9899
      View Details
    • Value Estimation
      $1,375,000
      8,596 SF

      91 Newport Rd

      OFFICE (GENERAL) • 8,596 SF
      91 Newport Rd, Gap, PA 17527-9579
      View Details

    Similar Nearby for Sale

    • $849,900
      3,138 SF

      Prime Gap Retail Investment

      Three-unit income property, high visibility
      864 Route 41, Gap, PA 17527
      View Details
    • $750,000

      Retail Investment Property For Sale

      Three-unit retail investment property with tenant leases in place.
      864 Route 41, Gap, PA 17527
      View Details
    • $249,000
      1.84 Acres

      Land in Gap, Pennsylvania

      1.84 acres, R-2 zoning, public water and sewer.
      Pleasant Vw Rd, Gap, PA 17527
      View Details
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    835 Houston Run Dr
    Gap, PA 17527-9489
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    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
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