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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Investment properties
903 Wheatland Ave Lancaster, PA 17603-3134
Entity Owned
4-yr Hold
Property ID
US73-0319250
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1901
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,134 SF
Lot
0.2 ac (8,712 SF)
Zoning code
R1
APN
335-92811-0-0000
UPID
US73-0319250
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
Current use
Occupant on record · Public records
-
Latte' Nails Nail Salon
-
Apartments At Richmond Square Apartment Building
-
Susanne Umiker Spurlock Life & Wellness Counselor Counselor
-
Pocket Books Shop (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$805k
CAP Approach
CAP
$600k
Comparable Approach
Comparable
$991k
Blend (final)
Blend
$725k
Owner & transaction history
Pocket Books Shop LLC · 4 yrs held
Pocket Books Shop LLC
since 2022
Last sale
$450,000
3 recorded transactions
Zoning & alternative use
R1 · Lancaster, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$745,000
ML approach
$805,000
CAP Approach
CAP Return
Estimation
6%
$650,000
6.5%
$600,000
7%
$555,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$810,000
Current use
MEDICAL BUILDING
$715,000
Change: -12% · Conversion: Easy
RETAIL STORES
$680,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$725k
Range $653k – $798k · ±10% · vs last sale $450k (Feb 1 2022)
Last sale anchor
$450k
Feb 1 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
$231 / 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
$11,701
Tax year 2024
Assessed value
$295,700
Assessed 2024
Previous assessed
$295,700
+0.0% YoY
Effective rate
3.96%
On assessed value
Assessed land
$79,000
Assessed improvement
$216,700
Land market value
$79,000
Improvement market value
$216,700
Total market value
$295,700
Applied tax rate
335.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1901
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
3
Units
1
Rooms
11
Bathrooms
2
Total area
3,134 SF
Lot
0.2 ac (8,712 SF)
Zoning code
R1
APN
335-92811-0-0000
UPID
US73-0319250
Jurisdiction
LANCASTER
Zoning & alternative use
R1 · Lancaster, PA
Zoning R1 · permitted uses
R1 · 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) Current
Est. value
$810,000
MEDICAL BUILDING
Est. value
$715,000
RETAIL STORES
Est. value
$680,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RETAIL STORES
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
1901
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
3
Units
1
Rooms
11
Bathrooms
2
Lot
0.2 ac
Current owner
From public records · entity-resolved
Pocket Books Shop LLC
Entity
Mailing address
903 WHEATLAND AVE, LANCASTER, PA 17603-3134
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2022
$450,000
Pocket Books Shop LLC
Leed Real Estate LLC
Deed
$360,000 · Orrstown Bank
Jul 26, 2016
$250,000
Leed Real Estate LLC
Oak Tree Development Group LLC
Deed
$200,000 · S & T Bank
Jun 7, 2005
$178,000
Oak Tree Dev Group LLC
West End Properties LLC
Grant Deed
—
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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