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Property profile & analytics
OFF-MARKET
Estimated value
$4,225,000
Flex space
923 Wellspring Rd New Freedom, PA 17349-8408
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US73-1228879
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2000
Total area
89,369 SF
Lot
6.59 ac (287,060 SF)
Zoning code
I
APN
32-000-CJ-0038.H0-00000
UPID
US73-1228879
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
$5.01M
Blend (final)
Blend
$4.23M
Owner & transaction history
Riach Family Limited Partnership · 9 yrs held
Riach Family Limited Partnership
since 2016
2 recorded transactions
Zoning & alternative use
I · New Freedom, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.8M
+41.0%
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 New Freedom submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Freedom 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
INDUSTRIAL (GENERAL)
$4,840,000
Current use
RETAIL STORES
$6,825,000
Change: +41% · Conversion: Moderate
Blend value · Realmo final
$4.23M
Range $3.80M – $4.65M · ±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
$47 / 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
$67,580
Tax year 2024
Assessed value
$2,301,750
Assessed 2024
Previous assessed
$2,301,750
+0.0% YoY
Effective rate
2.94%
On assessed value
Assessed land
$196,930
Assessed improvement
$2,104,820
Land market value
$196,930
Improvement market value
$2,104,820
Total market value
$2,301,750
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2000
Heating
YES
Cooling
CENTRAL
Total area
89,369 SF
Lot
6.59 ac (287,060 SF)
Zoning code
I
APN
32-000-CJ-0038.H0-00000
UPID
US73-1228879
Jurisdiction
YORK
Zoning & alternative use
I · New Freedom, PA
Zoning I · permitted uses
I · New Freedom, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Freedom. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$4.8M
RETAIL STORES
Est. value
$6.8M
INDUSTRIAL (GENERAL) Current
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
2000
Heating
YES
Cooling
Yes
Lot
6.59 ac
Current owner
From public records · entity-resolved
Riach Family Limited Partnership
Entity
Mailing address
923 E WELLSPRING RD, NEW FREEDOM, PA 17349-8408
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Nov 15, 2016
—
Riach Family Limited Partnership
—
Deed
related
$660,000 · Fulton Bank
Sep 27, 2016
—
Riach Family Limlted Partnrship
—
Deed
related
$2,400,000 · Fulton Bank 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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