941 Wheatland Ave Lancaster, PA 17603
- Office properties & Spaces
- 49,456 SF
- 1.87 lot acres
Current Use by Public Records
- Daisy Flour / Big Box & Wholesale Store
- Wallover Aquatics International LLC / General Contractor
- Disability Empowerment Center / Social Service Agency
- David Campbell & Associates / Law Firm
- Snell Engineering Consultants / Consultant / Engineer
Property Details for 941 Wheatland Ave
- Year built
- 1949
- Construction
- BRICK
- Lot size
- 1.87 lot acres
- Property size
- 49,456 SF
- Zone code
- MU
- Property type
- Office properties & Spaces
- APN
- 335-53915-0-0000
- APU
- 3355391500000
Description
Wheatland Place offers exceptional office space in Lancaster City's desirable Woodlawn neighborhood. This four-story, 75,483 square foot building boasts 110 parking spaces, two elevators (one passenger, one freight), and a convenient 10'x10' drive-in door. The building features a welcoming lobby, shared restrooms on each floor, directory signage, 24/7 key card access, and is fully sprinklered. Suites range from 1,069 to 3,494 contiguous square feet, with ceiling heights of 11.0 to 14.0 feet. All suites have fully operable windows. Current available suites include a second-floor space (approx. 1,635 sq ft) with a reception area, open workspace, kitchenette, and five private offices; a third-floor space (approx. 1,069 sq ft) in turnkey condition with an open workspace, private office, and IT room; another third-floor space (approx. 1,565 sq ft) with a reception area, three private rooms, open workspace, and kitchenette; and a fourth-floor suite (3,494 sq ft) available October 1, 2024, offering seven offices/meeting spaces, a kitchen/breakroom, closets, a large open workspace, and stunning views. The building is conveniently located near Route 462, Route 23, Route 222, Route 30, and the Lancaster Amtrak station, providing easy access to major roadways and public transportation. Nearby amenities include Buchanan Park, numerous restaurants, shops, Franklin & Marshall College, Lancaster Penn Medicine, and Clipper Magazine Stadium. The building is ADA accessible and offers potential synergy with existing professional tenants in fields such as finance, engineering, architecture, and consulting. Lease rates are $11-$15 per square foot, NNN, depending on the suite and tenant requirements. The 1.87-acre property, built in 1950, is zoned for mixed use.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $10,235,000
- 6.5%
- $9,450,000
- 7%
- $8,775,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $13,692,000
- AI Estimate
- $13,060,000
Market price range: $8.29M - $19.3MMarket price range: $5.83M - $19.8M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $12,815,000 Current use
- MEDICAL BUILDING
- $11,260,000 Change: -12% Conversion: Easy
- RETAIL STORES
- $10,770,000 Change: -16% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Lancaster
- County
- Lancaster
- State
- Pennsylvania
- Longitude
- -76.3247
- Latitude
- 40.0402
- CBSA code
- 29540
- CBSA name
- LANCASTER, PA METROPOLITAN STATISTICAL AREA