200 Duke StLancaster, PA 17602

Property Details for 200 Duke St

Year built

1954

Property size (Sq ft)

34,111 SF

Property type

Office properties

Description

This exceptional Lancaster, PA office building presents a compelling investment opportunity. Located at 200 N Duke St, this three-story, 34,111 square foot building boasts a prime location in the Central Business District (CBD), zoned accordingly. Constructed in 1954, the property features one building with multiple tenants, currently two, offering a stable income stream. The asking price is $5,800,000, translating to $170.03 per square foot. Approximately 13,000 square feet of office space is available for owner-occupancy or a new end-user, along with an additional 3,500 square feet of adaptable retail space in a retrofitted firehouse at 202 N Duke St. The building includes a 44-car parking garage, plus 3-4 additional spaces behind the building. The property is fully sprinklered, equipped with robust IT/data wiring, high-efficiency HVAC systems, and is ADA compliant. The available office space is highly adaptable, featuring several offices, conference rooms wired for projectors, open workspaces, private restrooms, and a furnished break room. Direct access is available from Duke Street and via elevator from the first-floor lobby and secure garage. The building's history includes service as the Lancaster City Police Station and Firehouse. A projected cap rate of 8.78% at full occupancy is anticipated, with the current NOI from two tenants yielding a 4.2% cap rate at the listed sale price. Occupancy is projected for May 1, 2024. Showings of vacant space are readily available

Location Insight

City

Lancaster

County

Lancaster

State

Pennsylvania

Latitude

40.0413

Longitude

-76.3043

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