2101 Queen StYork, PA 17403

Property Details for 2101 Queen St

Year built

2005

Lot size

1.92 AC

Property size (Sq ft)

14,328 SF

Zone code

CM

Property type

Retail space

APN

54-000-04-0087.00-00000

APU

540000400870000000

Description

This exceptional investment opportunity presents a fee-simple ownership of a 14,328-square-foot Walgreens pharmacy located at 2101 S Queen St, York, PA 17403. The property boasts a strong 8.80% cap rate, generating a net operating income (NOI) of $423,999. The absolute NNN lease with Walgreens, a highly creditworthy tenant, has a remaining term of 5.1 years, followed by ten 5-year renewal options, ensuring long-term stability. Built in 2005 on a 1.92-acre lot, this single-tenant property enjoys 100% occupancy. Its strategic location across from a CVS pharmacy within a dense medical corridor, including the major WellSpan York Hospital (2 miles away), and numerous senior housing facilities (within 2 miles), provides a robust customer base. The property benefits from high visibility on South Queen Street, with over 30,000 vehicles passing daily, and proximity to Interstate 83 (over 79,000 vehicles daily), enhancing accessibility. York's thriving industrial sector, with over 61.8 million square feet of industrial space within a 10-mile radius, further strengthens the investment potential. The asking price is $4,818,170, translating to a price per square foot of $336.28. This property offers a compelling combination of a secure, long-term lease, a strong tenant, and a prime location in a growing market. The property's location near major transportation arteries and a significant concentration of medical facilities and senior living communities ensures consistent demand and strong cash flow. The substantial industrial presence in the surrounding area further contributes to the property's long-term value and growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,250,944

  6.5%

  $3,000,872

  7%

  $2,786,524

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,768,634

  Geo Method

  $2,271,464

• Alternative Use

  Use

  Valuation

  Residential

  $2,531,348

  Hospitality

  $2,318,701

  Educational

  $1,929,132

  Medical

  $1,995,478

  Retail

  $3,000,872

Location Insight

City

York

County

York

State

Pennsylvania

Latitude

39.9355

Longitude

-76.6913

CBSA code

49620

CBSA name

YORK-HANOVER, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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