480 New Holland AveLancaster, PA 17602

Property Details for 480 New Holland Ave

Year built

1919

Construction

STEEL FRAME

Lot size

7.50 AC

Property size (Sq ft)

120,547 SF

Zone code

MU

Property type

Office properties

Property subtype

Other office properties

APN

336-76484-0-0000

APU

3367648400000

Description

This exceptional three-story, 105,000 square foot office building, originally constructed in 1865 and extensively renovated in 2005, presents a unique investment opportunity. Located at 480 New Holland Avenue, the property boasts a blend of creative, traditional, and medical office spaces, making it suitable for a diverse range of tenants. Currently, there is 2,800 square feet of vacant space available, offering immediate occupancy potential. The building features impressive 9-10 foot ceilings, adding to its spacious and airy feel. With a mixed-use zoning designation, the possibilities for development and expansion are significant. The property includes convenient amenities such as over 100 parking spaces, ensuring ample parking for tenants and visitors. Further enhancing its appeal are the building's impeccable finishes, rich woodwork, and access to on-site meeting spaces, a hotel, and dining options within the Urban Place complex. The building is equipped with elevators and a 200-amp power supply, catering to modern business needs. This is a rare opportunity to acquire a beautifully restored, historically significant property in a prime location, offering a strong return on investment. The available space is 2,340 square feet, perfect for a variety of businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $18,606,430

  6.5%

  $17,175,166

  7%

  $15,948,368

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,243,487

  Geo Method

  $7,583,612

• Alternative Use

  Use

  Valuation

  Residential

  $21,297,206

  Hospitality

  $19,508,126

  Educational

  $16,230,532

  Medical

  $16,788,724

  Retail

  $25,247,494

Location Insight

City

Lancaster

County

Lancaster

State

Pennsylvania

Latitude

40.0467

Longitude

-76.2949

CBSA code

29540

CBSA name

LANCASTER, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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