1521 Oregon PikeLancaster, PA 17601

Property Details for 1521 Oregon Pike

Year built

1983

Construction

BRICK

Lot size

1.05 AC

Property size (Sq ft)

3,554 SF

Zone code

B-3

Property type

Turn key restaurants

APN

390-91013-0-0000

APU

3909101300000

Description

This 3,554 square-foot freestanding building, formerly a Friendly's restaurant, is available for lease. Situated on a 1.05-acre lot in Lancaster, Pennsylvania, it enjoys a high-traffic location on Oregon Pike, a major north-south corridor providing easy access to Lititz Pike and Route 30. The property benefits from its position within a strong retail area, surrounded by established businesses including Giant, Planet Fitness, AutoZone, Primanti Bros., and Monro Auto. The B3 Business District zoning allows for a variety of uses, making it suitable for retail, restaurant, or medical businesses. The building presents an excellent opportunity for a business seeking to establish a presence in this growing market, with options for ground leasing or retrofitting the existing structure. The property's proximity to downtown Lancaster, Franklin and Marshall College, Clipper Magazine Stadium, and a large residential population ensures a substantial customer base. This location offers exceptional visibility and accessibility, making it an ideal choice for businesses seeking a prominent position in a thriving commercial area. The property is located at 1521 Oregon Pike, Lancaster, PA 17601.

• CAP approach

  CAP return

  Valuation

  6%

  $806,383

  6.5%

  $744,354

  7%

  $691,186

• Comparable approach

  Method

  Valuation

  Relative Method

  $686,748

  Geo Method

  $563,427

• Alternative Use

  Use

  Valuation

  Residential

  $627,890

  Hospitality

  $575,144

  Educational

  $478,513

  Medical

  $494,970

  Retail

  $744,354

Location Insight

City

Lancaster

County

Lancaster

State

Pennsylvania

Latitude

40.0624

Longitude

-76.3051

CBSA code

29540

CBSA name

LANCASTER, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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