801 Prince StLancaster, PA 17603

Property Details for 801 Prince St

Year built

1948

Construction

STEEL FRAME

Lot size

0.22 AC

Property size (Sq ft)

2,254 SF

Zone code

C2

Property type

Auto shops

APN

334-16006-0-0000

APU

3341600600000

Description

This exceptional investment opportunity presents a fully operational auto repair, body, and paint shop ideally situated in Lancaster City at 801 S Prince Street. Boasting a prime corner location on a 0.22-acre lot, this property offers unparalleled visibility and convenient access to downtown Lancaster. The building's strategic placement is further enhanced by its proximity to a new, mixed-use development, promising increased foot traffic and potential clientele. The 2,254 square foot facility includes three separate bay doors, providing ample space for various automotive services. A dedicated paint area, equipped with a paint booth and heater, caters to body repair needs. The shop also features a comfortable office waiting area and over 20 parking spaces, ensuring convenience for both customers and staff. Included in the sale are two car lifts, an air compressor, and all paint booth equipment. This turnkey operation presents a rare opportunity for investors, entrepreneurs, or established mechanics seeking expansion. The existing business is included in the sale, offering immediate revenue potential. This is a truly remarkable opportunity to acquire a well-established and profitable business in a rapidly developing area of Lancaster City. The asking price is $450,000.

• CAP approach

  CAP return

  Valuation

  6%

  $511,420

  6.5%

  $472,080

  7%

  $438,360

• Comparable approach

  Method

  Valuation

  Relative Method

  $435,546

  Geo Method

  $357,334

• Alternative Use

  Use

  Valuation

  Residential

  $398,217

  Hospitality

  $364,765

  Educational

  $303,480

  Medical

  $313,917

  Retail

  $472,080

Location Insight

City

Lancaster

County

Lancaster

State

Pennsylvania

Latitude

40.0248

Longitude

-76.305

CBSA code

29540

CBSA name

LANCASTER, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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