$2,750,000
$2,750,000
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35,109 SqFt
SOLD DATE : 09/06/2024
Key Details
Sold Price $2,750,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 35,109 sqft
Price per Sqft $78
MLS Listing ID PALA2025294
Sold Date 09/06/24
Originating Board BRIGHT
Year Built 1875
Annual Tax Amount $13,363
Tax Year 2023
Lot Size 0.429 Acres
Acres 0.43
Property Description
Assemblage of three (3) contiguous, mixed-use buildings with total gross building area of approximately 35,000 square feet, creating an "L" shape with 45 feet of frontage on N. Queen St and 50 feet on W. Orange St. Excellent location at corner lighted intersection. Highly walkable. Property served by natural gas, electric, public sewer and public water. Located in CB1 Zoning District in Lancaster City, the commercial and cultural core of the Central Business District. Fully leased first floor retail space. Nine third-party lease agreements offer good cash flow. High demand among passive investors or properties of this type if renovated and stabilized as characterized by historically low overall capitalization rates.
Location
State PA
County Lancaster
Area Lancaster City (10533)
Zoning CENTRAL BUSINESS CORE
Interior
Hot Water Electric
Heating Heat Pump(s)
Cooling Other, Central A/C
Heat Source Electric
Exterior
Waterfront N
Water Access N
Accessibility Other
Parking Type None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District School District Of Lancaster
Others
Tax ID 331-71952-0-0000
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Bought with Deepa Balepur • Compass Real Estate, LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "