Active
301 E Liberty St
Lancaster PA, 17602
$4,500,000
Active
Commercial
Built in 1922
This site consists of a mixed use property with a 3 story building which is currently a mix of office and industrial
uses on the east end of the parcel, and a collection of industrial buildings on the west
end of the parcel. Most Industrial uses have drive ins, and a few have dock doors.
Current income from existing use is $300,000 NOI approximately, which provides great income during plans for redevelopment. Most leases are on 1-2 year terms, allowing flexibility for redevelopment.
Great opportunity for a redevelopment into self storage or apartments, with land consisting of 2.3 acres in Lancaster City with improved buildings. The zoning was successfully changed to Mixed Use recently which will allow for a potential density of 148 apartment units.
Architectural renderings show a 104 unit apartment building on the west end which
would call for the removal of industrial buildings. There are also plans for the renovation
of existing buildings on the east end to accommodate an additional 44 units. The
existing parking plan provides 126 parking spaces on site. A parking variance would be
required to provide relief from the parking requirement of 1 space per unit.
Self Storage is also a permitted use limited to 20,000 SF per parcel.
Owner will consider seller financing for qualified buyers with a 30% down payment. Contact listing agent for pro forma operating income and expenses.
PALA2047158
MLSⓇ ID
February 21, 2024
Listed
November 22, 2024
Updated
Map
301 E Liberty St
Lancaster PA, 17602
Interior Features
Fireplace
No
Cooling
No
Heating
Yes
Exterior/Building Features
Lot Size
2.3 Acres
Roof
Metal, Rubber
Sewer
Public Sewer
Other Property Details
Area Name
LANCASTER CITY
Taxes
$43,628
Tax Frequency
Annually
Days on Market
252
Garage
No
Parking Total
30
View
No
County
LANCASTER
Water Source
Public
Pool
No
Zoning
The zoning was successfully changed to Mixed Use which allows for a potential density of 148 apartment units
Listing History
Date | Event | Price |
---|---|---|
9/18/2024 | Price change | $4,500,000 -7% |
8/19/2024 | Price change | $4,800,000 -10% |
Listed by Capstone Commercial
Listing Contact: 7178192825
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Data last updated on 11/22/2024 at 1:55 AM UTC