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 

The IDX display contains information sourced from the Bright MLS, Inc. as of 11/22/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 11/22/2024 at 1:55 AM UTC

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