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$ 4,500,000
Est. payment /mo
Active
301 E LIBERTY ST Lancaster, PA 17602
2.3 Acres Lot
UPDATED:
10/30/2024 12:02 AM
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
MLS Listing ID PALA2047158
Originating Board BRIGHT
Year Built 1922
Annual Tax Amount $43,628
Tax Year 2024
Lot Size 2.300 Acres
Acres 2.3
Lot Dimensions 0.00 x 0.00
Property Description
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.
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.
Location
State PA
County Lancaster
Area Lancaster City (10533)
Zoning MIXED USE
Interior
Hot Water Natural Gas
Heating Other
Cooling Other
Heat Source Other
Exterior
Garage Spaces 30.0
Water Access N
Roof Type Rubber,Metal
Accessibility None
Total Parking Spaces 30
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District School District Of Lancaster
Others
Tax ID 336-05123-0-0000
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
Listed by Naomi E Brown • Capstone Commercial