301-341 E Liberty St - Light Distribution FOR SALE


Lancaster, PA 17602- Ross
$4,500,000 USD
717-443-5500
301-341 E Liberty St, Lancaster, PA for Sale
$4,500,000 USD
Light Distribution - FOR SALE
1/3
null | Request Cap Rate

301-341 E Liberty St
Lancaster, PA 17602
Ross


HIGHLIGHTS

  • Hard-to-find redevelopment site located within the rapidly growing Lancaster City
  • Only 3 blocks from Lancaster train station
  • Accommodates significant street level parking, standing out from other apartment sites in Lancaster City
  • Redevelopment site for up to 148 apartment units
  • Zoning permits multifamily use by special exception
  • Quick access to the surrounding area with an entrance to Route 30 only 1.4 miles from the site

OVERVIEW

Redevelopment site for sale, consisting of 2.3 acres of land 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. The site consists of 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. Architectural renderings show a 104-unit apartment building on the west end, which would call for the removal of the industrial buildings. There are also plans for the renovation of the existing buildings on the east end to accommodate an additional 44 units. The existing parking plan provides 126 parking spaces on the site. A parking variance would be required to provide relief from the parking requirement of 1 space per unit. The owner is open to seller financing with a 30% down payment.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$216 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Light Distribution

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1922

UTILITIES

-

CLEAR CEILING HT

18 Ft

DOCKS

3

DRIVE INS

2

PARKING SPACES

40

LAND DETAILS

LAND ACRES

2.3

LAND SF

100,188

ZONING

MU

APN/PARCEL ID

336-05123-0-0000

ASK ABOUT THIS PROPERTY

Ida McMurray, CCIM, SIORCapstone CommercialMore Info
717-443-5500

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Ida McMurray, CCIM, SIORCapstone CommercialMore Info
717-443-5500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.