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$2,750,000
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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.
Full Property Details
Full Property Details for 50-54 N Queen & 12 W Orange St
General
- Sold For: $2,750,000
- Taxes: $13,363 (2023)
- Status: Closed
- Type: Retail
- Source: BrightMLSPhilly
- MLS ID: PALA2025294
- Added to Site: 1, 250 day(s) ago
Business
- Business Type: Apartment Building, Hair Salon and Spa, Other/Genera
Parking
- Parking Type: None
Location
- Area: Lancaster City (10533)
- Municipality: LANCASTER CITY
- County: Lancaster
- Driving Directions: 1st block of N. Queen St, coming from the Square. Property on Left.
Heating & Cooling
- Central air: Yes
- Cooling Type: Other, Central A/C
- Cooling Fuel: Other, Electric
- Heating Type: Heat Pump(s)
- Heating Fuel: Electric
- Water Heater: Electric
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Construction: Brick
- Stories/Levels: 0
- Year Built: 1875
- Year Built Source: Assessor
Unit Information
- # Tenants: Multiple
Lot Features
- Lot Size (Acres): 0.43
- Lot Size (Sq. Ft.): 18,700
- Lot Size Source: Estimated
- Zoning: CENTRAL BUSINESS CORE
Financial Considerations
- Price Per Sq. Ft.: $78.33
- Assessment Year: 2023
- School Tax: $8,021
- City/TownTax: $4,341
- City/TownTax Freq: Annually
- County Tax: $999
- County Tax Freq: Annually
- Tax w/Assessment: $343,500
- Tax Amount: $13,363
- Tax Year: 2023
Disclosures and Reports
- Ownership: Fee Simple
Listed and Sold by Compass Real Estate, LLC, Deepa Balepur
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Schools
Schools serving 50-54 N Queen & 12 W Orange St
School District:Lancaster School District
| Name | Grades | Distance |
|---|---|---|
Fulton El School, Lancaster, PA 225 West Orange Street, Lancaster, PA 17603 | PK-5 | 0.2 mi |
Reynolds Middle School 605 West Walnut Street, Lancaster, PA 17603 | 6-8 | 0.7 mi |
Mccaskey Campus 445 North Reservoir Street, Lancaster, PA 17602 | 9-12 | 1 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 50-54 N Queen & 12 W Orange St
Date
Details
Price
Change
Source
9/06/2024
Sold
$2,750,000
—
MLS
6/01/2023
Price Reduced
$2,750,000
-14.06%
MLS
4/03/2023
Price Reduced
$3,200,000
-3.03%
MLS
3/01/2023
Price Reduced
$3,300,000
-2.94%
MLS
2/15/2023
Price Reduced
$3,400,000
-2.86%
MLS
12/12/2022
Price Reduced
$3,500,000
-2.78%
MLS
12/02/2022
Price Reduced
$3,600,000
-5.26%
MLS
11/04/2022
Price Reduced
$3,800,000
-3.8%
MLS
9/19/2022
Listed
$3,950,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
50-54 N Queen & 12 W Orange Street, Lancaster, PA 17603 (MLS# PALA2025294) is a Retail property that was sold at $2,750,000 on September 06, 2024. Want to learn more about 50-54 N Queen & 12 W Orange Street? Do you have questions about finding other Retail real estate for sale in Lancaster? You can browse all Lancaster real estate or contact a Coldwell Banker agent to request more information.

