301 Liberty StLancaster, PA 17602

This exceptional mixed-use redevelopment opportunity encompasses a 2.3-acre site in Lancaster City, Pennsylvania, featuring 67,000 square feet of existing space across eleven buildings. Currently operating at 93% occupancy with 31 units, the property boasts a strong pro-forma NOI of $2,187,432 and an 8.29% pro-forma cap rate. The asking price is $4,500,000 ($67.16/sq ft). Recently rezoned for mixed-use, this site allows for a potential density of up to 148 apartment units. Architectural renderings detail a proposed 104-unit apartment building on the west end, requiring demolition of existing industrial structures. Plans also include renovating existing buildings on the east end to create an additional 44 units. The property currently includes 126 parking spaces, though a variance may be needed to meet full occupancy requirements. Built in 1922 and renovated in 2022, the three-story main building currently houses a mix of office and industrial tenants. This prime location is just three blocks from the Lancaster train station, within walking distance of Lancaster General Hospital and downtown amenities, and offers convenient access to Route 30. Seller financing is available with a 30% down payment. This is a rare chance to acquire a large-scale redevelopment project in a thriving Lancaster City market. The property's APN is 336-2374051-265623-0-0000.