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    941 Wheatland Avenue

    LANCASTER, PA 17603
    • $7,300,000
    • STATUS: Active
    • ON SITE: 29 days
    • ID#: PALA168850
    UPDATED: 71 min ago
    $7,300,000
    • 0
      BEDS
    • 1.87
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1949
    County:

    School Ratings & Info

    School District:

    Description

    100% Commercial Investment Opportunity in the desirable West End of Lancaster City near Franklin & Marshall College. This 4 Story building known as Wheatland Place, is just 2 miles to Route 30 and consists of 75,483 gross sqft, with 40,304 leasable sqft. Income is generated by 18 Tenant suites (all NNN leases) + 2 rooftop cell tower leases. Wheatland Place main entrance features a welcoming lobby with a full glass vestibule, high ceilings, directory signage + seating area. Modernized Tenant suites offer an abundance of large operable windows, flexible floor plans and varying suite sizes. A rare City amenity is the large onsite parking lot offering 109 striped spaces. Additional amenities: Security via an automatic door locking schedule and 24/7 keycard access; 100% Sprinklered; ADA access +ADA Restrooms; passenger elevator by lobby and freight elevator by delivery door for ease of Tenant move in/out; Restrooms on each floor; Central heating system with individual central air for each suite, which are both Tenant controlled and Tenant paid. Tenant Longevity: 50% of Tenants have leased at Wheatland Place for over 10 years. *** Annual Net Operating Income is over $498,000 which includes non-recovered Owner expenses for Management Fee, Leasing Commissions, Landlord repairs and a 5% Vacancy Factor. List price provides a 6.83% CAP. Rent Roll is available upon signing an NDA. - Copy/paste for video preview of property: https://vimeo.com/444197115/f692ffd94d

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    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Joy Daniels Real Estate Group. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-09-20T19:49:31.283.
    www.centralpahomehunter.com/homes/109229043
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    941 Wheatland Avenue LANCASTER, PA 17603

    • Price: $7,300,000
    • Status: Active
    • Updated: 71 min ago
    • ID#: PALA168850
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.87
    Acres
    1949
    Built
    Neighborhood:
    West End Lancaster
    County:
    Lancaster
    Area:
    Lancaster City (10533)
    School District:
    School District Of Lancaster
    Property Description
    100% Commercial Investment Opportunity in the desirable West End of Lancaster City near Franklin & Marshall College. This 4 Story building known as Wheatland Place, is just 2 miles to Route 30 and consists of 75,483 gross sqft, with 40,304 leasable sqft. Income is generated by 18 Tenant suites (all NNN leases) + 2 rooftop cell tower leases. Wheatland Place main entrance features a welcoming lobby with a full glass vestibule, high ceilings, directory signage + seating area. Modernized Tenant suites offer an abundance of large operable windows, flexible floor plans and varying suite sizes. A rare City amenity is the large onsite parking lot offering 109 striped spaces. Additional amenities: Security via an automatic door locking schedule and 24/7 keycard access; 100% Sprinklered; ADA access +ADA Restrooms; passenger elevator by lobby and freight elevator by delivery door for ease of Tenant move in/out; Restrooms on each floor; Central heating system with individual central air for each suite, which are both Tenant controlled and Tenant paid. Tenant Longevity: 50% of Tenants have leased at Wheatland Place for over 10 years. *** Annual Net Operating Income is over $498,000 which includes non-recovered Owner expenses for Management Fee, Leasing Commissions, Landlord repairs and a 5% Vacancy Factor. List price provides a 6.83% CAP. Rent Roll is available upon signing an NDA. - Copy/paste for video preview of property: https://vimeo.com/444197115/f692ffd94d
    Exterior Features

    Construction Materials Brick Garage YN No Location Type Free Standing Lot Features Landscaping Parking Types Parking Lot Property Condition Excellent Riparian Rights YN No Roof Rubber View CityPanoramicTrees/Woods Water Access YN No Water Oriented YN No Waterfront YN No

    Interior Features

    Building Area Total 75483.00 Cooling Central A/C Flooring CarpetHardwoodLaminated Heating Forced Air Heating YN Yes Net Square Feet 75483.00 Security Features 24 Hour SecurityFire Detection SystemMain Entrance LockMonitoredSecurity SystemSprinkler System - Indoor

    Property Features

    Accessibility Features 2+ Access ExitsElevatorGrab Bars Mod32"+ Wide Doors Assessment Year 2020 Association YN No Business Type Professional Central Air YN Yes Cooling Fuel Natural Gas Cross Street North West End AvenueRace Avenue Elevators 2 Entry Level 1 Heating Fuel Natural Gas Hot Water Natural Gas Incorporated City Name Lancaster City Navigable Water YN N Net Operating Income 498583.43 New Construction YN No Number Of Units Total 18 Original MLSNumber 304258348999 Ownership Interest Fee Simple Possession Negotiable Property Sub Type Office Sale Type Standard Sewer Public Sewer Tax Annual Amount 143807.00 Tax Assessment Amount 3897900.00 Utilities Electric Available Vacation Rental YN No Water Source Public Zoning Mixed Use

    Listing courtesy of Progressive Property Mgmt..


    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Joy Daniels Real Estate Group. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-09-20T19:49:31.283.
     
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    Harrisburg PA, 17110