39 E CHESTNUT Street
39 E CHESTNUT Street Lancaster, Pennsylvania 17602 United States

$7,000,000
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PPM Real Estate, Inc.

$7,000,000
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Commercial
Property type
1954
Year Built
PALA2029498
Web Id
PALA2029498
MLS ID
Lancaster
School District
12
days ago

About 39 E CHESTNUT Street

(See Brochure under Documents.) Property is offered as an investment or partial Owner Occupant. Currently, the Property offers 4 existing Tenant suites and 44 secure parking spaces in lower level garage. One Tenant Space (14,952sf) is currently vacant and is approximately 50% of the total rentable space. With vacancy, current CAP rate is 4% at the asking price. Projected CAP after vacancy is leased is 7.7%. The available space is Class A office, fully furnished, includes parking and has a market value of $17psf NNN, or, is move in ready for Owner Occupant. Site includes 39 East Chestnut Street & 202 North Duke Street. Property is 34,111+/- sq. ft. (not including garage). This building is 100% sprinklered, has heavy IT/data wiring, high efficiency HVAC systems, is ADA compliant and situated on the corner of Chestnut/Duke Streets with 2 adjacent public parking garages. Building was previously home to the Lancaster City Police Station and Firehouse before being developed into the office and retail center it is today. Preliminary studies suggest that the building can support additional levels if the site were to be developed into a higher-rise building. The available space offers several offices/conference rooms which are wired for projectors, open space with existing work stations, private restrooms, furnished break room, direct glass door entrance from Duke Street and direct Elevator access from first floor lobby. 3 Tenants include: Pennsylvania Probation & Parole Administrative Office, PA Options For Wellness & Festoon Boutique (in 202 N Duke Street). All leases are NNN except the PA Probation/Parole office which is a fully gross lease; See brochure for details on income/expense.

Listing Courtesy of PPM Real Estate, Inc.

The data relating to real estate for sale comes in part from Keystone Multi-List. Real estate listings held by brokerage firms other than Anne Lusk Sotheby's International Realty are marked with the Broker Reciprocity logo and information about them includes the name of the listing broker. All information provided is deemed reliable but is not guaranteed and should be independently verified. This 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.

PROPERTY INFORMATION

Cooling
Central A/C
Heating
Central, Forced Air
Parking Description
Private
Sewer
Public Sewer

INTERIOR

Flooring
Ceramic Tile, Partially Carpeted, Vinyl

ADDITIONAL INFORMATION

Body of Water
Public
This Lancaster Commercial is for Sale at $7,000,000 and was built in 1954. Has .

 

PPM Real Estate, Inc.

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