Mixed-Use Triplex with Salon
121 LAUREL Street Lancaster, PA 17603
121 LAUREL Street, Lancaster, PA, 17603
$350,000
For Sale
$350,000
MULTI_FAMILY - Other - LANCASTER, PA
Property Size1,876 SF
Lot Size0.05 Acres
Price / SF$186.57
Days on Market21
Property Features for 121 LAUREL Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Parking
- 2
- Parking features
- Garage - Detached
- Appliances
- Oven/Range - Gas, Refrigerator
- Standard status
- Active
- Size
- 1,876 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4590
Utilities
- Heating system
- Hot Water(Heating), Other (Heating)
Building Details
- Year built
- 1900
- Number of units
- 3
- Building materials
- Brick, Masonry
- Architectural style
- Other
Listing agency
Keller Williams Elite
(717) 553-2500
Listed by
Matthew Joseph Koch · License #RS339842
(717) 788-8347
Added: Jul 2 Updated: Jul 18 at 11:18AM Checked: Jul 22 at 2:06PM
MLS# PALA2090842
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained three-unit mixed-use property includes a street-level commercial space currently leased as a single-chair salon, along with two residential apartments. One apartment is a spacious one-bedroom unit leased for $900 per month, and the other is a vacant two- to three-bedroom apartment that was previously rented for $1,500 per month. Both residential units include existing washer and dryer hookups. The property also features two detached garages for storage or potential rental use.
Recent updates include nearly all replacement windows and a Lead Safe Certification obtained through the city last year. The owner pays water, sewer, trash, and common area electric.
With one residential unit currently vacant and the commercial salon space leased for $575 per month, the property offers a diversified income setup and an opportunity for an owner-occupant or immediate lease-up of the vacant apartment.
Recent updates include nearly all replacement windows and a Lead Safe Certification obtained through the city last year. The owner pays water, sewer, trash, and common area electric.
With one residential unit currently vacant and the commercial salon space leased for $575 per month, the property offers a diversified income setup and an opportunity for an owner-occupant or immediate lease-up of the vacant apartment.
Key Highlights
- Three‑unit mixed‑use property with a street‑level commercial space plus two residential apartments and two detached garages.
- Commercial salon space leased for $575 per month; one residential 1‑bedroom apartment leased for $900 per month.
- Vacant 2- to 3‑bedroom apartment was previously rented for $1,500 per month, offering immediate occupancy/lease‑up flexibility.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.8k | $18.00 |
| − Vacancy | −$2.2k | −$1.19 |
| EGI | $31.5k | $16.81 |
| − OpEx | −$9.5k | −$5.04 |
| NOI | $22.1k | $11.77 |
1,876 SF · lease $18.00/SF/yr · vacancy 6.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$315.4K
$276.0K – $368.0K
NOI $22,078 @ 7.0% cap · market cap 6.31%
Second Best
Multifamily LT 5
$299.4K
$261.9K – $349.3K
NOI $20,955 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$628.7K
$550.1K – $733.4K
NOI $44,006 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Vibes
Clothing Store
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit mixed-use property includes a leased street-level salon plus two apartments and two detached garages.
Where is this triplex located?
The property is located at 121 LAUREL Street Lancaster, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three‑unit mixed‑use property with a street‑level commercial space plus two residential apartments and two detached garages.; Commercial salon space leased for $575 per month; one residential 1‑bedroom apartment leased for $900 per month.; Vacant 2- to 3‑bedroom apartment was previously rented for $1,500 per month, offering immediate occupancy/lease‑up flexibility.
