Two-Unit Mixed-Use
15 N LIME Street Lancaster, PA 17602
15 N LIME Street, Lancaster, PA, 17602
$645,000
For Sale
$645,000
MULTI_FAMILY - Other - LANCASTER, PA
Property Size2,641 SF
Lot Size0.06 Acres
Price / SF$244.23
Days on Market65
Property Features for 15 N LIME Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 4
- Parking features
- Driveway
- Standard status
- Active
- Size
- 2,641 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Annual Amount
- 9540
Utilities
- Heating system
- Forced Air
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1870
- Number of units
- 2
- Building materials
- Masonry, Brick
- Architectural style
- Other
Listing Agency
Lusk & Associates Sotheby's International Realty
(717) 291-9101
100 Foxshire Drive, Lancaster, PA
Listed by
Anne M Lusk · License #RS210178L
(717) 271-9339
Added: May 15 Checked: Jul 18 at 3:06 am
MLS# PALA2088330
Listing URL
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 two-unit mixed-use building features a blank-slate commercial space on the first floor, including two half baths, offering flexibility for a variety of business uses. The second floor is designed as a residential unit with two bedrooms, two full bathrooms, and a spacious living area.
Located in Downtown Lancaster near Musser Park, the property is within walking distance of Central Market, the Fulton Theatre, the Ware Center, and the courthouse. Off-street parking for up to four vehicles is included for both the commercial space and the residential unit.
With separate uses across two levels and on-site parking, the building can support an owner-occupant or investor plan while maintaining a straightforward two-unit configuration.
Located in Downtown Lancaster near Musser Park, the property is within walking distance of Central Market, the Fulton Theatre, the Ware Center, and the courthouse. Off-street parking for up to four vehicles is included for both the commercial space and the residential unit.
With separate uses across two levels and on-site parking, the building can support an owner-occupant or investor plan while maintaining a straightforward two-unit configuration.
Key Highlights
- Two‑unit building in Downtown Lancaster in the Musser Park area
- First‑floor commercial space with 2 half baths, ready to customize for business use
- Second‑floor apartment includes 2 bedrooms, 2 full bathrooms, and a spacious living area
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 | $47.5k | $18.00 |
| − Vacancy | −$3.1k | −$1.19 |
| EGI | $44.4k | $16.81 |
| − OpEx | −$13.3k | −$5.04 |
| NOI | $31.1k | $11.77 |
2,641 SF · lease $18.00/SF/yr · vacancy 6.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$444.0K
$388.5K – $518.0K
NOI $31,080 @ 7.0% cap · market cap 4.82%
Second Best
Multifamily LT 5
$421.4K
$368.8K – $491.7K
NOI $29,500 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$885.0K
$774.4K – $1.03M
NOI $61,951 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Honaman Longo & Longo ...
Law Firm
Lancaster Stands Up
Volunteer Organization
Beauty By Judelyne ...
Hair Salon
Longo Robert A
Law Firm
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FAQs
What type of property is this?
Duplex - Two-unit building with a blank commercial first floor and a 2-bedroom, 2-bath apartment above, plus off-street parking.
Where is this duplex located?
The property is located at 15 N LIME Street Lancaster, PA.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Two‑unit building in Downtown Lancaster in the Musser Park area; First‑floor commercial space with 2 half baths, ready to customize for business use; Second‑floor apartment includes 2 bedrooms, 2 full bathrooms, and a spacious living area
