Colonial Quadplex With Commercial
New
For Sale
$219,900
18-20 S MARKET Street, Mechanicsburg, PA 17055
MULTI_FAMILY - Colonial - MECHANICSBURG, PA
Property Size2,184 SF
Lot Size0.03 Acres
Price / SF$100.69
Days on Market3
Property Features for 18-20 S MARKET Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Subdivision
MECHANICSBURG BOROUGH
Middle school
MECHANICSBURG
High school
MECHANICSBURG AREA
Elementary school district
MECHANICSBURG AREA
Middle school district
MECHANICSBURG AREA
High school district
MECHANICSBURG AREA
Standard status
Active
Size
2,184 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
3164
Utilities
Heating system
Electric (Heating), Baseboard
Building Details
Year built
1900
Number of units
4
Building materials
Stick Built
Architectural style
Colonial
Listing Agency:
Iron Valley Real Estate of York County
(717) 316-8777
Listed By:
John P P Wiga · License #AB066147
(717) 577-0938
Added: Aug 7
Last Checked: Aug 9 at 7:06AM
MLS# PACB2057218
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.
Built in 1900, this Colonial-style quadplex contains 2,184 square feet and combines two first-floor commercial spaces with two second-floor apartments. The commercial suites are occupied by the same user and each has its own entrance. Apartment 1 is accessed from the alley and includes 1 bedroom, 1.5 baths, and an additional room that may serve as a second bedroom, office, or craft room. Apartment 2 is a smaller 1-bedroom unit with a separate entrance from the rear parking lot.
The property occupies 0.03 acres at 18-20 S MARKET Street in downtown Mechanicsburg, Pennsylvania. Parking is available on the street, and the building has electric baseboard heating with stick-built construction.
The property occupies 0.03 acres at 18-20 S MARKET Street in downtown Mechanicsburg, Pennsylvania. Parking is available on the street, and the building has electric baseboard heating with stick-built construction.
Key Highlights
- Four‑unit layout with 2 first‑floor commercial spaces and 2 second‑floor apartments
- 2,184 square feet on a 0.03‑acre lot
- Both commercial spaces are leased to the same user
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,447
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$368,940
$368.9K
Cap Rate 7%
$263,529
$263.5K
Cap Rate 9%
$204,967
$205.0K
Market Conditions
NOI Build-Up for 2,184 SF
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.
Gross rent
$35.6K $16.32/SF
− Vacancy
−$2.1K −$0.96/SF
EGI
$33.5K $15.36/SF
− OpEx
−$15.1K −$6.91/SF
NOI
$18.4K $8.45/SF
Area
Cumberland County, PA
Vacancy
5.90%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$368,940
Cap Rate 7%
$263,529
Cap Rate 9%
$204,967
Alternative Uses
Best Use
Retail
$300.3K
$262.8K – $350.4K
NOI $21,024 @ 7.0% cap · market cap 9.56%
Second Best
Multifamily LT 5
$296.9K
$259.8K – $346.3K
NOI $20,780 @ 7.0% cap · market cap 9.45%
Theoretical Best
Office A
$507.3K
$443.9K – $591.9K
NOI $35,513 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
Explore this area
Business Placement
Demographics for 17055, PA
40,353
Population
18,994
Households
2.1
Avg Household Size
42
Median Age
47%
College-Educated
97%
High-School Grad
39.2 sq mi
ZIP Area
1,029
Density / Sq Mi
$95,542
Median Household Income
$55,923
Median Earnings
$1,320
Median Rent
$266,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property pairs first-floor commercial suites with two privately entered apartments above.
Where is this quadplex located?
The property is located at 18-20 S MARKET Street Mechanicsburg, PA.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Four‑unit layout with 2 first‑floor commercial spaces and 2 second‑floor apartments; 2,184 square feet on a 0.03‑acre lot; Both commercial spaces are leased to the same user
