Mixed-Use Property With
For Sale
$399,000
3 S MAIN STREET, Mercersburg, PA 17236
Multi-Family, MERCERSBURG, PA
Property Size2,500 SF
Lot Size0.11 Acres
Price / SF$159.60
Days on Market90
Property Features for 3 S MAIN STREET
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Elementary school district
TUSCARORA
Middle school district
TUSCARORA
High school district
TUSCARORA
Standard status
Active
Size
2,500 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
5744
Utilities
Heating system
Other (Heating)
Cooling system
Ductless
Building Details
Year built
1792
Number of units
4
Building materials
Log, Vinyl Siding
Architectural style
Other
Listing Agency:
Keller Williams of Central PA · Keller Williams Realty
(717) 761-4300
Listed By:
Lauren Gardner · License #RS365621
(717) 609-6059
Added: Jun 27
Changed: Sep 5
Last Checked: Sep 24 at 6:06AM
MLS# PAFL2035776
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.
Located at 3 S Main Street in Mercersburg, this 2500-square-foot mixed-use property combines commercial and residential components within a 0.11-acre parcel. The layout includes two commercial spaces serving the main and lower levels, along with two residential apartments positioned above. The building dates to 1792 and features log and vinyl siding construction materials.
Property systems include ductless cooling and other heating equipment. On-street parking is available, and the Main Street address places the property within Mercersburg. The combination of commercial space and apartments supports a range of owner-user or leasing configurations, subject to applicable requirements.
Property systems include ductless cooling and other heating equipment. On-street parking is available, and the Main Street address places the property within Mercersburg. The combination of commercial space and apartments supports a range of owner-user or leasing configurations, subject to applicable requirements.
Key Highlights
- Two commercial spaces occupying the main and lower levels
- Two residential apartments located above the commercial areas
- 2500 square feet on a 0.11‑acre parcel
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
$24,864
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
6.23%
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%
$497,280
$497.3K
Cap Rate 7%
$355,200
$355.2K
Cap Rate 9%
$276,267
$276.3K
Market Conditions
NOI Build-Up for 2,500 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
$38.4K $15.36/SF
− Vacancy
−$2.9K −$1.15/SF
EGI
$35.5K $14.21/SF
− OpEx
−$10.7K −$4.26/SF
NOI
$24.9K $9.95/SF
Area
Franklin County, PA
Vacancy
7.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
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%
$497,280
Cap Rate 7%
$355,200
Cap Rate 9%
$276,267
Alternative Uses
Best Use
Multifamily LT 5
$355.2K
$310.8K – $414.4K
NOI $24,864 @ 7.0% cap · market cap 6.23%
Second Best
Mixed Use
$353.6K
$309.4K – $412.5K
NOI $24,750 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$606.2K
$530.4K – $707.2K
NOI $42,432 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 17236, PA
8,620
Population
3,741
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
89%
High-School Grad
125.7 sq mi
ZIP Area
69
Density / Sq Mi
$81,074
Median Household Income
$42,283
Median Earnings
$986
Median Rent
$250,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial spaces and two apartments create a flexible blended-use configuration on Main Street.
Where is this mixed-use property located?
The property is located at 3 S MAIN STREET Mercersburg, PA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two commercial spaces occupying the main and lower levels; Two residential apartments located above the commercial areas; 2500 square feet on a 0.11‑acre parcel
