Turnkey Restaurant/Retail Property in
For Sale
$1,500,000
30 W LEMON Street, Lancaster, PA 17603
Commercial Sale - LANCASTER, PA
Property Size4,500 SF
Lot Size0.07 Acres
Price / SF$333.33
Days on Market165
Property Features for 30 W LEMON Street
General Information
Property type
Other
Property subtype
Retail
Elementary school district
SCHOOL DISTRICT OF LANCASTER
Middle school district
SCHOOL DISTRICT OF LANCASTER
High school district
SCHOOL DISTRICT OF LANCASTER
Standard status
Active
Size
4,500 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
13743
Building Details
Year built
1995
Building materials
Brick
Listing Agency:
Compass Real Estate, LLC
(717) 431-8300
Listed By:
Deepa Balepur · License #RM425415
(717) 808-3531
Added: Mar 18
Changed: Jun 9
Last Checked: Aug 29 at 11:06AM
MLS# PALA2084810
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 in the heart of Downtown Lancaster, 30 W Lemon Street is a turnkey restaurant or retail property. The property, originally built in 1910, was fully renovated in 2023 with over $850,000 in improvements. The property features extensive structural upgrades, large modern windows, and a refreshed interior. The property is +/- 4,500 SF. Zoned CB1 (Central Business Core), this property includes both the real estate and business assets, complemented by valuable CRIZ credits. The location offers exceptional visibility, heavy foot traffic, and vibrant urban energy. The property is surrounded by acclaimed restaurants, galleries, and entertainment venues and is just steps from Gallery Row, Lancaster Central Market and Clipper Magazine Stadium. The lot size is 0.07 acres.
Key Highlights
- Turnkey +/- 4,500 SF restaurant or retail property in Downtown Lancaster.
- Fully renovated in 2023 with over $850,000 in improvements, including extensive structural upgrades.
- Includes both the real estate and business assets.
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
$82,085
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
5.47%
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%
$1,641,700
$1.6M
Cap Rate 7%
$1,172,643
$1.2M
Cap Rate 9%
$912,056
$912.1K
Market Conditions
NOI Build-Up for 4,500 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
$117.2K $26.04/SF
− Vacancy
−$7.7K −$1.72/SF
EGI
$109.4K $24.32/SF
− OpEx
−$27.4K −$6.08/SF
NOI
$82.1K $18.24/SF
Area
Lancaster County, PA
Vacancy
6.60%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,641,700
Cap Rate 7%
$1,172,643
Cap Rate 9%
$912,056
Alternative Uses
Best Use
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,085 @ 7.0% cap · market cap 5.47%
Second Best
Retail
$756.5K
$662.0K – $882.6K
NOI $52,958 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,558 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5,047
Businesses Nearby
81k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 51%
Shops & Services 32%
Groceries 9%
Dining 4%
Lancaster Marriott
Hotels & Casinos
40,779 visits/mo
0.5 miles
Sunoco
Shops & Services
8,706 visits/mo
0.4 miles
Turkey Hill Minit Market
Shops & Services
7,599 visits/mo
0.4 miles
Bravo Supermarkets
Groceries
6,864 visits/mo
0.5 miles
PNC Bank
Shops & Services
2,904 visits/mo
0.4 miles
Demographics for 17603, PA
66,739
Population
28,142
Households
2.4
Avg Household Size
37
Median Age
37%
College-Educated
90%
High-School Grad
30.0 sq mi
ZIP Area
2,225
Density / Sq Mi
$77,156
Median Household Income
$40,043
Median Earnings
$1,265
Median Rent
$244,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- This Little Piggy — 33 N Market St, Lancaster, PA 17603
- Commonwealth Kitchen — 213 W Chestnut St, Lancaster, PA 17603
- Pierre DeRagon Personal Chef Services — 213 E Chestnut St, Lancaster, PA 17602
- Jerry's American Catering Co. — 347 N Plum St, Lancaster, PA 17602
- Twisted Spoon — 221 E Frederick St, Lancaster, PA 17602
Frequently Asked Questions
What type of property is this?
Restaurant - Renovated restaurant/retail property with business assets in downtown Lancaster.
Where is this restaurant located?
The property is located at 30 W LEMON Street Lancaster, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Turnkey +/- 4,500 SF restaurant or retail property in Downtown Lancaster.; Fully renovated in 2023 with over $850,000 in improvements, including extensive structural upgrades.; Includes both the real estate and business assets.
