Mixed-Use Investment Opportunity in
352 E NEW Street Lancaster, PA 17602
352 E NEW Street, Lancaster, PA, 17602
$675,000
For Sale
$675,000
MULTI_FAMILY - Other - LANCASTER, PA
Property Size4,392 SF
Lot Size0.07 Acres
Price / SF$153.69
Days on Market75
Property Features for 352 E NEW Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- On Street
- Interior features
- Kitchen - Eat-In, Wood Floors
- Appliances
- Oven/Range - Electric, Refrigerator
- Standard status
- Active
- Size
- 4,392 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Annual Amount
- 11507
Utilities
- Heating system
- Hot Water(Heating)
Building Details
- Year built
- 1900
- Number of units
- 4
- Building materials
- Brick
- Architectural style
- Other
Listing agency
Kingsway Realty - Lancaster
(717) 569-8701
Listed by
Ervin J Barkman · License #RS168511L
(717) 468-4424
Added: May 10 Updated: Jul 9 at 9:18AM Checked: Jul 23 at 6:06AM
MLS# PALA2087358
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 mixed-use property in Northeast Lancaster City presents an investment opportunity. The turnkey asset features 4 apartment units, an operating laundromat equipped with 14 commercial washers and dryers, and a fully equipped restaurant with stainless steel equipment. The laundromat also includes an ADA bathroom. The property has long-standing tenants. The building has a total size of 4392 square feet and is situated on a 0.07-acre lot. The property generates $42,000 annual net income.
Key Highlights
- Mixed‑use property featuring apartments, a laundromat, and a restaurant.
- Turnkey asset with strong income potential.
- Operating laundromat with 14 commercial washers and dryers and ADA bathroom.
Local Financial Insights For Mixed Use
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 | $94.9k | $21.60 |
| − Vacancy | −$7.6k | −$1.73 |
| EGI | $87.3k | $19.87 |
| − OpEx | −$32.7k | −$7.45 |
| NOI | $54.5k | $12.42 |
4,392 SF · lease $21.60/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Specialty Retail
$1.14M
$1.00M – $1.34M
NOI $80,115 @ 7.0% cap · market cap 11.87%
Second Best
Mixed Use
$779.3K
$681.9K – $909.2K
NOI $54,549 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,025 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
JD's Laundromat
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with apartments, laundromat, and restaurant in Lancaster.
Where is this mixed-use property located?
The property is located at 352 E NEW Street Lancaster, PA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Mixed‑use property featuring apartments, a laundromat, and a restaurant.; Turnkey asset with strong income potential.; Operating laundromat with **14 commercial washers and dryers** and ADA bathroom.
