Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    503-505 MANOR Street Lancaster, PA 17603

    View on Map
    New
    For Sale
    $364,900

    MULTI_FAMILY - Other - LANCASTER, PA

    Property size:
    2,056 SF
    Lot size:
    0.06 Acres
    Added:
    Mar 27, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 503-505 MANOR Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking
    3
    Parking features
    Garage - Detached
    Standard status
    Active
    Size
    2,056 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    3781

    Utilities

    Heating system
    Baseboard, Electric (Heating)

    Building Details

    Year built
    1930
    Number of units
    3
    Building materials
    Brick, Masonry
    Architectural style
    Other

    We can help!

    Listing Contact
    Mitchell Hershey

    Listing agent Mitchell Hershey License #RS332040

    Listing office Keller Williams Elite 5139 Main Street, East Petersburg, PA

    Listing date Mar 27, 2026

    MLS# PALA2085226

    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.

    Overview

    Lancaster City Turn-Key Investment

    This Lancaster City property features three units: one 2-bedroom unit and two 1-bedroom units, along with three garage spaces. The property is fully leased with long-term tenants at market rates. Paint and flooring have been updated in recent years as units have turned over. The property is professionally managed, and the 7.5% cash-on-cash return includes the management fee. The property size is 2056 square feet and the lot size is 0.06 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.314461
    Latitude
    40.035824

    Nearby Similar for Sale

    • $330,000

      Established Lancaster Restaurant Business Opportunity

      Profitable international cuisine restaurant with loyal clientele for sale.
      798 NEW HOLLAND Avenue unit: F, LANCASTER, PA 17602
      View Details
    • $1,500,000

      Turnkey Restaurant/Retail Property in Lancaster

      Renovated restaurant/retail property with business assets in downtown Lancaster.
      30 W LEMON Street, LANCASTER, PA 17603
      View Details
    • $3,525,000

      Lancaster Brewery and Restaurant Opportunity

      Brewery and restaurant for sale in Lancaster County, Pennsylvania.
      209 HAZEL Street, LANCASTER, PA 17603
      View Details
    • $6,000,000

      Lancaster Office Investment Opportunity

      Stabilized office property leased until 2030 in Lancaster, PA.
      3020 COLUMBIA Avenue, LANCASTER, PA 17603
      View Details
    • $1,000,000

      Lancaster Commercial Property with Income

      Commercially zoned property with truck maintenance, storage, and parking.
      40 PITNEY Road, LANCASTER, PA 17602
      View Details
    • $449,900
      3,131 SF

      Lancaster City Multi-Unit Investment

      Two-unit building with separate utilities in prime Lancaster location.
      413 N QUEEN Street, LANCASTER, PA 17603
      View Details
    • $359,900
      1,742 SF

      Renovated Duplex in Lancaster City

      Turn-key investment opportunity near McCaskey campus and city amenities.
      312 N RESERVOIR Street, LANCASTER, PA 17602
      View Details
    • $151,000

      Lancaster Office Space For Sale

      Second-floor office space with private offices and conference room.
      2938-1 COLUMBIA AVENUE unit: 902, LANCASTER, PA 17603
      View Details
    • $450,000
      2,307 SF

      Lancaster Triplex: Investment Opportunity

      Fully rented triplex near Lancaster General Hospital with steady income.
      621 N LIME Street, LANCASTER, PA 17602
      View Details
    • $375,000
      1,596 SF

      Lancaster City Duplex Opportunity

      Income-producing duplex in vibrant Lancaster City neighborhood.
      464 S ANN Street, LANCASTER, PA 17602
      View Details
    • $320,000

      Established Turn-Key Business Opportunity

      Profitable gourmet food business in busy Lancaster market.
      23 MARKET, LANCASTER, PA 17603
      View Details
    • $1,895,000

      Historic Townhouse with Mixed-Use Potential

      Historic Lancaster townhouse with commercial space and residential living.
      121-123 E KING Street, LANCASTER, PA 17602
      View Details

    FAQs

    What type of property is this?
    Triplex - Fully leased Lancaster City triplex with 7.5% cash return.
    Where is this triplex located?
    The property is located at 503-505 MANOR Street Lancaster, PA.
    What is the asking price?
    The asking price for this property is $364,900.
    What are key features of this property?
    This property features: 7. 5% Cash‑on‑Cash Return (includes property management fees); Fully Leased with Long‑Term Tenants at Market Rates; Turn‑Key Rental Property
    (717) 799-0584
    We can help!
    Listing Contact
    Mitchell Hershey
    Real Estate License ID: RS332040
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!