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    Historic Gettysburg Mixed-Use Building Title is generated by Realmo AI

    504 BALTIMORE Street, Gettysburg, PA 17325

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    For Sale
    $450,000

    MULTI_FAMILY - Colonial - GETTYSBURG, PA

    Property size:
    2,968 SF
    Lot size:
    0.24 Acres
    Price / SF:
    $151/SF
    Added:
    Jul 20, 2024
    Days on Market:
    688
    Last Refresh:
    Jun 7 at 7:06 am

    Property Features for 504 BALTIMORE Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking
    5
    Parking features
    Parking Lot
    Interior features
    2nd Kitchen, Attic, Additional Stairway, Bathroom - Stall Shower, Bathroom - Tub Shower, Carpet, Floor Plan - Traditional
    Appliances
    Built-In Range, Refrigerator
    Standard status
    Active
    Size
    2,968 SF
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4908

    Utilities

    Heating system
    Electric (Heating), Baseboard, Other (Heating)
    Cooling system
    Central Air, Window Unit(s)

    Building Details

    Year built
    1900
    Number of units
    3
    Building materials
    Vinyl Siding
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Alycia N Hays
    Alycia N Hays

    Listing agent Alycia N Hays License #RS293391

    Listing office RE/MAX of Gettysburg 302 York Street, Gettysburg, PA

    Listing date Jul 20, 2024

    MLS# PAAD2014010 Listing URL

    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.

    HighLights

    • Prime location in the heart of Historic Downtown Gettysburg Tourist District.
    • Income‑generating property with three rental units already leased.
    • Low‑maintenance exterior with new (2021) 35‑year architectural shingles and vinyl siding.
    • Private paved parking lot with 5 spaces and a dedicated red light for easy access.
    • Storefront features a 1450 sq ft space with display case, check‑out counter, full bath, and Victorian display windows.
    • Separately metered electric for each unit.

    Overview

    Located in the heart of the Historic Downtown Gettysburg Tourist District, this landmark building offers a 1450 square foot storefront, currently rented on a two-year lease. The storefront includes a glass display case, check-out counter, full bath, natural gas, central air, Victorian bump-out display windows, and updated flooring. The second story features two apartments. Unit #2 has two bedrooms, a full bath, living room, dining area, and kitchen with appliances, and is currently on a month-to-month lease. Unit #3 is a one-bedroom efficiency with a full bath and kitchen appliances, currently rented on a one-year lease. The building has a rear storage room, a full basement, and separately metered electric. Recent updates include new (2021) 35-year architectural shingles and vinyl siding. The property includes a large lot with a rear yard and a private paved parking lot with five spaces. The driveway entrance features its own red light for easy ingress/egress. The property size is 2968 square feet and the lot size is 0.24 acres.

    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 $53.4k $18.00
    − Vacancy −$4.3k −$1.44
    EGI $49.2k $16.56
    − OpEx −$18.4k −$6.21
    NOI $30.7k $10.35
    2,968 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 37.50%

    Alternative Uses

    Best Use
    Mixed Use
    $438.8K
    $384.0K – $512.0K (±1% cap)
    NOI $30,719 @ 7.0% cap · market cap 6.83%
    Second Best
    Retail
    $425.2K
    $372.0K – $496.0K (±1% cap)
    NOI $29,762 @ 7.0% cap · market cap 6.61%
    Theoretical Best
    Specialty Retail
    $546.6K
    $478.3K – $637.8K (±1% cap)
    NOI $38,265 @ 7.0% cap · market cap 8.50%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    LeeBell's Mercantile (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Gettysburg
    County
    Adams
    State
    Pennsylvania
    Longitude
    -77.23079
    Latitude
    39.8242

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in Gettysburg's Historic Downtown Tourist District.
    Where is this mixed-use property located?
    The property is located at 504 BALTIMORE Street Gettysburg, PA.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Prime location in the heart of Historic Downtown Gettysburg Tourist District.; Income‑generating property with three rental units already leased.; Low‑maintenance exterior with new (2021) 35‑year architectural shingles and vinyl siding.
    (717) 752-5697
    We can help!
    Listing Contact
    Alycia N Hays
    Alycia N Hays
    Real Estate License ID: RS293391
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    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
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