Office Building with Rear
For Sale
$2,400,000
743 S BROAD Street, Lititz, PA 17543
Commercial Sale, LITITZ, PA
Property Size9,200 SF
Lot Size0.96 Acres
Price / SF$260.87
Days on Market532
Property Features for 743 S BROAD Street
General Information
Property type
Other
Property subtype
Retail
Parking
50
Parking features
Parking Lot
Elementary school district
WARWICK
Middle school district
WARWICK
High school district
WARWICK
Standard status
Active
Lot size
0.96 Acres
Taxes and HOA fees
Tax Annual Amount
20156
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1957
Building materials
Block
Listing Agency:
Bennett Williams Realty, Inc.
(717) 843-5555
Listed By:
Jeffrey Christian Herr · License #RS339386
(717) 471-4153
Added: Mar 26, 2025
Changed: Sep 5
Last Checked: Sep 8 at 12:06PM
MLS# PALA2066368
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 9,200-square-foot office building occupies a .96-acre parcel and was built in 1957. The structure features block construction, central heating, central air conditioning, and a parking lot, with public utilities serving the property. Its existing configuration supports office use, while the source information also identifies retail use as a potential fit.
Located on South Broad Street along Route 501, the property records 23,000 VPD. A rear egress connects to a traffic signal on Route 501, providing an additional access point. Wells Fargo Bank is immediately adjacent, and nearby retail includes Weis Markets, AutoZone, Domino's Pizza, Dunkin Donuts, Burger King, and Taco Bell.
Located on South Broad Street along Route 501, the property records 23,000 VPD. A rear egress connects to a traffic signal on Route 501, providing an additional access point. Wells Fargo Bank is immediately adjacent, and nearby retail includes Weis Markets, AutoZone, Domino's Pizza, Dunkin Donuts, Burger King, and Taco Bell.
Key Highlights
- 9,200‑square‑foot office building on .96 acres
- Built in 1957 with block construction
- Central heating and central air conditioning
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
$152,314
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
6.35%
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%
$3,046,280
$3.0M
Cap Rate 7%
$2,175,914
$2.2M
Cap Rate 9%
$1,692,378
$1.7M
Market Conditions
NOI Build-Up for 9,200 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
$236.3K $25.68/SF
− Vacancy
−$33.2K −$3.61/SF
EGI
$203.1K $22.07/SF
− OpEx
−$50.8K −$5.52/SF
NOI
$152.3K $16.56/SF
Area
Lancaster County, PA
Vacancy
14.04%
Lease Rate
$25.68 /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%
$3,046,280
Cap Rate 7%
$2,175,914
Cap Rate 9%
$1,692,378
Alternative Uses
Best Use
Office B
$2.18M
$1.90M – $2.54M
NOI $152,314 @ 7.0% cap · market cap 6.35%
Second Best
Retail
$1.55M
$1.35M – $1.80M
NOI $108,269 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$3.08M
$2.70M – $3.60M
NOI $215,808 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
23,000 VPD
Traffic count
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Explore this area
Business Placement
Demographics for 17543, PA
45,320
Population
18,762
Households
2.4
Avg Household Size
45
Median Age
40%
College-Educated
93%
High-School Grad
66.0 sq mi
ZIP Area
687
Density / Sq Mi
$94,609
Median Household Income
$53,146
Median Earnings
$1,347
Median Rent
$321,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Block construction with central heating, central air conditioning, and a dedicated parking lot.
Where is this office building located?
The property is located at 743 S BROAD Street Lititz, PA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 9,200‑square‑foot office building on .96 acres; Built in 1957 with block construction; Central heating and central air conditioning
