Freestanding Flex Space with
For Sale
$549,000
858 MANOR Street, Lancaster, PA 17603
Commercial Sale, LANCASTER, PA
Property Size3,618 SF
Lot Size0.19 Acres
Price / SF$151.74
Days on Market91
Property Features for 858 MANOR Street
General Information
Property type
Other
Property subtype
Retail
Parking
8
Parking features
Parking Lot
Elementary school district
SCHOOL DISTRICT OF LANCASTER
Middle school district
SCHOOL DISTRICT OF LANCASTER
High school district
SCHOOL DISTRICT OF LANCASTER
Standard status
Active
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
8041
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1949
Building materials
Brick
Listing Agency:
Bennett Williams Realty, Inc.
(717) 843-5555
Listed By:
Joshua Miller · License #RS365967
(717) 383-6647
Added: Jun 10
Changed: Sep 5
Last Checked: Sep 8 at 9:06AM
MLS# PALA2088656
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 freestanding flex property contains 3,618 square feet arranged with a front showroom, warehouse and storage space, plus a side loading area. The building includes 1 dock door, 1 drive-in door, off-street parking, central air, and heat-pump heating. Built in 1949 with brick construction, the property is designated C-2 commercial zoning.
The building occupies the signalized intersection of Manor Street and Prospect Street in Western Lancaster City, next to Turkey Hill and near Manor Shopping Center. Combined traffic counts exceed 20,700 vehicles per day, with more than 30,000 residents within one mile and nearly 180,000 within five miles. Its storefront, loading access, and interior operational space accommodate a range of commercial configurations.
The building occupies the signalized intersection of Manor Street and Prospect Street in Western Lancaster City, next to Turkey Hill and near Manor Shopping Center. Combined traffic counts exceed 20,700 vehicles per day, with more than 30,000 residents within one mile and nearly 180,000 within five miles. Its storefront, loading access, and interior operational space accommodate a range of commercial configurations.
Key Highlights
- 3,618 SF freestanding flex property with showroom, warehouse, and storage areas
- 1 dock door and 1 drive‑in door provide separate loading access
- C‑2 commercial zoning
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
$42,578
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
7.76%
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%
$851,560
$851.6K
Cap Rate 7%
$608,257
$608.3K
Cap Rate 9%
$473,089
$473.1K
Market Conditions
NOI Build-Up for 3,618 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
$65.1K $18.00/SF
− Vacancy
−$4.3K −$1.19/SF
EGI
$60.8K $16.81/SF
− OpEx
−$18.2K −$5.04/SF
NOI
$42.6K $11.77/SF
Area
Lancaster County, PA
Vacancy
6.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$851,560
Cap Rate 7%
$608,257
Cap Rate 9%
$473,089
Alternative Uses
Best Use
Retail
$608.3K
$532.2K – $709.6K
NOI $42,578 @ 7.0% cap · market cap 7.76%
Second Best
Warehouse
$349.5K
$305.9K – $407.8K
NOI $24,468 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,869 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
20,700 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Brick construction combines a customer-facing showroom with warehouse and storage areas.
Where is this flex space located?
The property is located at 858 MANOR Street Lancaster, PA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 3,618 SF freestanding flex property with showroom, warehouse, and storage areas; 1 dock door and 1 drive‑in door provide separate loading access; C‑2 commercial zoning
