Mixed-Use Property with
For Sale
$449,900
101 Pearl St, Lancaster, PA 17603
Two-level layout combines a convenience retail unit with a three-bedroom apartment.
Property Size2,178 SF
Price / SF$206.57
Days on Market110
Property Features for 101 Pearl St
General Information
Standard status
Active
Size
2,178 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,275
Listing Agency:
Iron Valley Real Estate of Lancaster
(717) 615-7484
Listed By:
Fanny C Castellanos · License #RS306983
(717) 615-7484
Source:
Exprealty
Added: May 14
Changed: Aug 29
Last Checked: Aug 30 at 10:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Iron Valley Real Estate of Lancaster
Investment Insights
Based on property information with market context.
This mixed-use building contains a street-facing convenience storefront on the ground level and a three-bedroom apartment upstairs. The property includes a full basement for storage, separate utilities serving the commercial and residential spaces, and off-street parking. With 2,178 square feet, the building offers distinct retail and residential components within one property.
The property is at 101 Pearl St in Lancaster, Pennsylvania, within the Cabbage Hill district and near downtown Lancaster. Its combination of commercial frontage, an upper-level apartment, basement storage, and dedicated parking creates a practical two-part layout for an owner or investor.
The property is at 101 Pearl St in Lancaster, Pennsylvania, within the Cabbage Hill district and near downtown Lancaster. Its combination of commercial frontage, an upper-level apartment, basement storage, and dedicated parking creates a practical two-part layout for an owner or investor.
Key Highlights
- Street‑level convenience storefront with a 3‑bedroom apartment above
- 2,178 SF mixed‑use building
- Separate utilities for the commercial and residential units
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
$27,051
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
6.01%
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%
$541,020
$541.0K
Cap Rate 7%
$386,443
$386.4K
Cap Rate 9%
$300,567
$300.6K
Market Conditions
NOI Build-Up for 2,178 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
$47.0K $21.60/SF
− Vacancy
−$3.8K −$1.73/SF
EGI
$43.3K $19.87/SF
− OpEx
−$16.2K −$7.45/SF
NOI
$27.1K $12.42/SF
Area
Lancaster County, PA
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$541,020
Cap Rate 7%
$386,443
Cap Rate 9%
$300,567
Alternative Uses
Best Use
Mixed Use
$386.4K
$338.1K – $450.9K
NOI $27,051 @ 7.0% cap · market cap 6.01%
Second Best
Retail
$366.2K
$320.4K – $427.2K
NOI $25,632 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$729.9K
$638.6K – $851.5K
NOI $51,090 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 29%
Sunoco
Shops & Services
6,554 visits/mo
0.2 miles
Turkey Hill Minit Market
Shops & Services
5,576 visits/mo
0.5 miles
Turkey Hill Minit Market
Shops & Services
5,351 visits/mo
0.1 miles
Krispy Krunchy Chicken
Dining
2,858 visits/mo
0.3 miles
Pizza Hut
Dining
2,646 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level layout combines a convenience retail unit with a three-bedroom apartment.
Where is this mixed-use property located?
The property is located at 101 Pearl St Lancaster, PA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Street‑level convenience storefront with a 3‑bedroom apartment above; 2,178 SF mixed‑use building; Separate utilities for the commercial and residential units
