Triplex with Detached
New
For Sale
$349,999
102 N Main Street, Manheim, PA 17545
Fully occupied three-unit property with updated kitchens, replacement windows, and separate heating and electric systems.
Property Size2,314 SF
Price / SF$151.25
Days on Market3
Property Features for 102 N Main Street
General Information
Standard status
Active
Size
2,314 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1920
Listing Agency:
Hostetter Realty LLC
Listed By:
Alexander Reedy · License #3234510
(717) 538-3910
Source:
Yorkhomes
Added: Sep 18
Last Checked: Sep 20 at 5:48AM
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 Hostetter Realty LLC
Investment Insights
Based on property information with market context.
This three-unit residential income property was built in 1920 and is fully occupied. Improvements include replacement windows throughout and updated kitchens in two of the three units. Each unit has a separate gas boiler for heating, while the electric systems are also separated. A detached two-car garage provides additional on-site utility.
Located at 102 N Main Street in Manheim, Pennsylvania, the property offers a multi-unit configuration with tenant-paid water, sewer, and trash service. The combination of separate building systems, recent kitchen replacements, and a detached garage supports straightforward operational management across the three units.
Located at 102 N Main Street in Manheim, Pennsylvania, the property offers a multi-unit configuration with tenant-paid water, sewer, and trash service. The combination of separate building systems, recent kitchen replacements, and a detached garage supports straightforward operational management across the three units.
Key Highlights
- Fully occupied three‑unit property
- Two of three kitchens have been replaced
- Replacement windows installed throughout
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
$25,847
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
7.38%
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%
$516,940
$516.9K
Cap Rate 7%
$369,243
$369.2K
Cap Rate 9%
$287,189
$287.2K
Market Conditions
NOI Build-Up for 2,314 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
$37.5K $16.20/SF
− Vacancy
−$562 −$0.24/SF
EGI
$36.9K $15.96/SF
− OpEx
−$11.1K −$4.79/SF
NOI
$25.8K $11.17/SF
Area
Lancaster County, PA
Vacancy
1.50%
Lease Rate
$16.20 /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%
$516,940
Cap Rate 7%
$369,243
Cap Rate 9%
$287,189
Alternative Uses
Best Use
Multifamily LT 5
$369.2K
$323.1K – $430.8K
NOI $25,847 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$325.6K
$284.9K – $379.9K
NOI $22,794 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$775.4K
$678.5K – $904.7K
NOI $54,280 @ 7.0% cap · market cap 15.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Explore this area
Business Placement
Demographics for 17545, PA
22,718
Population
9,382
Households
2.4
Avg Household Size
42
Median Age
30%
College-Educated
90%
High-School Grad
69.8 sq mi
ZIP Area
325
Density / Sq Mi
$87,589
Median Household Income
$47,755
Median Earnings
$1,325
Median Rent
$271,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied three-unit property with updated kitchens, replacement windows, and separate heating and electric systems.
Where is this triplex located?
The property is located at 102 N Main Street Manheim, PA.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: Fully occupied three‑unit property; Two of three kitchens have been replaced; Replacement windows installed throughout
