Triplex With Detached
For Sale
$349,999
102 N MAIN Street, Manheim, PA 17545
Multi-Family, MANHEIM, PA
Property Size2,314 SF
Lot Size0.05 Acres
Price / SF$151.25
Days on Market10
Property Features for 102 N MAIN Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
2
Parking features
On Street, Garage - Detached
Middle school
MANHEIM CENTRAL
High school
MANHEIM CENTRAL
Elementary school district
MANHEIM CENTRAL
Middle school district
MANHEIM CENTRAL
High school district
MANHEIM CENTRAL
Standard status
Active
Size
2,314 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4673
Utilities
Heating system
Other (Heating)
Building Details
Year built
1920
Number of units
3
Building materials
Stick Built
Architectural style
Other
Listing Agency:
Hostetter Realty LLC
(717) 354-6416
Listed By:
Alexander K Reedy · License #RS295533
(717) 538-3910
Added: Sep 8
Changed: Sep 16
Last Checked: Sep 17 at 3:06AM
MLS# PALA2094396
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 3-unit, stick-built property at 102 N Main Street in Manheim, PA, contains 2,314 square feet and was built in 1920. Two kitchens have been replaced, while replacement windows are installed throughout the building. Each unit is served by its own gas boiler, and the electric service is separately metered. A detached 2-car garage complements the residential improvements, with additional on-street parking available.
The property sits on a 0.05-acre lot in Lancaster County. Occupancy is full, and tenants pay water, sewer, and trash expenses. The configuration combines three residential units with independently arranged heating and electrical systems, supporting separate utility management across the building.
The property sits on a 0.05-acre lot in Lancaster County. Occupancy is full, and tenants pay water, sewer, and trash expenses. The configuration combines three residential units with independently arranged heating and electrical systems, supporting separate utility management across the building.
Key Highlights
- 3‑unit property with 2,314 square feet
- Fully occupied residential income property
- Two of the 3 kitchens have been replaced
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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Open Analytics
Current Use
Lease Details
3
Residential units
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
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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 income property with updated kitchens, replacement windows, and separate utility 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: 3‑unit property with 2,314 square feet; Fully occupied residential income property; Two of the 3 kitchens have been replaced
