Mixed-Use Two-Unit
For Sale
$625,000
107 W State St, Kennett Square, PA 19348
Two-unit property with ground-floor retail/office and leased two-bedroom apartment above.
Property Size2,793 SF
Price / SF$223.77
Days on Market93
Property Features for 107 W State St
General Information
Standard status
Active
Size
2,793 SF
Additional Details
Multifamily Units
1
Building Details
Year Built
1900
Stories
2
Listing Agency:
RE/MAX Ace Realty
Listed By:
Renzo Naimo · License #RM424734
(610) 401-7575
Source:
Kandorre
Added: Jul 20
Changed: Oct 11
Last Checked: Oct 7 at 2:28PM
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 RE/MAX Ace Realty
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Investment Insights
Based on property information with market context.
This two-unit mixed-use property offers a versatile first-floor space that can serve as retail or a professional office (buyers should confirm acceptable uses with the Borough of Kennett Square). The commercial area features tall ceilings, hardwood flooring, and an updated bathroom with a storage closet located to the back.
Located at 107 W State St in downtown Kennett Square, the building sits on the borough’s main thoroughfare.
The second floor is a residential apartment with two bedrooms, a bonus room, and one bathroom. It is currently leased, and the existing tenants have indicated they would like to remain.
Located at 107 W State St in downtown Kennett Square, the building sits on the borough’s main thoroughfare.
The second floor is a residential apartment with two bedrooms, a bonus room, and one bathroom. It is currently leased, and the existing tenants have indicated they would like to remain.
Key Highlights
- Two‑unit mixed‑use property in downtown Kennett Square with ground‑floor retail/professional office and a second‑floor apartment
- Second‑floor apartment features 2 bedrooms + bonus room and 1 bath, currently leased with tenants who want to stay
- Ground‑floor commercial space includes tall ceilings and hardwood flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,911
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$878,220
$878.2K
Cap Rate 7%
$627,300
$627.3K
Cap Rate 9%
$487,900
$487.9K
Market Conditions
NOI Build-Up for 2,793 SF
Gross rent
$72.7K $26.04/SF
− Vacancy
−$14.2K −$5.08/SF
EGI
$58.5K $20.96/SF
− OpEx
−$14.6K −$5.24/SF
NOI
$43.9K $15.72/SF
Area
Chester County, PA
Vacancy
19.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$878,220
Cap Rate 7%
$627,300
Cap Rate 9%
$487,900
Alternative Uses
Best Use
Office B
$627.3K
$548.9K – $731.9K
NOI $43,911 @ 7.0% cap · market cap 7.03%
Second Best
Mixed Use
$611.5K
$535.1K – $713.4K
NOI $42,805 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$846.8K
$741.0K – $988.0K
NOI $59,277 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 19348, PA
22,606
Population
9,222
Households
2.5
Avg Household Size
43
Median Age
57%
College-Educated
91%
High-School Grad
36.8 sq mi
ZIP Area
614
Density / Sq Mi
$118,367
Median Household Income
$55,391
Median Earnings
$1,588
Median Rent
$518,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-unit property with ground-floor retail/office and leased two-bedroom apartment above.
Where is this mixed-use property located?
The property is located at 107 W State St Kennett Square, PA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two‑unit mixed‑use property in downtown Kennett Square with ground‑floor retail/professional office and a second‑floor apartment; Second‑floor apartment features 2 bedrooms + bonus room and 1 bath, currently leased with tenants who want to stay; Ground‑floor commercial space includes tall ceilings and hardwood flooring
