Two-Unit Mixed-Use
For Sale
Under Contract
$625,000
107 W STATE Street, Kennett Square, PA 19348
MULTI_FAMILY - KENNETT SQUARE, PA
Property Size2,792 SF
Lot Size0.03 Acres
Price / SF$223.85
Days on Market155
Property Features for 107 W STATE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Family Room
Parking features
On Street
Interior features
Bathroom - Stall Shower, Family Room Off Kitchen, Kitchen - Eat-In
Appliances
Dryer, Refrigerator, Stove, Washer
Elementary school district
KENNETT CONSOLIDATED
Middle school district
KENNETT CONSOLIDATED
High school district
KENNETT CONSOLIDATED
Standard status
Active Under Contract
Size
2,792 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
4464
Utilities
Heating system
Radiant
Cooling system
Central Air, Window Unit(s)
Building Details
Year built
1900
Number of units
2
Building materials
Brick Front
Listing Agency:
RE/MAX Ace Realty · RE/MAX International
(484) 712-0009
Listed By:
Renzo Naimo · License #RM424734
(610) 401-7575
Added: Mar 10
Changed: Jul 23
Last Checked: Aug 11 at 12:06PM
MLS# PACT2119306
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.
Two-unit mixed-use building at 107 W State Street featuring a first-floor retail or professional office space and a second-floor residential apartment. The commercial space includes tall ceilings, hardwood flooring, and an updated bathroom with a storage closet to the back. The residential unit offers two bedrooms plus a bonus room and one bathroom, and it is currently leased with tenants who would like to stay. Buyers should confirm acceptable uses with the Borough of Kennett Square.
Located on the borough’s main thoroughfare in downtown Kennett Square, the property is positioned for visibility and access to the area’s walkable activity. The listing notes steady foot traffic associated with recurring community events and downtown gatherings.
Located on the borough’s main thoroughfare in downtown Kennett Square, the property is positioned for visibility and access to the area’s walkable activity. The listing notes steady foot traffic associated with recurring community events and downtown gatherings.
Key Highlights
- Two‑unit mixed‑use property in downtown Kennett Square with a first‑floor commercial space and a second‑floor apartment
- First‑floor space includes tall ceilings, hardwood flooring, and an updated bathroom with a storage closet
- Second‑floor apartment has 2 bedrooms plus a bonus room and 1 bathroom; currently leased with tenant desire to stay
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
$43,895
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
7.02%
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%
$877,900
$877.9K
Cap Rate 7%
$627,071
$627.1K
Cap Rate 9%
$487,722
$487.7K
Market Conditions
NOI Build-Up for 2,792 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
$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 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%
$877,900
Cap Rate 7%
$627,071
Cap Rate 9%
$487,722
Alternative Uses
Best Use
Office B
$627.1K
$548.7K – $731.6K
NOI $43,895 @ 7.0% cap · market cap 7.02%
Second Best
Multifamily LT 5
$458.3K
$401.0K – $534.7K
NOI $32,083 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$846.5K
$740.7K – $987.6K
NOI $59,255 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with first-floor retail or office space and a leased second-floor 2-bedroom apartment with bonus room.
Where is this duplex located?
The property is located at 107 W STATE Street 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 a first‑floor commercial space and a second‑floor apartment; First‑floor space includes tall ceilings, hardwood flooring, and an updated bathroom with a storage closet; Second‑floor apartment has 2 bedrooms plus a bonus room and 1 bathroom; currently leased with tenant desire to stay
