Mixed-Use Property with Separate
For Sale
$559,900
112 W CHESTNUT STREET, Lancaster, PA 17603
First-floor retail and office space pairs with a two-bedroom apartment above.
Property Size1,864 SF
Price / SF$300.38
Days on Market96
Property Features for 112 W CHESTNUT STREET
General Information
Standard status
Active
Size
1,864 SF
Property subtype
Commercial
Building Details
Year Built
1860
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Realty ONE Group Unlimited
(717) 569-1700
Listed By:
Lisa Freund Cooley · License #RS217693L
(717) 413-2647
Source:
Cummingsrealtors
Added: Jul 28
Changed: Oct 29
Last Checked: Oct 30 at 3:29PM
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 Realty ONE Group Unlimited
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Investment Insights
Based on property information with market context.
This 1,864-square-foot mixed-use property includes retail and office space on the first floor, along with a two-bedroom apartment spanning the second and third floors. The retail/office component and apartment have separate entrances, allowing the two units to be leased separately. The building was constructed in 1860.
Located at 112 W Chestnut Street in Lancaster, the property is in the city’s Central Business and Art Districts, across from the PA College of Art & Design and around the corner from Gallery Row. The site is within walking distance of downtown Lancaster and offers access to the N. Water Street parking garage.
Located at 112 W Chestnut Street in Lancaster, the property is in the city’s Central Business and Art Districts, across from the PA College of Art & Design and around the corner from Gallery Row. The site is within walking distance of downtown Lancaster and offers access to the N. Water Street parking garage.
Key Highlights
- 1,864‑square‑foot mixed‑use property at 112 W Chestnut Street
- First‑floor retail/office space
- Two‑bedroom apartment across the second and third floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,860
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$617,200
$617.2K
Cap Rate 7%
$440,857
$440.9K
Cap Rate 9%
$342,889
$342.9K
Market Conditions
NOI Build-Up for 1,864 SF
Gross rent
$47.9K $25.68/SF
− Vacancy
−$6.7K −$3.61/SF
EGI
$41.1K $22.07/SF
− OpEx
−$10.3K −$5.52/SF
NOI
$30.9K $16.56/SF
Area
Lancaster County, PA
Vacancy
14.04%
Lease Rate
$25.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$617,200
Cap Rate 7%
$440,857
Cap Rate 9%
$342,889
Alternative Uses
Best Use
Office B
$440.9K
$385.8K – $514.3K
NOI $30,860 @ 7.0% cap · market cap 5.51%
Second Best
Mixed Use
$330.7K
$289.4K – $385.9K
NOI $23,151 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$624.6K
$546.6K – $728.8K
NOI $43,725 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,830
Businesses Nearby
Explore this area
Business Placement
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
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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 - First-floor retail and office space pairs with a two-bedroom apartment above.
Where is this mixed-use property located?
The property is located at 112 W CHESTNUT STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $559,900.
What are key features of this property?
This property features: 1,864‑square‑foot mixed‑use property at 112 W Chestnut Street; First‑floor retail/office space; Two‑bedroom apartment across the second and third floors
