Lancaster City Restaurant and
For Sale
Contact for pricing
1002 N Duke St, Lancaster, PA
Free-standing restaurant/bar with rental rooms and liquor license.
Property Size3,542 SF
Lot Size0.12 Acres
Price / SF$245.62
Days on Market475
Property Features for 1002 N Duke St
General Information
Standard status
Active
Size
3,542 SF
Lot size
0.12 Acres
Property subtype
RETAIL
Listing Agency:
U.S. Commercial Realty
(717) 735-6000
Listed By:
Daniel A. Berger, Jr.
Source:
Moodyscre
Added: Apr 22, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:25AM
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 U.S. Commercial Realty
Investment Insights
Based on property information with market context.
This is a free-standing restaurant and bar property that includes seven rental rooms. The sale encompasses a Hotel Liquor License, along with all furniture, fixtures, and equipment. The property is situated at a high-traffic intersection in the north end of Lancaster City. The building has a size of 3542 square feet.
Key Highlights
- Includes Hotel Liquor License
- Free‑standing restaurant/bar with rental rooms
- All furniture, fixtures, and equipment included in sale
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
$64,610
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
7.43%
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%
$1,292,200
$1.3M
Cap Rate 7%
$923,000
$923.0K
Cap Rate 9%
$717,889
$717.9K
Market Conditions
NOI Build-Up for 3,542 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
$92.2K $26.04/SF
− Vacancy
−$6.1K −$1.72/SF
EGI
$86.1K $24.32/SF
− OpEx
−$21.5K −$6.08/SF
NOI
$64.6K $18.24/SF
Area
Lancaster County, PA
Vacancy
6.60%
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%
$1,292,200
Cap Rate 7%
$923,000
Cap Rate 9%
$717,889
Alternative Uses
Best Use
Specialty Retail
$923.0K
$807.6K – $1.08M
NOI $64,610 @ 7.0% cap · market cap 7.43%
Second Best
Retail
$595.5K
$521.1K – $694.7K
NOI $41,684 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $83,086 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Lizard Lounge — 223 n water st, lancaster, pa 17603
- Square One Coffee Roasters — 145 N Duke St, Lancaster, PA 17602
- Queen Street Bistro — 201 N Queen St, Lancaster, PA 17603
- Shamrock Cafe — 312 W Walnut St, Lancaster, PA 17603
- Splits and Giggles Cafe — 500 W Lemon St, Lancaster, PA 17603
Frequently Asked Questions
What type of property is this?
Bar & Pub - Free-standing restaurant/bar with rental rooms and liquor license.
Where is this bar & pub located?
The property is located at 1002 N Duke St Lancaster, PA.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: Includes Hotel Liquor License; Free‑standing restaurant/bar with rental rooms; All furniture, fixtures, and equipment included in sale
