Traditional Residential Income
For Sale
$895,000
Pending
12-14 S Queen St, Lancaster, PA 17603
1915 property with ceiling fans, full bathrooms, and electric water heating near Lancaster’s Convention Center.
Property Size5,160 SF
Days on Market322
Property Features for 12-14 S Queen St
General Information
Standard status
Pending
Size
5,160 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$13,559
Amenities
Ceiling Fan(s)
Hot Water, Electric, Natural Gas
Full
Electric Water Heater
On Street
Traditional
Building Details
Building Size
5,160 SF
Year Built
1915
Stories
3
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 560-8496
Listed By:
Timothy K Shreiner · License #RS187003L
(717) 560-8496
Source:
Evrealestate
Added: Oct 14, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:57PM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
Built in 1915, this residential income property at 12-14 S Queen St offers a traditional exterior and interior features that include ceiling fans, full bathrooms, and electric water heating. Hot water service is identified as electric and natural gas.
The property is in Lancaster, Pennsylvania, across from the Convention Center. Access from PA-222 S leads toward Lancaster City and continues through N Duke St before reaching E Vine St and S Queen St. The asset is located in Lancaster County and carries the address 12-14 S Queen St, Lancaster, PA 17603.
The property is in Lancaster, Pennsylvania, across from the Convention Center. Access from PA-222 S leads toward Lancaster City and continues through N Duke St before reaching E Vine St and S Queen St. The asset is located in Lancaster County and carries the address 12-14 S Queen St, Lancaster, PA 17603.
Key Highlights
- 1915 construction date
- Traditional exterior design
- Full bathrooms
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
$50,829
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
5.68%
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%
$1,016,580
$1.0M
Cap Rate 7%
$726,129
$726.1K
Cap Rate 9%
$564,767
$564.8K
Market Conditions
NOI Build-Up for 5,160 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
$92.9K $18.00/SF
− Vacancy
−$464 −$0.09/SF
EGI
$92.4K $17.91/SF
− OpEx
−$41.6K −$8.06/SF
NOI
$50.8K $9.85/SF
Area
Lancaster County, PA
Vacancy
0.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,016,580
Cap Rate 7%
$726,129
Cap Rate 9%
$564,767
Alternative Uses
Best Use
Apartment 5plus
$726.1K
$635.4K – $847.2K
NOI $50,829 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,040 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,790
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - 1915 property with ceiling fans, full bathrooms, and electric water heating near Lancaster’s Convention Center.
Where is this residential income property located?
The property is located at 12-14 S Queen St Lancaster, PA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 1915 construction date; Traditional exterior design; Full bathrooms
