Detached Mixed-Use
For Sale
$350,000
121 Laurel St, Lancaster, PA 17603
The converted dwelling has natural-gas hot water and a kitchen equipped with gas and electric appliances.
Property Size1,876 SF
Price / SF$186.57
Days on Market97
Property Features for 121 Laurel St
General Information
Standard status
Active
Size
1,876 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
R3
Net Operating Income
$25,908
Taxes and HOA fees
Annual Taxes
$4,590
Amenities
Hot Water, Natural Gas
Refrigerator, Gas Oven, Gas Range, Electric Water Heater
Detached
Converted Dwelling
Building Details
Building Size
1,876 SF
Year Built
1900
Listing Agency:
Keller Williams Elite
Listed By:
Matthew Joseph Koch · License #RS339842
(717) 788-8347
Source:
Evrealestate
Added: Jul 2
Changed: Sep 28
Last Checked: Oct 5 at 5:16PM
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 Keller Williams Elite
Investment Insights
Based on property information with market context.
This detached converted dwelling was built in 1900 and is zoned R3. Interior features include hot water and natural gas, along with a refrigerator, gas oven, gas range, and electric water heater.
The property is at 121 Laurel St in Lancaster, Pennsylvania, on the corner of Vine and Laurel streets.
The property is at 121 Laurel St in Lancaster, Pennsylvania, on the corner of Vine and Laurel streets.
Key Highlights
- Detached converted dwelling built in 1900
- R3 zoning
- Kitchen includes a refrigerator, gas oven, and gas range
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,300
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,000
$466.0K
Cap Rate 7%
$332,857
$332.9K
Cap Rate 9%
$258,889
$258.9K
Market Conditions
NOI Build-Up for 1,876 SF
Gross rent
$40.5K $21.60/SF
− Vacancy
−$3.2K −$1.73/SF
EGI
$37.3K $19.87/SF
− OpEx
−$14.0K −$7.45/SF
NOI
$23.3K $12.42/SF
Area
Lancaster County, PA
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,000
Cap Rate 7%
$332,857
Cap Rate 9%
$258,889
Alternative Uses
Best Use
Mixed Use
$332.9K
$291.3K – $388.3K
NOI $23,300 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$264.0K
$231.0K – $308.0K
NOI $18,480 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$628.7K
$550.1K – $733.4K
NOI $44,006 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,278
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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Frequently Asked Questions
What type of property is this?
Mixed-use property - The converted dwelling has natural-gas hot water and a kitchen equipped with gas and electric appliances.
Where is this mixed-use property located?
The property is located at 121 Laurel St Lancaster, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Detached converted dwelling built in 1900; R3 zoning; Kitchen includes a refrigerator, gas oven, and gas range
