Five-Unit Apartment
For Sale
$699,900
1250 New Danville Pike, Lancaster, PA 17603
Occupied apartments with professional management and a separate five-unit storage shed on a 1.7-acre property.
Property Size3,637 SF
Lot Size1.70 Acres
Price / SF$192.44
Days on Market9
Property Features for 1250 New Danville Pike
General Information
Standard status
Active
Size
3,637 SF
Lot size
1.70 Acres
Property subtype
Residential Income
Occupancy
100%
Additional Details
Road Access
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$8,194
Listing Agency:
Hostetter Realty
(717) 786-6200
Listed By:
Tami J Shaub · License #RS203129L
(717) 529-0904
Source:
Exprealty
Added: Sep 8
Changed: Sep 13
Last Checked: Sep 15 at 2:16PM
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 Hostetter Realty
Investment Insights
Based on property information with market context.
This apartment property includes five units across 3,637 square feet, with each apartment occupied and professionally managed. The site also includes a separate five-unit storage shed, adding an additional income-producing component to the property.
The building sits on 1.7 acres along New Danville Pike in Lancaster, Pennsylvania, on a dead-end street just outside Lancaster City.
The building sits on 1.7 acres along New Danville Pike in Lancaster, Pennsylvania, on a dead-end street just outside Lancaster City.
Key Highlights
- Five‑unit apartment building
- 3,637 square feet on 1.7 acres
- All five apartments are occupied
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
$35,826
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
5.12%
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%
$716,520
$716.5K
Cap Rate 7%
$511,800
$511.8K
Cap Rate 9%
$398,067
$398.1K
Market Conditions
NOI Build-Up for 3,637 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
$65.5K $18.00/SF
− Vacancy
−$327 −$0.09/SF
EGI
$65.1K $17.91/SF
− OpEx
−$29.3K −$8.06/SF
NOI
$35.8K $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%
$716,520
Cap Rate 7%
$511,800
Cap Rate 9%
$398,067
Alternative Uses
Best Use
Apartment 5plus
$511.8K
$447.8K – $597.1K
NOI $35,826 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,315 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
224
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Occupied apartments with professional management and a separate five-unit storage shed on a 1.7-acre property.
Where is this apartment building located?
The property is located at 1250 New Danville Pike Lancaster, PA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Five‑unit apartment building; 3,637 square feet on 1.7 acres; All five apartments are occupied
