Three-Story Mixed-Use Commercial
For Sale
$525,000
247 Baltimore Street, Gettysburg, PA 17325
Flexible three-story layout supports professional, office, retail, or mixed-use operations with parking available in rear and front.
Property Size3,752 SF
Days on Market82
Property Features for 247 Baltimore Street
General Information
Standard status
Active
Size
3,752 SF
Class
B
Property subtype
Office/Retail
Building Details
Building Size
3,752 SF
Year Built
1880
Stories
3
Listing Agency:
NAI CIR | Lemoyne
(717) 395-1804
Listed By:
Amber Corbo
(717) 395-1804
Source:
Circommercial
Added: Jun 2
Changed: Aug 14
Last Checked: Aug 21 at 5:48AM
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 NAI CIR | Lemoyne
Investment Insights
Based on property information with market context.
This three-story commercial building offers a flexible layout designed to support a range of professional, office, retail, or mixed-use users. Each floor includes a combination of private offices, restrooms, meeting areas, conference space, and storage, giving tenants and investors practical space planning options. The multi-level configuration can work for single-tenant occupancy or potential multi-tenant use, creating flexibility for different business models.
Located on Baltimore Street, the property benefits from strong visibility and convenient parking options. A paved rear lot provides accessible parking, and there is also front street parking available for visitors and employees. Surrounding uses include professional businesses, historical sites, and local shops, supporting a mix of day-to-day activity.
For owner-users, the room-ready floor plan and dedicated spaces for meetings and conferences can help accommodate a professional services or similar office-based operation. For investors, the versatility of the layout may allow for either consolidated use or a multi-tenant approach, with multiple functional areas on each level that can support different types of tenants.
Located on Baltimore Street, the property benefits from strong visibility and convenient parking options. A paved rear lot provides accessible parking, and there is also front street parking available for visitors and employees. Surrounding uses include professional businesses, historical sites, and local shops, supporting a mix of day-to-day activity.
For owner-users, the room-ready floor plan and dedicated spaces for meetings and conferences can help accommodate a professional services or similar office-based operation. For investors, the versatility of the layout may allow for either consolidated use or a multi-tenant approach, with multiple functional areas on each level that can support different types of tenants.
Key Highlights
- Three‑story commercial building built in 1880 with a flexible layout for office, retail, or mixed‑use users
- Each floor includes a combination of private offices, restrooms, meeting/conference space, and storage
- Floorplan supports single‑tenant occupancy or potential multi‑tenant use
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
$40,522
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
7.72%
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%
$810,440
$810.4K
Cap Rate 7%
$578,886
$578.9K
Cap Rate 9%
$450,244
$450.2K
Market Conditions
NOI Build-Up for 3,752 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
$67.5K $18.00/SF
− Vacancy
−$13.5K −$3.60/SF
EGI
$54.0K $14.40/SF
− OpEx
−$13.5K −$3.60/SF
NOI
$40.5K $10.80/SF
Area
Adams County, PA
Vacancy
20.00%
Lease Rate
$18.00 /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%
$810,440
Cap Rate 7%
$578,886
Cap Rate 9%
$450,244
Alternative Uses
Best Use
Office B
$578.9K
$506.5K – $675.4K
NOI $40,522 @ 7.0% cap · market cap 7.72%
Second Best
Retail
$537.5K
$470.3K – $627.1K
NOI $37,623 @ 7.0% cap · market cap 7.17%
Theoretical Best
Specialty Retail
$691.0K
$604.7K – $806.2K
NOI $48,373 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,701
Businesses Nearby
Explore this area
Business Placement
Demographics for 17325, PA
27,879
Population
12,021
Households
2.3
Avg Household Size
45
Median Age
34%
College-Educated
92%
High-School Grad
126.0 sq mi
ZIP Area
221
Density / Sq Mi
$79,351
Median Household Income
$32,633
Median Earnings
$956
Median Rent
$278,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible three-story layout supports professional, office, retail, or mixed-use operations with parking available in rear and front.
Where is this office building located?
The property is located at 247 Baltimore Street Gettysburg, PA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three‑story commercial building built in 1880 with a flexible layout for office, retail, or mixed‑use users; Each floor includes a combination of private offices, restrooms, meeting/conference space, and storage; Floorplan supports single‑tenant occupancy or potential multi‑tenant use
