Mixed-Use Building With Three
For Sale
Contact for pricing
128 E Gay Street, West Chester, PA 19380
Town Center - Retail Overlay mixed-use building with retail space, three apartment units, and on-site parking.
Property Size3,672 SF
Price / SF$367.65
Days on Market17
Property Features for 128 E Gay Street
General Information
Standard status
Active
Size
3,672 SF
Property subtype
Mixed Use
Zoning
Town Center - Retail Overlay District
Listing Agency:
Avison Young - Property Managment
(610) 999-5800
Listed By:
Tommy Ciccarone · License #PA RS324250
Source:
Crexi
Added: Jul 21
Changed: Jul 29
Last Checked: Aug 4 at 2:13PM
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 Avison Young - Property Managment
Investment Insights
Based on property information with market context.
128 E. Gay Street is a mixed-use investment in the heart of West Chester, featuring 3,672 square feet of retail space complemented by three residential apartment units. The mix supports day-to-day street-level storefront activity while providing multiple residential units on site.
The property is located within the Town Center - Retail Overlay District and is positioned in a walkable downtown setting. On-site parking is included, supporting tenant and visitor access in a central retail corridor with convenient proximity to shops, restaurants, and amenities.
This configuration offers a practical layout for buyers seeking a combined retail-and-residential use in a defined downtown overlay district, with both commercial visibility and on-site residential income.
The property is located within the Town Center - Retail Overlay District and is positioned in a walkable downtown setting. On-site parking is included, supporting tenant and visitor access in a central retail corridor with convenient proximity to shops, restaurants, and amenities.
This configuration offers a practical layout for buyers seeking a combined retail-and-residential use in a defined downtown overlay district, with both commercial visibility and on-site residential income.
Key Highlights
- 3,672 square feet of retail space
- Three residential apartment units
- Located in the Town Center - Retail Overlay District
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.3k | $28.68 |
| − Vacancy | −$15.3k | −$4.16 |
| EGI | $90.0k | $24.52 |
| − OpEx | −$33.8k | −$9.20 |
| NOI | $56.3k | $15.33 |
3,672 SF · lease $28.68/SF/yr · vacancy 14.50% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$804.0K
$703.5K – $938.0K
NOI $56,277 @ 7.0% cap · market cap 4.17%
Second Best
Multifamily LT 5
$602.8K
$527.5K – $703.3K
NOI $42,196 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$1.11M
$974.2K – $1.30M
NOI $77,932 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,988
Businesses Nearby
Explore this area
Business Placement
Demographics for 19380, PA
50,692
Population
21,490
Households
2.4
Avg Household Size
43
Median Age
64%
College-Educated
97%
High-School Grad
30.5 sq mi
ZIP Area
1,662
Density / Sq Mi
$122,876
Median Household Income
$69,599
Median Earnings
$1,820
Median Rent
$530,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Town Center - Retail Overlay mixed-use building with retail space, three apartment units, and on-site parking.
Where is this mixed-use property located?
The property is located at 128 E Gay Street West Chester, PA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 3,672 square feet of retail space; Three residential apartment units; Located in the Town Center - Retail Overlay District
