Apartment Building for Residential
For Sale
$2,200,000
162 E Market St, York, PA 17401
For sale apartment building configured for residential income use at 162 E Market St in York County.
Property Size18,000 SF
Price / SF$122.22
Days on Market50
Property Features for 162 E Market St
General Information
Standard status
Active
Size
18,000 SF
Building Details
Year Built
1927
Listing Agency:
Renaissance Realty Sales, LLC
Listed By:
Isaac Spearman
(717) 825-8466
Source:
Kandorre
Added: Jul 18
Changed: Aug 27
Last Checked: Sep 5 at 10:04AM
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 Renaissance Realty Sales, LLC
Investment Insights
Based on property information with market context.
Offered for sale, this apartment building is presented as a residential income property. The listing includes commercial real estate classifications alongside residential income and multifamily property types.
The property is located at 162 E Market St in York, Pennsylvania, within York County. Directions are noted as GPS.
Additional operational or physical details beyond the residential income classification were not provided in the listing information.
The property is located at 162 E Market St in York, Pennsylvania, within York County. Directions are noted as GPS.
Additional operational or physical details beyond the residential income classification were not provided in the listing information.
Key Highlights
- Apartment building for residential income use at 162 E Market St in York County
- Built in 1927
- Window unit cooling
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
$165,904
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
7.54%
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%
$3,318,080
$3.3M
Cap Rate 7%
$2,370,057
$2.4M
Cap Rate 9%
$1,843,378
$1.8M
Market Conditions
NOI Build-Up for 18,000 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
$317.5K $17.64/SF
− Vacancy
−$15.9K −$0.88/SF
EGI
$301.6K $16.76/SF
− OpEx
−$135.7K −$7.54/SF
NOI
$165.9K $9.22/SF
Area
York County, PA
Vacancy
5.00%
Lease Rate
$17.64 /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%
$3,318,080
Cap Rate 7%
$2,370,057
Cap Rate 9%
$1,843,378
Alternative Uses
Best Use
Apartment 5plus
$2.37M
$2.07M – $2.77M
NOI $165,904 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.21M
$4.56M – $6.08M
NOI $364,814 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 17401, PA
18,771
Population
8,202
Households
2.3
Avg Household Size
32
Median Age
16%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
12,514
Density / Sq Mi
$41,569
Median Household Income
$30,329
Median Earnings
$940
Median Rent
$84,500
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?
Apartment building - For sale apartment building configured for residential income use at 162 E Market St in York County.
Where is this apartment building located?
The property is located at 162 E Market St York, PA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Apartment building for residential income use at 162 E Market St in York County; Built in 1927; Window unit cooling
