Turnkey Restaurant and Bar with
551 W King Street Lancaster Lancaster, PA 17603
551 W King Street Lancaster, Lancaster, PA, 17603
$1,900,000
For Sale
$1,900,000
Recently renovated restaurant and bar with a strong tap selection, plus an included residential apartment and liquor license.
Property Size8,044 SF
Price / SF$236.20
Days on Market23
Property Features for 551 W King Street Lancaster
General Information
- Standard status
- Active
- Size
- 8,044 SF
Building Details
- Year Built
- 1900
Listing agency
(866) 825-7169
Listed by
Lara Rhoades
(866) 825-7169
Source
Va.exprealty
Added: Jun 30 Updated: Jul 21 at 10:23PM Checked: Jul 22 at 2:08AM
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 Lara Rhoades
Investment Insights
Based on property information with market context.
Turnkey opportunity to acquire a well-known restaurant and bar that is currently operating. The space has been recently renovated and remodeled and features a New American menu and a strong bar program with 24 beers on tap. The sale also includes one residential apartment, an additional parking lot parcel at 619-621 Marietta Ave (Parcel ID 335-70501-0-0000), and an R liquor license.
Located on high-traffic West King Street in downtown Lancaster, the venue offers high visibility in a bustling urban setting.
The property is offered for sale as a going concern, so no inquiries should be made to management or staff.
Located on high-traffic West King Street in downtown Lancaster, the venue offers high visibility in a bustling urban setting.
The property is offered for sale as a going concern, so no inquiries should be made to management or staff.
Key Highlights
- Recently renovated restaurant and bar with 24 beers on tap and a New American menu
- Includes an R liquor license plus FF&E included in the sale
- Sale includes one residential apartment and an additional parking lot parcel at 619‑621 Marietta Ave (Parcel ID 335‑70501‑0‑0000)
Local Financial Insights For Specialty Retail
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 | $209.5k | $26.04 |
| − Vacancy | −$13.8k | −$1.72 |
| EGI | $195.6k | $24.32 |
| − OpEx | −$48.9k | −$6.08 |
| NOI | $146.7k | $18.24 |
8,044 SF · lease $26.04/SF/yr · vacancy 6.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.10M
$1.83M – $2.45M
NOI $146,731 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.70M
$2.36M – $3.14M
NOI $188,691 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
551 West
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Recently renovated restaurant and bar with a strong tap selection, plus an included residential apartment and liquor license.
Where is this conventional restaurant located?
The property is located at 551 W King Street Lancaster Lancaster, PA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Recently renovated restaurant and bar with 24 beers on tap and a New American menu; Includes an R liquor license plus FF&E included in the sale; Sale includes one residential apartment and an additional parking lot parcel at 619‑621 Marietta Ave (Parcel ID 335‑70501‑0‑0000)
