Mixed-Use Building with
New
For Sale
$1,695,000
131 E GRANT STREET, Lancaster, PA 17602
Commercial office suites and upper-floor apartments are offered with a secured parking lot at a separate address.
Property Size7,458 SF
Price / SF$227.27
Days on Market4
Property Features for 131 E GRANT STREET
General Information
Standard status
Active
Size
7,458 SF
Property subtype
Commercial
Building Details
Year Built
1890
Listing Agency:
High Associates Ltd.
(717) 293-4477
Listed By:
F. Jeffrey Kurtz · License #AB068667
(717) 293-4554
Source:
Cummingsrealtors
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 1 at 4:04AM
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 High Associates Ltd.
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Investment Insights
Based on property information with market context.
Built in 1890, the property combines commercial office space with four third-floor apartments. Interior details include exposed beams and brick, while the exterior retains a brick facade and a large arched entrance. The building was renovated into office suites in 1990.
The third-floor apartments were leased as of 1/1/27. The second floor has one office tenant under lease, and two of the three small first-floor office suites are leased. The offering also includes a secured parking lot at 141 E King St Rear, where 20 spaces are leased.
The third-floor apartments were leased as of 1/1/27. The second floor has one office tenant under lease, and two of the three small first-floor office suites are leased. The offering also includes a secured parking lot at 141 E King St Rear, where 20 spaces are leased.
Key Highlights
- Four third‑floor apartments leased as of 1/1/27
- Included secured parking lot at 141 E King St Rear with 20 leased spaces
- Two of three small first‑floor office suites leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,474
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,469,480
$2.5M
Cap Rate 7%
$1,763,914
$1.8M
Cap Rate 9%
$1,371,933
$1.4M
Market Conditions
NOI Build-Up for 7,458 SF
Gross rent
$191.5K $25.68/SF
− Vacancy
−$26.9K −$3.61/SF
EGI
$164.6K $22.07/SF
− OpEx
−$41.2K −$5.52/SF
NOI
$123.5K $16.56/SF
Area
Lancaster County, PA
Vacancy
14.04%
Lease Rate
$25.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,469,480
Cap Rate 7%
$1,763,914
Cap Rate 9%
$1,371,933
Alternative Uses
Best Use
Office B
$1.76M
$1.54M – $2.06M
NOI $123,474 @ 7.0% cap · market cap 7.28%
Second Best
Mixed Use
$1.32M
$1.16M – $1.54M
NOI $92,628 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $174,945 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
4,744
Businesses Nearby
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Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial office suites and upper-floor apartments are offered with a secured parking lot at a separate address.
Where is this mixed-use property located?
The property is located at 131 E GRANT STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Four third‑floor apartments leased as of 1/1/27; Included secured parking lot at 141 E King St Rear with 20 leased spaces; Two of three small first‑floor office suites leased
