3-Unit Mixed-Use
For Sale
$359,900
632 Main St, Lykens, PA 17048
Renovated building combines storefront space with two upper-level apartments.
Property Size2,781 SF
Price / SF$129.41
Days on Market23
Property Features for 632 Main St
General Information
Standard status
Active
Size
2,781 SF
Units
Unit Mix
1 x 3BR/1BA (2-level apartment), 1 x 3BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1860
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Elite
(717) 203-5528
Listed By:
Andrew Bartlett · License #RS337521
Source:
Kandorre
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 23 at 7:58AM
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 Keller Williams Elite
Investment Insights
Based on property information with market context.
This 3-unit mixed-use property includes a commercial storefront with a full bathroom and kitchenette, plus two upper residential units. One apartment spans two levels and contains 3 bedrooms, 1 full bath, and in-unit laundry. The other offers 3 bedrooms and 1.5 baths, with private entrances serving the apartments.
Recent improvements include new electrical and plumbing systems, a metal roof, insulated siding, and updated kitchens and bathrooms throughout. An extra lot next door is included with the property. Built in 1860, the building is located at 632 Main St in Lykens, PA 17048.
Recent improvements include new electrical and plumbing systems, a metal roof, insulated siding, and updated kitchens and bathrooms throughout. An extra lot next door is included with the property. Built in 1860, the building is located at 632 Main St in Lykens, PA 17048.
Key Highlights
- 3‑unit mixed‑use property with commercial space and two apartments
- Storefront includes a full bathroom and kitchenette
- Two‑level apartment features 3 bedrooms, 1 full bath, and in‑unit laundry
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
$27,886
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
7.75%
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%
$557,720
$557.7K
Cap Rate 7%
$398,371
$398.4K
Cap Rate 9%
$309,844
$309.8K
Market Conditions
NOI Build-Up for 2,781 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
$41.7K $15.00/SF
− Vacancy
−$1.9K −$0.68/SF
EGI
$39.8K $14.33/SF
− OpEx
−$12.0K −$4.30/SF
NOI
$27.9K $10.03/SF
Area
Dauphin County, PA
Vacancy
4.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$557,720
Cap Rate 7%
$398,371
Cap Rate 9%
$309,844
Alternative Uses
Best Use
Mixed Use
$482.7K
$422.4K – $563.2K
NOI $33,789 @ 7.0% cap · market cap 9.39%
Second Best
Retail
$398.4K
$348.6K – $464.8K
NOI $27,886 @ 7.0% cap · market cap 7.75%
Theoretical Best
Specialty Retail
$5.12M
$4.48M – $5.98M
NOI $358,540 @ 7.0% cap · market cap 99.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 17048, PA
4,006
Population
1,771
Households
2.3
Avg Household Size
41
Median Age
13%
College-Educated
86%
High-School Grad
33.7 sq mi
ZIP Area
119
Density / Sq Mi
$72,873
Median Household Income
$45,496
Median Earnings
$809
Median Rent
$136,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated building combines storefront space with two upper-level apartments.
Where is this mixed-use property located?
The property is located at 632 Main St Lykens, PA.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 3‑unit mixed‑use property with commercial space and two apartments; Storefront includes a full bathroom and kitchenette; Two‑level apartment features 3 bedrooms, 1 full bath, and in‑unit laundry
