Mixed-Use Building with
New
For Sale
$484,900
1313 N 2nd St, Harrisburg, PA 17102
Fully occupied property combines four residential apartments with a commercial restaurant space in Harrisburg.
Property Size4,560 SF
Price / SF$106.34
Days on Market2
Property Features for 1313 N 2nd St
General Information
Standard status
Active
Size
4,560 SF
Occupancy
100%
Net Operating Income
$46,353
Additional Details
Cap Rate
9.5%
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
Keller Williams of Central PA
(717) 673-6875
Listed By:
Jason Bytof · License #RS331808
Source:
Kandorre
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 2:27AM
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 of Central PA
Investment Insights
Based on property information with market context.
Located at 1313 N 2nd St in Harrisburg, PA, this 4,560-square-foot mixed-use building was constructed in 1930 and includes four residential apartments alongside a commercial restaurant space. All four residential units and the restaurant space are occupied.
The residential component includes two 1-bedroom/1-bath apartments, one 3-bedroom/1-bath apartment, and one studio. The property offers a combination of residential and restaurant tenancy within one building, with a 9.5% cap rate reported for the asset.
The residential component includes two 1-bedroom/1-bath apartments, one 3-bedroom/1-bath apartment, and one studio. The property offers a combination of residential and restaurant tenancy within one building, with a 9.5% cap rate reported for the asset.
Key Highlights
- 4,560 SF mixed‑use building at 1313 N 2nd St, Harrisburg, PA 17102
- Four fully occupied residential units plus one restaurant tenant
- Residential mix includes two 1‑bedroom/1‑bath units, one 3‑bedroom/1‑bath unit, and one studio
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
$40,702
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
8.39%
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%
$814,040
$814.0K
Cap Rate 7%
$581,457
$581.5K
Cap Rate 9%
$452,244
$452.2K
Market Conditions
NOI Build-Up for 4,560 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
$62.9K $13.80/SF
− Vacancy
−$4.8K −$1.05/SF
EGI
$58.1K $12.75/SF
− OpEx
−$17.4K −$3.83/SF
NOI
$40.7K $8.93/SF
Area
Dauphin County, PA
Vacancy
7.60%
Lease Rate
$13.80 /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%
$814,040
Cap Rate 7%
$581,457
Cap Rate 9%
$452,244
Alternative Uses
Best Use
Specialty Retail
$8.40M
$7.35M – $9.80M
NOI $587,898 @ 7.0% cap · market cap 121.24%
Second Best
Mixed Use
$791.5K
$692.6K – $923.4K
NOI $55,404 @ 7.0% cap · market cap 11.43%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,241
Businesses Nearby
Explore this area
Business Placement
Demographics for 17102, PA
7,989
Population
5,105
Households
1.6
Avg Household Size
37
Median Age
50%
College-Educated
91%
High-School Grad
0.8 sq mi
ZIP Area
9,986
Density / Sq Mi
$55,369
Median Household Income
$47,544
Median Earnings
$1,062
Median Rent
$172,900
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 - Fully occupied property combines four residential apartments with a commercial restaurant space in Harrisburg.
Where is this mixed-use property located?
The property is located at 1313 N 2nd St Harrisburg, PA.
What is the asking price?
The asking price for this property is $484,900.
What are key features of this property?
This property features: 4,560 SF mixed‑use building at 1313 N 2nd St, Harrisburg, PA 17102; Four fully occupied residential units plus one restaurant tenant; Residential mix includes two 1‑bedroom/1‑bath units, one 3‑bedroom/1‑bath unit, and one studio
