8-Unit Apartment
New
For Sale
$1,050,000
1338 Chambersburg Road, Gettysburg, PA 17325
Updated apartments, separate metering, on-site laundry, and dedicated parking support a practical multifamily configuration.
Property Size16,447 SF
Days on Market4
Property Features for 1338 Chambersburg Road
General Information
Standard status
Active
Size
16,447 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Multifamily Units
8
Parking per Unit
1
Amenities
laundry room
Building Details
Building Size
16,447 SF
Buildings
1
Listing Agency:
RE/MAX
Listed By:
Anita Morgan
Source:
Remaxcommercial
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 12:51PM
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 RE/MAX
Investment Insights
Based on property information with market context.
This 8-unit apartment property includes five recently updated residences, with five apartments offering ground-level access. Each unit is separately metered, and residents pay their own utilities. The property is served by a private well and public sewer, adding a clearly defined utility setup for the building.
Additional improvements include a separate laundry room equipped with coin-operated machines, along with garage and storage space. Every apartment has one assigned parking space, while additional parking is available at the rear. The property is located within the Gettysburg Area School District and near historic downtown Gettysburg, shopping, dining, and other area amenities.
Additional improvements include a separate laundry room equipped with coin-operated machines, along with garage and storage space. Every apartment has one assigned parking space, while additional parking is available at the rear. The property is located within the Gettysburg Area School District and near historic downtown Gettysburg, shopping, dining, and other area amenities.
Key Highlights
- 8‑unit apartment building with 5 recently updated units
- 5 apartments offer ground‑level entry
- Separately metered units; tenants pay their own utilities
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
$69,681
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
6.64%
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%
$1,393,620
$1.4M
Cap Rate 7%
$995,443
$995.4K
Cap Rate 9%
$774,233
$774.2K
Market Conditions
NOI Build-Up for 16,447 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
$134.2K $8.16/SF
− Vacancy
−$7.5K −$0.46/SF
EGI
$126.7K $7.70/SF
− OpEx
−$57.0K −$3.47/SF
NOI
$69.7K $4.24/SF
Area
Adams County, PA
Vacancy
5.60%
Lease Rate
$8.16 /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%
$1,393,620
Cap Rate 7%
$995,443
Cap Rate 9%
$774,233
Alternative Uses
Best Use
Apartment 5plus
$995.4K
$871.0K – $1.16M
NOI $69,681 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.03M
$2.65M – $3.53M
NOI $212,043 @ 7.0% cap · market cap 20.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 17325, PA
27,879
Population
12,021
Households
2.3
Avg Household Size
45
Median Age
34%
College-Educated
92%
High-School Grad
126.0 sq mi
ZIP Area
221
Density / Sq Mi
$79,351
Median Household Income
$32,633
Median Earnings
$956
Median Rent
$278,800
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 - Updated apartments, separate metering, on-site laundry, and dedicated parking support a practical multifamily configuration.
Where is this apartment building located?
The property is located at 1338 Chambersburg Road Gettysburg, PA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 8‑unit apartment building with 5 recently updated units; 5 apartments offer ground‑level entry; Separately metered units; tenants pay their own utilities
