Mixed-Use Storefront with
For Sale
$424,900
137 W Lancaster Avenue, Downingtown, PA 19335
Street-level storefront with a 1-bedroom, 2-bath apartment, plus parking and nearby transit access.
Property Size3,000 SF
Price / SF$141.63
Days on Market1510
Property Features for 137 W Lancaster Avenue
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
R60 MIX
Additional Details
Cap Rate
6.8%
Taxes and HOA fees
Annual Taxes
$3,485
Amenities
Dirt Floor
Natural Gas
Yes
No
Estimated
No Pool
Rear Yard,Road Frontage
Public
R60
0.00 x 0.00
0.13
Assessor
Driveway
Private,Secure Parking
Awning(s)
Block,Other
34300.00
8
Building Details
Building Size
3,000 SF
Year Built
1950
Listing Agency:
Coldwell Banker Realty
(856) 222-0077
Listed By:
Ryan LeBon · License #1540241
Source:
Thetristaterealestategroup
Added: Jul 7, 2022
Changed: Aug 24
Last Checked: Aug 24 at 3:10AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This mixed-use property includes a street-level storefront and an attached 1-bedroom apartment. The storefront has 1 full bathroom (with a shower), and the apartment includes 2 bathrooms. The former third unit space has been left unfinished, and the 3rd floor is noted as a space that could be finished again for an additional bedroom, returning the layout toward a former 3-unit configuration.
The building is located at 137 W Lancaster Avenue on the main street of Downingtown. Public remarks indicate it is about 1 block from the Downingtown Train Station and about a half block from a SEPTA bus stop, supporting convenient public transit access. The property also includes 8 parking spots for the lot.
For buyers seeking a combined live/work setup or an investment property with both commercial and residential space, the current configuration provides an operating storefront alongside apartment income potential. Public remarks also reference a potential cap rate of 6.8%. The owner is relocating and the business is not included, which may appeal to tenants or owners looking to take over the storefront for their own operations.
The building is located at 137 W Lancaster Avenue on the main street of Downingtown. Public remarks indicate it is about 1 block from the Downingtown Train Station and about a half block from a SEPTA bus stop, supporting convenient public transit access. The property also includes 8 parking spots for the lot.
For buyers seeking a combined live/work setup or an investment property with both commercial and residential space, the current configuration provides an operating storefront alongside apartment income potential. Public remarks also reference a potential cap rate of 6.8%. The owner is relocating and the business is not included, which may appeal to tenants or owners looking to take over the storefront for their own operations.
Key Highlights
- Street‑level storefront plus a 1‑bedroom apartment with 2 bathrooms
- Former 3‑unit layout; includes a potential to finish the 3rd floor again for an additional bedroom
- 8 off‑street parking spots on‑site with private, secure parking
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
$33,907
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
7.98%
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%
$678,140
$678.1K
Cap Rate 7%
$484,386
$484.4K
Cap Rate 9%
$376,744
$376.7K
Market Conditions
NOI Build-Up for 3,000 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
$54.0K $18.00/SF
− Vacancy
−$5.6K −$1.85/SF
EGI
$48.4K $16.15/SF
− OpEx
−$14.5K −$4.84/SF
NOI
$33.9K $11.30/SF
Area
Chester County, PA
Vacancy
10.30%
Lease Rate
$18.00 /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%
$678,140
Cap Rate 7%
$484,386
Cap Rate 9%
$376,744
Alternative Uses
Best Use
Retail
$484.4K
$423.8K – $565.1K
NOI $33,907 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$464.7K
$406.6K – $542.2K
NOI $32,530 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$909.6K
$795.9K – $1.06M
NOI $63,670 @ 7.0% cap · market cap 14.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
947
Businesses Nearby
80k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 63%
Dining 30%
Home Improvements & Furnishings 7%
Wawa
Shops & Services
39,933 visits/mo
0.4 miles
McDonald's
Dining
22,208 visits/mo
0.2 miles
Turkey Hill Minit Market
Shops & Services
6,019 visits/mo
0.4 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
5,792 visits/mo
0.2 miles
Truist
Shops & Services
3,493 visits/mo
0.3 miles
Demographics for 19335, PA
52,406
Population
20,276
Households
2.6
Avg Household Size
40
Median Age
62%
College-Educated
98%
High-School Grad
43.3 sq mi
ZIP Area
1,210
Density / Sq Mi
$136,839
Median Household Income
$69,850
Median Earnings
$1,647
Median Rent
$464,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- The Bud-N-Bloom Boutique — bud-n-bloom@outlook.com, 6 Wallace Ave, Downingtown, PA 19335
Frequently Asked Questions
What type of property is this?
Storefront property - Street-level storefront with a 1-bedroom, 2-bath apartment, plus parking and nearby transit access.
Where is this storefront property located?
The property is located at 137 W Lancaster Avenue Downingtown, PA.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Street‑level storefront plus a 1‑bedroom apartment with 2 bathrooms; Former 3‑unit layout; includes a potential to finish the 3rd floor again for an additional bedroom; 8 off‑street parking spots on‑site with private, secure parking
