Mixed-Use Property with
For Sale
$424,900
137 W LANCASTER Avenue, Downingtown, PA 19335
Multi-Family, DOWNINGTOWN, PA
Property Size3,000 SF
Lot Size0.13 Acres
Price / SF$141.63
Days on Market1571
Property Features for 137 W LANCASTER Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
8
Parking features
Driveway
Elementary school district
DOWNINGTOWN AREA
Middle school district
DOWNINGTOWN AREA
High school district
DOWNINGTOWN AREA
Standard status
Active
Size
3,000 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
3485
Utilities
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1950
Number of units
2
Building materials
Frame, Stucco
Architectural style
Other
Listing Agency:
Springer Realty Group
(484) 498-4000
Listed By:
Peter B Gustis · License #RS295392
(610) 209-9219
Added: Jul 7, 2022
Changed: Oct 8
Last Checked: Oct 24 at 12:06AM
MLS# PACT2028520
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,000-square-foot mixed-use property combines a ground-floor storefront with a one-bedroom apartment on the second level. The storefront has a full bathroom with a shower, and the property has two bathrooms overall. The third floor was previously finished and could be finished again to create an additional bedroom. The building dates to 1950 and has frame and stucco construction, hot-water heat, and window-unit cooling.
The 0.1286-acre property is on W Lancaster Avenue in Downingtown, one block from the train station and half a block from a SEPTA bus stop. The driveway provides eight parking spaces. The business currently operating at the property is not included in the sale.
The 0.1286-acre property is on W Lancaster Avenue in Downingtown, one block from the train station and half a block from a SEPTA bus stop. The driveway provides eight parking spaces. The business currently operating at the property is not included in the sale.
Key Highlights
- 3,000‑square‑foot mixed‑use building with storefront and one‑bedroom apartment
- 0.1286‑acre lot with eight driveway parking spaces
- Third floor was previously finished and could be finished again for an additional bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,907
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
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
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 Rate 5%
$678,140
Cap Rate 7%
$484,386
Cap Rate 9%
$376,744
Alternative Uses
Best Use
Mixed Use
$656.8K
$574.7K – $766.3K
NOI $45,978 @ 7.0% cap · market cap 10.82%
Second Best
Retail
$484.4K
$423.8K – $565.1K
NOI $33,907 @ 7.0% cap · market cap 7.98%
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.
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
811
Businesses Nearby
51k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 96%
Dining 4%
Wawa
Shops & Services
39,933 visits/mo
0.5 miles
Turkey Hill Minit Market
Shops & Services
6,019 visits/mo
0.1 miles
Truist
Shops & Services
3,493 visits/mo
0.2 miles
PrimoHoagies
Dining
1,842 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
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A one-bedroom apartment sits above retail space, with driveway parking serving the property.
Where is this mixed-use 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: 3,000‑square‑foot mixed‑use building with storefront and one‑bedroom apartment; 0.1286‑acre lot with eight driveway parking spaces; Third floor was previously finished and could be finished again for an additional bedroom
