Two-Unit Mixed-Use
15 N LIME Street, Lancaster, PA 17602
For Sale
$595,000
Multi-Family, LANCASTER, PA
Property Size2,641 SF
Lot Size0.06 Acres
Price / SF$225.29
Days on Market96
Property Features for 15 N LIME Street
General Information
Property type
Property subtype
Rooms
Parking
Parking features
Subdivision
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Number of units
Building materials
Architectural style
Listing Agency:
Lusk & Associates Sotheby's International Realty
(717) 291-9101
Listed By:
Anne M Lusk · License #RS210178L
(717) 271-9339
Added: Aug 4
Changed: Sep 29
Last Checked: Nov 7 at 1:06AM
MLS# PALA2093106
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.
The 2,641-square-foot property combines ground-floor commercial space with a second-floor apartment. The commercial area has two half bathrooms and is ready for tenant or owner customization. Upstairs, the apartment includes two bedrooms, two full bathrooms, and a living area. Masonry and brick construction dates to 1870; the building has forced-air heat and window-unit cooling.
The 0.06-acre property is in downtown Lancaster, near Central Market, the Fulton Theatre, the Ware Center, and the courthouse. Restaurants, coffee shops, bakeries, shopping, and entertainment are also within walking distance. A driveway provides off-street parking for up to four vehicles.
The 0.06-acre property is in downtown Lancaster, near Central Market, the Fulton Theatre, the Ware Center, and the courthouse. Restaurants, coffee shops, bakeries, shopping, and entertainment are also within walking distance. A driveway provides off-street parking for up to four vehicles.
Key Highlights
- 2,641‑square‑foot mixed‑use property on a 0.06‑acre lot
- Ground‑floor commercial space includes two half bathrooms
- Upstairs apartment has two bedrooms and two full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,801
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$656,020
$656.0K
Cap Rate 7%
$468,586
$468.6K
Cap Rate 9%
$364,456
$364.5K
Market Conditions
NOI Build-Up for 2,641 SF
Gross rent
$57.0K $21.60/SF
− Vacancy
−$4.6K −$1.73/SF
EGI
$52.5K $19.87/SF
− OpEx
−$19.7K −$7.45/SF
NOI
$32.8K $12.42/SF
Area
Lancaster County, PA
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$656,020
Cap Rate 7%
$468,586
Cap Rate 9%
$364,456
Alternative Uses
Best Use
Mixed Use
$468.6K
$410.0K – $546.7K
NOI $32,801 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$885.0K
$774.4K – $1.03M
NOI $61,951 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,528
Businesses Nearby
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Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Lancaster, PA
Properties on Market for Mixed-use properties in Lancaster
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-floor commercial suite pairs with a two-bedroom apartment above, offering distinct commercial and residential components.
Where is this mixed-use property located?
The property is located at 15 N LIME Street Lancaster, PA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2,641‑square‑foot mixed‑use property on a 0.06‑acre lot; Ground‑floor commercial space includes two half bathrooms; Upstairs apartment has two bedrooms and two full bathrooms
