Updated 4-Unit
New
For Sale
$499,000
152 Walnut Street, Columbia, PA 17512
Residential income property with recent improvements and owner-paid water, sewer, and trash services.
Property Size4,436 SF
Price / SF$112.49
Days on Market2
Property Features for 152 Walnut Street
General Information
Standard status
Active
Size
4,436 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1840
Buildings
1
Listing Agency:
Keller Williams Elite
Listed By:
David Garpstas · License #3235183
(717) 208-0253
Source:
Yorkhomes
Added: Sep 12
Last Checked: Sep 12 at 2:17PM
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 Elite
Investment Insights
Based on property information with market context.
This four-unit residential property at 152 Walnut Street contains 4,436 square feet and dates to 1840. Several updates have been completed, and the owner currently covers water for Apartments 1 and 4, along with sewer and trash service. The configuration provides an established multifamily asset with a straightforward utility arrangement.
The property is located within Columbia’s Walnut Street revitalization area, near local shops, dining, and the Northwest River Trail. The new Hampton Inn is also nearby. The adjacent property at 150 Walnut Street is offered separately, creating an option to acquire both parcels.
The property is located within Columbia’s Walnut Street revitalization area, near local shops, dining, and the Northwest River Trail. The new Hampton Inn is also nearby. The adjacent property at 150 Walnut Street is offered separately, creating an option to acquire both parcels.
Key Highlights
- Four‑unit residential property with 4,436 square feet
- Built in 1840 with several completed updates
- Owner pays water for Apartments 1 and 4, plus sewer and trash
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
$43,697
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
8.76%
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%
$873,940
$873.9K
Cap Rate 7%
$624,243
$624.2K
Cap Rate 9%
$485,522
$485.5K
Market Conditions
NOI Build-Up for 4,436 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
$79.8K $18.00/SF
− Vacancy
−$399 −$0.09/SF
EGI
$79.4K $17.91/SF
− OpEx
−$35.8K −$8.06/SF
NOI
$43.7K $9.85/SF
Area
Lancaster County, PA
Vacancy
0.50%
Lease Rate
$18.00 /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%
$873,940
Cap Rate 7%
$624,243
Cap Rate 9%
$485,522
Alternative Uses
Best Use
Multifamily LT 5
$707.9K
$619.4K – $825.8K
NOI $49,550 @ 7.0% cap · market cap 9.93%
Second Best
Apartment 5plus
$624.2K
$546.2K – $728.3K
NOI $43,697 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,057 @ 7.0% cap · market cap 20.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
Explore this area
Business Placement
Demographics for 17512, PA
18,267
Population
8,255
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
86%
High-School Grad
16.0 sq mi
ZIP Area
1,142
Density / Sq Mi
$61,130
Median Household Income
$42,702
Median Earnings
$1,067
Median Rent
$221,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with recent improvements and owner-paid water, sewer, and trash services.
Where is this quadplex located?
The property is located at 152 Walnut Street Columbia, PA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Four‑unit residential property with 4,436 square feet; Built in 1840 with several completed updates; Owner pays water for Apartments 1 and 4, plus sewer and trash
