Corner Retail
For Sale
$749,900
171 E King St, Lancaster, PA 17602
For sale storefront property on the northwest corner of N. Lime and E. King Streets in Lancaster County.
Property Size5,511 SF
Price / SF$136.07
Days on Market105
Property Features for 171 E King St
General Information
Standard status
Active
Size
5,511 SF
Zoning
CB
Taxes and HOA fees
Annual Taxes
$14,647
Amenities
Central Air
Forced Air, Central
Elevator
City
On Street
Building Details
Building Size
5,511 SF
Year Built
1910
Stories
4
Listing Agency:
Iron Valley Real Estate of Lancaster
Listed By:
Jennifer B Rule · License #RS319741
(717) 808-0143
Source:
Evrealestate
Added: May 23
Changed: Aug 8
Last Checked: Sep 4 at 4:46AM
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 Iron Valley Real Estate of Lancaster
Investment Insights
Based on property information with market context.
This corner storefront property offers a commercial retail space configuration suitable for a wide range of storefront uses. The building is listed for sale at 171 E King St in Lancaster, PA 17602, with a total property size of 5,511 square feet.
The property is positioned on the northwest corner of N. Lime and E. King Streets. Directions are given as traveling east on King Street to the corner.
If you’re looking for a retail storefront location on a corner in Lancaster County, this property provides a straightforward street-facing setup at a dedicated address.
The property is positioned on the northwest corner of N. Lime and E. King Streets. Directions are given as traveling east on King Street to the corner.
If you’re looking for a retail storefront location on a corner in Lancaster County, this property provides a straightforward street-facing setup at a dedicated address.
Key Highlights
- For‑sale storefront property on the northwest corner of N. Lime St. and E. King St. in Lancaster County
- Built in 1910
- Central air conditioning and forced‑air heating
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
$64,856
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
8.65%
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%
$1,297,120
$1.3M
Cap Rate 7%
$926,514
$926.5K
Cap Rate 9%
$720,622
$720.6K
Market Conditions
NOI Build-Up for 5,511 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
$99.2K $18.00/SF
− Vacancy
−$6.5K −$1.19/SF
EGI
$92.7K $16.81/SF
− OpEx
−$27.8K −$5.04/SF
NOI
$64.9K $11.77/SF
Area
Lancaster County, PA
Vacancy
6.60%
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%
$1,297,120
Cap Rate 7%
$926,514
Cap Rate 9%
$720,622
Alternative Uses
Best Use
Retail
$926.5K
$810.7K – $1.08M
NOI $64,856 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.15M
NOI $129,274 @ 7.0% cap · market cap 17.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,528
Businesses Nearby
119k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 34%
Shops & Services 28%
Groceries 19%
Dining 18%
Lancaster Marriott
Hotels & Casinos
40,779 visits/mo
0.3 miles
McDonald's
Dining
19,295 visits/mo
0.5 miles
C-Town Supermarkets
Groceries
9,025 visits/mo
0.3 miles
Sunoco
Shops & Services
8,706 visits/mo
0.4 miles
Turkey Hill Minit Market
Shops & Services
8,115 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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- Central Market Flowers At Market — 23 N Market St, Lancaster, PA 17603
Frequently Asked Questions
What type of property is this?
Storefront property - For sale storefront property on the northwest corner of N. Lime and E. King Streets in Lancaster County.
Where is this storefront property located?
The property is located at 171 E King St Lancaster, PA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: For‑sale storefront property on the northwest corner of N. Lime St. and E. King St. in Lancaster County; Built in 1910; Central air conditioning and forced‑air heating
