Mixed-Use Property with
New
For Sale
$219,900
18-20 S MARKET ST, Mechanicsburg, PA 17055
Two commercial spaces and two upstairs apartments create a flexible mixed-use configuration.
Property Size2,184 SF
Price / SF$100.69
Days on Market3
Property Features for 18-20 S MARKET ST
General Information
Standard status
Active
Size
2,184 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 1BR/1.5BA, 1 x 1BR
Multifamily Units
2
Listing Agency:
Iron Valley Real Estate of York County
(717) 316-8777
Listed By:
John P P Wiga · License #AB066147
(717) 577-0938
Source:
Keygroupmd
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 10 at 2:48PM
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 York County
Investment Insights
Based on property information with market context.
This 2,184-square-foot mixed-use property combines street-level commercial space with residential units above. The first floor contains two separate commercial spaces, each with its own entrance, and both are currently rented to the same user.
The second floor includes two apartments with private access. One apartment has one bedroom, 1.5 bathrooms, and additional space that may serve as a second bedroom, office, or craft room. The other is a smaller one-bedroom apartment entered from the rear parking lot. The property is located in downtown Mechanicsburg at 18-20 S Market St.
The second floor includes two apartments with private access. One apartment has one bedroom, 1.5 bathrooms, and additional space that may serve as a second bedroom, office, or craft room. The other is a smaller one-bedroom apartment entered from the rear parking lot. The property is located in downtown Mechanicsburg at 18-20 S Market St.
Key Highlights
- 2,184‑square‑foot mixed‑use property
- Two first‑floor commercial spaces with separate entrances
- Both commercial spaces are currently rented to the same user
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
$18,447
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
8.39%
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%
$368,940
$368.9K
Cap Rate 7%
$263,529
$263.5K
Cap Rate 9%
$204,967
$205.0K
Market Conditions
NOI Build-Up for 2,184 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
$35.6K $16.32/SF
− Vacancy
−$2.1K −$0.96/SF
EGI
$33.5K $15.36/SF
− OpEx
−$15.1K −$6.91/SF
NOI
$18.4K $8.45/SF
Area
Cumberland County, PA
Vacancy
5.90%
Lease Rate
$16.32 /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%
$368,940
Cap Rate 7%
$263,529
Cap Rate 9%
$204,967
Alternative Uses
Best Use
Retail
$300.3K
$262.8K – $350.4K
NOI $21,024 @ 7.0% cap · market cap 9.56%
Second Best
Mixed Use
$292.2K
$255.7K – $340.9K
NOI $20,455 @ 7.0% cap · market cap 9.30%
Theoretical Best
Office A
$507.3K
$443.9K – $591.9K
NOI $35,513 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
807
Businesses Nearby
Explore this area
Business Placement
Demographics for 17055, PA
40,353
Population
18,994
Households
2.1
Avg Household Size
42
Median Age
47%
College-Educated
97%
High-School Grad
39.2 sq mi
ZIP Area
1,029
Density / Sq Mi
$95,542
Median Household Income
$55,923
Median Earnings
$1,320
Median Rent
$266,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial spaces and two upstairs apartments create a flexible mixed-use configuration.
Where is this mixed-use property located?
The property is located at 18-20 S MARKET ST Mechanicsburg, PA.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 2,184‑square‑foot mixed‑use property; Two first‑floor commercial spaces with separate entrances; Both commercial spaces are currently rented to the same user
