Fully Occupied Mixed-Use
For Sale
$318,000
18 N WASHINGTON ST, Gettysburg, PA 17325
Three-unit building combines two apartments with a street-facing commercial salon space.
Property Size2,497 SF
Price / SF$127.35
Days on Market40
Property Features for 18 N WASHINGTON ST
General Information
Standard status
Active
Size
2,497 SF
Property subtype
Multi-Family
Occupancy
100%
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(443) 381-2585
Listed By:
Grace E. Cloutier · License #RSR004788
(443) 381-2585
Source:
Opal-realestate
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 28 at 1:03PM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
This 2,497-square-foot property contains three occupied units: two residential apartments and a commercial hair salon at the front with window frontage. One apartment has one bedroom and one bathroom, while the other offers two bedrooms and one bathroom. The mixed-use layout places residential units alongside a customer-facing commercial space, and the building has no lawn to maintain.
Located at 18 N Washington St in downtown Gettysburg, the property is positioned between the Gettysburg Town Square and Gettysburg College, with dining and shopping nearby. There is no privately owned parking lot; occupants and salon customers currently use parallel parking or spaces in or near the Town Square. Tenants are responsible for water, sewer, trash, electric, and gas.
Located at 18 N Washington St in downtown Gettysburg, the property is positioned between the Gettysburg Town Square and Gettysburg College, with dining and shopping nearby. There is no privately owned parking lot; occupants and salon customers currently use parallel parking or spaces in or near the Town Square. Tenants are responsible for water, sewer, trash, electric, and gas.
Key Highlights
- 2,497‑square‑foot mixed‑use triplex
- Three occupied units: 2 residential units and 1 commercial hair salon
- Front commercial unit features window frontage
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
$25,844
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
8.13%
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%
$516,880
$516.9K
Cap Rate 7%
$369,200
$369.2K
Cap Rate 9%
$287,156
$287.2K
Market Conditions
NOI Build-Up for 2,497 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
$44.9K $18.00/SF
− Vacancy
−$3.6K −$1.44/SF
EGI
$41.4K $16.56/SF
− OpEx
−$15.5K −$6.21/SF
NOI
$25.8K $10.35/SF
Area
Adams County, PA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$516,880
Cap Rate 7%
$369,200
Cap Rate 9%
$287,156
Alternative Uses
Best Use
Mixed Use
$369.2K
$323.1K – $430.7K
NOI $25,844 @ 7.0% cap · market cap 8.13%
Second Best
Retail
$357.7K
$313.0K – $417.3K
NOI $25,039 @ 7.0% cap · market cap 7.87%
Theoretical Best
Specialty Retail
$459.9K
$402.4K – $536.6K
NOI $32,193 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,583
Businesses Nearby
Explore this area
Business Placement
Demographics for 17325, PA
27,879
Population
12,021
Households
2.3
Avg Household Size
45
Median Age
34%
College-Educated
92%
High-School Grad
126.0 sq mi
ZIP Area
221
Density / Sq Mi
$79,351
Median Household Income
$32,633
Median Earnings
$956
Median Rent
$278,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit building combines two apartments with a street-facing commercial salon space.
Where is this triplex located?
The property is located at 18 N WASHINGTON ST Gettysburg, PA.
What is the asking price?
The asking price for this property is $318,000.
What are key features of this property?
This property features: 2,497‑square‑foot mixed‑use triplex; Three occupied units: 2 residential units and 1 commercial hair salon; Front commercial unit features window frontage
