Three-Unit Mixed-Use
For Sale
$299,000
18 N WASHINGTON Street, Gettysburg, PA 17325
Multi-Family, GETTYSBURG, PA
Property Size2,497 SF
Lot Size0.03 Acres
Price / SF$119.74
Days on Market438
Property Features for 18 N WASHINGTON Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Subdivision
NONE AVAILABLE
Elementary school district
GETTYSBURG AREA
Middle school district
GETTYSBURG AREA
High school district
GETTYSBURG AREA
Standard status
Active
Size
2,497 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
3572
Utilities
Heating system
Forced Air
Building Details
Year built
1900
Number of units
3
Building materials
Brick
Architectural style
Other
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(410) 876-3500
Listed By:
Grace E. Cloutier · License #RSR004788
(443) 381-2585
Added: Jun 30, 2025
Changed: Aug 23
Last Checked: Sep 10 at 10:06AM
MLS# PAAD2018572
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.
Investment Insights
Based on property information with market context.
This 2,497-square-foot mixed-use building contains three occupied units: two apartments and a commercial hair salon positioned at the front. The residential configuration includes one one-bedroom, one-bath apartment and a two-bedroom, one-bath apartment. Brick construction, forced-air heating, and a 1900 build date define the existing improvements. The property occupies a 0.03-acre parcel with no lawn maintenance requirement.
Located in downtown Gettysburg between the Town Square and Gettysburg College, the building is near dining, shopping, and historic attractions. The property does not include an owned parking lot; tenants and salon customers currently use parallel parking or parking in and around the Town Square. Tenants are responsible for water, sewer, trash, electric, and gas.
Located in downtown Gettysburg between the Town Square and Gettysburg College, the building is near dining, shopping, and historic attractions. The property does not include an owned parking lot; tenants and salon customers currently use parallel parking or parking in and around the Town Square. Tenants are responsible for water, sewer, trash, electric, and gas.
Key Highlights
- Three occupied units: 2 residential apartments and 1 commercial hair salon
- 2,497 square feet on a 0.03‑acre parcel
- Downtown Gettysburg location between the Town Square and Gettysburg College
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
8.64%
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 8.64%
Second Best
Multifamily LT 5
$164.5K
$144.0K – $192.0K
NOI $11,518 @ 7.0% cap · market cap 3.85%
Theoretical Best
Specialty Retail
$459.9K
$402.4K – $536.6K
NOI $32,193 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
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
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property combining two apartments with a street-level hair salon.
Where is this mixed-use property located?
The property is located at 18 N WASHINGTON Street Gettysburg, PA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Three occupied units: 2 residential apartments and 1 commercial hair salon; 2,497 square feet on a 0.03‑acre parcel; Downtown Gettysburg location between the Town Square and Gettysburg College
