Versatile Industrial Property in
For Sale
$2,349,000
199 W Stiegel St, Manheim, PA 17545
24,537 SF industrial property on 1.81 acres for sale.
Property Size24,537 SF
Lot Size1.81 Acres
Price / SF$95.73
Days on Market195
Property Features for 199 W Stiegel St
General Information
Standard status
Active
Size
24,537 SF
Lot size
1.81 Acres
Listing Agency:
Bennett Williams Realty, Inc.
(717) 383-6647
Listed By:
Joshua Miller · License #RS365967
(717) 383-6647
Source:
Exprealty
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 8 at 6:03AM
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 Bennett Williams Realty, Inc.
Investment Insights
Based on property information with market context.
This industrial property features four buildings, including three industrial buildings and one two-story office building, totaling 24,537 square feet on a 1.81-acre site. The property includes 7 dock-high doors and 3 drive-in doors. The largest building offers approximately 14,000 square feet of warehouse space, providing flexibility for an owner to occupy a portion or all of the space for their business while leasing the remainder, or to lease the entire building as an income-producing investment. The two remaining industrial/auto garages are currently leased with flexible terms, allowing for conversion to NNN leases, rent increases, or the option for an owner to occupy the space for their own business use. The 2,472-square-foot office building is currently owner-occupied but will be vacated before settlement. Building 1 is a 14,000-square-foot industrial/warehouse. Building 2 is approximately 4,800 square feet and is also an industrial/warehouse. Building 3 is a 5,150-square-foot metal-panel industrial building, currently utilized as an automotive repair garage, and a 400-square-foot storage garage. Building 4 is a 2,472-square-foot, two-story office building. With level street-grade access, ample parking, and strong road frontage in Manheim, PA, this property is well-suited for a variety of auto, industrial, warehouse, or manufacturing uses. The combination of owner-occupied and income-generating tenant spaces makes it an attractive option for investors and business owners.
Key Highlights
- Versatile industrial property with four buildings totaling 24,537 square feet on 1.81 acres.
- Largest building (+/- 14,000 sq ft warehouse) offers flexibility for owner‑occupancy and/or leasing for income.
- Features 7 dock‑high doors and 3 drive‑in doors, enhancing logistical capabilities.
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
$165,939
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
7.06%
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%
$3,318,780
$3.3M
Cap Rate 7%
$2,370,557
$2.4M
Cap Rate 9%
$1,843,767
$1.8M
Market Conditions
NOI Build-Up for 24,537 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
$211.5K $8.62/SF
− Vacancy
−$16.3K −$0.66/SF
EGI
$195.2K $7.96/SF
− OpEx
−$29.3K −$1.19/SF
NOI
$165.9K $6.76/SF
Area
Lancaster County, PA
Vacancy
7.70%
Lease Rate
$8.62 /SF/Yr
Expense Ratio
15.00%
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%
$3,318,780
Cap Rate 7%
$2,370,557
Cap Rate 9%
$1,843,767
Alternative Uses
Best Use
Retail
$4.13M
$3.61M – $4.81M
NOI $288,761 @ 7.0% cap · market cap 12.29%
Second Best
Warehouse
$2.37M
$2.07M – $2.77M
NOI $165,939 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$8.22M
$7.19M – $9.59M
NOI $575,574 @ 7.0% cap · market cap 24.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17545, PA
22,718
Population
9,382
Households
2.4
Avg Household Size
42
Median Age
30%
College-Educated
90%
High-School Grad
69.8 sq mi
ZIP Area
325
Density / Sq Mi
$87,589
Median Household Income
$47,755
Median Earnings
$1,325
Median Rent
$271,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 24,537 SF industrial property on 1.81 acres for sale.
Where is this flex space located?
The property is located at 199 W Stiegel St Manheim, PA.
What is the asking price?
The asking price for this property is $2,349,000.
What are key features of this property?
This property features: Versatile industrial property with four buildings totaling 24,537 square feet on 1.81 acres.; Largest building (+/- 14,000 sq ft warehouse) offers flexibility for owner‑occupancy and/or leasing for income.; Features **7 dock‑high doors and 3 drive‑in doors**, enhancing logistical capabilities.
