Established Garage/Auto Service
For Sale
Contact for pricing
2024 N George St, York, PA 17404
Highly visible garage/auto service station on a corner lot.
Property Size1,836 SF
Lot Size0.64 Acres
Price / SF$424.29
Days on Market1520
Property Features for 2024 N George St
General Information
Standard status
Active
Size
1,836 SF
Total Parking Spaces
25
Lot size
0.64 Acres
Property subtype
Retail
Zoning
Commercial
Listing Agency:
Bennett Williams Commercial Lancaster
(717) 843-5555
Listed By:
Tom Troccoli · License #PA RS167691L
Source:
Crexi
Added: Jul 1, 2022
Changed: Aug 17
Last Checked: Aug 25 at 10:57AM
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 Commercial Lancaster
Investment Insights
Based on property information with market context.
This well-established garage and auto service station is situated in a highly visible area. The property features a free-standing, single building on a corner lot, encompassing 0.64 acres. It offers convenient access to Route 83 and Route 30. Currently operating as a garage and service station, the property's permitted uses include a car wash, dry cleaner, food and beverage establishment, professional office space, restaurant, home supply store, convenience store, salon, and more. The property includes 1,836 square feet of retail/office space with one bay garage, along with a detached 2 bay garage spanning 768 square feet. The lot size is 27,996 square feet, featuring level, paved parking. Total yearly taxes are $4,584.
Key Highlights
- Highly visible corner lot location on 0.64 acres.
- Versatile permitted uses including car wash, restaurant, retail, and office space.
- Easy access to Route 83 and Route 30.
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
$21,908
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
2.81%
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%
$438,160
$438.2K
Cap Rate 7%
$312,971
$313.0K
Cap Rate 9%
$243,422
$243.4K
Market Conditions
NOI Build-Up for 1,836 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
$33.0K $18.00/SF
− Vacancy
−$1.8K −$0.95/SF
EGI
$31.3K $17.05/SF
− OpEx
−$9.4K −$5.11/SF
NOI
$21.9K $11.93/SF
Area
York County, PA
Vacancy
5.30%
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%
$438,160
Cap Rate 7%
$312,971
Cap Rate 9%
$243,422
Alternative Uses
Best Use
Retail
$313.0K
$273.9K – $365.1K
NOI $21,908 @ 7.0% cap · market cap 2.81%
Second Best
Industrial
$153.0K
$133.9K – $178.6K
NOI $10,713 @ 7.0% cap · market cap 1.38%
Theoretical Best
Office A
$531.6K
$465.1K – $620.2K
NOI $37,211 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
153k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 22%
Groceries 14%
Hotels & Casinos 7%
Rutters
Shops & Services
28,756 visits/mo
0.3 miles
PetSmart
Shops & Services
23,687 visits/mo
0.5 miles
Rutters
Shops & Services
19,888 visits/mo
0.5 miles
Grocery Outlet Bargain Market
Groceries
14,653 visits/mo
0.4 miles
Wendy's
Dining
11,736 visits/mo
0.4 miles
Demographics for 17404, PA
37,745
Population
15,716
Households
2.4
Avg Household Size
38
Median Age
30%
College-Educated
89%
High-School Grad
21.5 sq mi
ZIP Area
1,756
Density / Sq Mi
$75,882
Median Household Income
$43,408
Median Earnings
$1,136
Median Rent
$176,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- North York Auto Menders — 1309 N George St, York, PA 17404
- Jiffy Lube Oil Change & Multicare — 705 Loucks Rd, York, PA 17404
- Pep Boys — 470 Loucks Rd, York, PA 17404
- Autocare Service Center — 450 Loucks Rd, York, PA 17404
- Jim's Auto Repair — 108 E 11th Ave, York, PA 17404
Frequently Asked Questions
What type of property is this?
Auto shop - Highly visible garage/auto service station on a corner lot.
Where is this auto shop located?
The property is located at 2024 N George St York, PA.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Highly visible corner lot location on 0.64 acres.; Versatile permitted uses including car wash, restaurant, retail, and office space.; Easy access to Route 83 and Route 30.
