Four-Unit Mixed-Use
For Sale
$374,900
203 Park Pl, York, PA 17401
Fully occupied property combines a townhouse, commercial space, two apartments, and shared coin-operated laundry.
Property Size3,400 SF
Price / SF$110.26
Days on Market24
Property Features for 203 Park Pl
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Gross Income
$45,000
Taxes and HOA fees
Annual Taxes
$4,685
Amenities
coin operated laundry
Building Details
Tenancy
Multi
Listing Agency:
Prime Home Real Estate, LLC
(717) 405-5748
Listed By:
Jeffrey L Zimmerman · License #AB069598
(717) 405-5748
Source:
Exprealty
Added: Jul 20
Changed: Aug 9
Last Checked: Aug 11 at 1:06PM
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 Prime Home Real Estate, LLC
Investment Insights
Based on property information with market context.
This 3,400-square-foot mixed-use property contains four occupied units across two Park Pl addresses. The offering includes a townhouse at 203 Park Pl with three bedrooms and 1.5 bathrooms, along with a second building at 205 Park Pl that combines a first-floor commercial unit with two second-floor apartments.
Recent renovations and professional management are in place. The 205 Park Pl building also provides coin-operated laundry for apartment residents. Located in York, Pennsylvania, the property brings together residential and commercial components within one income-producing asset.
Recent renovations and professional management are in place. The 205 Park Pl building also provides coin-operated laundry for apartment residents. Located in York, Pennsylvania, the property brings together residential and commercial components within one income-producing asset.
Key Highlights
- Four‑unit mixed‑use property totaling 3,400 square feet
- Fully occupied residential and commercial configuration
- 203 Park Pl townhouse with 3 bedrooms and 1.5 bathrooms
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
$33,737
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
9.00%
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%
$674,740
$674.7K
Cap Rate 7%
$481,957
$482.0K
Cap Rate 9%
$374,856
$374.9K
Market Conditions
NOI Build-Up for 3,400 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
$51.0K $15.00/SF
− Vacancy
−$2.8K −$0.83/SF
EGI
$48.2K $14.17/SF
− OpEx
−$14.5K −$4.25/SF
NOI
$33.7K $9.92/SF
Area
York County, PA
Vacancy
5.50%
Lease Rate
$15.00 /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%
$674,740
Cap Rate 7%
$481,957
Cap Rate 9%
$374,856
Alternative Uses
Best Use
Retail
$579.6K
$507.1K – $676.2K
NOI $40,569 @ 7.0% cap · market cap 10.82%
Second Best
Mixed Use
$502.7K
$439.9K – $586.5K
NOI $35,190 @ 7.0% cap · market cap 9.39%
Theoretical Best
Office A
$984.4K
$861.4K – $1.15M
NOI $68,909 @ 7.0% cap · market cap 18.38%
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
1,114
Businesses Nearby
Explore this area
Business Placement
Demographics for 17401, PA
18,771
Population
8,202
Households
2.3
Avg Household Size
32
Median Age
16%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
12,514
Density / Sq Mi
$41,569
Median Household Income
$30,329
Median Earnings
$940
Median Rent
$84,500
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?
Mixed-use property - Fully occupied property combines a townhouse, commercial space, two apartments, and shared coin-operated laundry.
Where is this mixed-use property located?
The property is located at 203 Park Pl York, PA.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Four‑unit mixed‑use property totaling 3,400 square feet; Fully occupied residential and commercial configuration; 203 Park Pl townhouse with 3 bedrooms and 1.5 bathrooms
