Historic Building with Brew
For Sale
Contact for pricing
Pending
204 W Main St, Elkland, PA 16920
Renovated historic building with brew house and apartments.
Property Size3,456 SF
Days on Market464
Property Features for 204 W Main St
General Information
Standard status
Pending
Size
3,456 SF
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
1900
Listing Agency:
Cowanesque Lake Realty, LLC
(607) 368-1217
Listed By:
Sara Saxbury · License #RB069420
Source:
Crexi
Added: May 5, 2025
Changed: Aug 8
Last Checked: Jul 24 at 12:09PM
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 Cowanesque Lake Realty, LLC
Investment Insights
Based on property information with market context.
This historic building, originally constructed in the 1900s, is located in Elkland, PA. The property has been renovated and features a ground-floor brew house with a rustic atmosphere, equipped for daily operations and event hosting. The brew house offers a rotating selection of home-brewed beers and ciders, along with a curated wine selection. The upper level includes two fully renovated apartments: a one-bedroom and a two-bedroom unit, suitable for rental income or owner accommodations. The building was originally a soda fountain and later became the Penn Elk hotel & bar. The property size is 3456 square feet. This property is an investment opportunity for brewing hobbyists, investors, and entrepreneurs.
Key Highlights
- Fully operational brew house with established business and loyal customer base.
- Two fully renovated apartments providing rental income or owner occupancy.
- Prime historic building in the heart of Elkland, PA.
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
$28,395
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
7.57%
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%
$567,900
$567.9K
Cap Rate 7%
$405,643
$405.6K
Cap Rate 9%
$315,500
$315.5K
Market Conditions
NOI Build-Up for 3,456 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
$42.3K $12.24/SF
− Vacancy
−$4.4K −$1.29/SF
EGI
$37.9K $10.95/SF
− OpEx
−$9.5K −$2.74/SF
NOI
$28.4K $8.22/SF
Area
Tioga County, PA
Vacancy
10.50%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
25.00%
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%
$567,900
Cap Rate 7%
$405,643
Cap Rate 9%
$315,500
Alternative Uses
Best Use
Specialty Retail
$405.6K
$354.9K – $473.3K
NOI $28,395 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$311.2K
$272.3K – $363.1K
NOI $21,783 @ 7.0% cap · market cap 5.81%
Theoretical Best
Healthcare Medical
$588.7K
$515.1K – $686.8K
NOI $41,210 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 16920, PA
1,977
Population
880
Households
2.2
Avg Household Size
42
Median Age
16%
College-Educated
96%
High-School Grad
9.5 sq mi
ZIP Area
208
Density / Sq Mi
$63,977
Median Household Income
$49,375
Median Earnings
$864
Median Rent
$136,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Racks Brew House — 204 W Main St, Elkland, PA 16920
Frequently Asked Questions
What type of property is this?
Bar & Pub - Renovated historic building with brew house and apartments.
Where is this bar & pub located?
The property is located at 204 W Main St Elkland, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Fully operational brew house with established business and loyal customer base.; Two fully renovated apartments providing rental income or owner occupancy.; Prime historic building in the heart of Elkland, PA.
