Renovated Mixed-Use
For Sale
$375,000
204 W Main Street, Elkland, PA 16920
The property combines an operating brew house with two renovated apartments.
Property Size3,144 SF
Days on Market199
Property Features for 204 W Main Street
General Information
Standard status
Active
Size
3,144 SF
Total Parking Spaces
6
Property subtype
Commercial
Zoning
Comm/Indu, Commercial
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$149,405
Building Details
Building Size
3,144 SF
Year Built
1901
Buildings
1
Stories
2
Listing Agency:
Cowanesque Lake Realty, LLC
(607) 368-1217
Listed By:
Sara Saxbury · License #RS363155
(607) 368-1217
Source:
Northstarwny
Added: Feb 13
Changed: Aug 30
Last Checked: Aug 30 at 4:11PM
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.
Constructed in 1901, this mixed-use building has been renovated while retaining historic character. The ground floor contains an operating brew house with beer, cider, and wine service, along with space used for regular business operations and events. The upper level adds two renovated apartments, including one 1-bedroom unit and one 2-bedroom unit.
The property is located at 204 W Main Street in Elkland, PA 16920 and carries Comm/Indu, Commercial zoning. Showings must be arranged outside normal business hours.
The property is located at 204 W Main Street in Elkland, PA 16920 and carries Comm/Indu, Commercial zoning. Showings must be arranged outside normal business hours.
Key Highlights
- 1901 construction with renovated historic building fabric
- Operating ground‑floor brew house with beer, cider, and wine service
- Two renovated upper‑level apartments: one 1‑bedroom and one 2‑bedroom
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
$31,833
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
8.49%
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%
$636,660
$636.7K
Cap Rate 7%
$454,757
$454.8K
Cap Rate 9%
$353,700
$353.7K
Market Conditions
NOI Build-Up for 3,144 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
$56.6K $18.00/SF
− Vacancy
−$5.7K −$1.80/SF
EGI
$50.9K $16.20/SF
− OpEx
−$19.1K −$6.07/SF
NOI
$31.8K $10.13/SF
Area
Tioga County, PA
Vacancy
10.00%
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%
$636,660
Cap Rate 7%
$454,757
Cap Rate 9%
$353,700
Alternative Uses
Best Use
Mixed Use
$454.8K
$397.9K – $530.6K
NOI $31,833 @ 7.0% cap · market cap 8.49%
Second Best
Specialty Retail
$369.0K
$322.9K – $430.5K
NOI $25,831 @ 7.0% cap · market cap 6.89%
Theoretical Best
Healthcare Medical
$535.6K
$468.6K – $624.8K
NOI $37,490 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines an operating brew house with two renovated apartments.
Where is this mixed-use property located?
The property is located at 204 W Main Street 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: 1901 construction with renovated historic building fabric; Operating ground‑floor brew house with beer, cider, and wine service; Two renovated upper‑level apartments: one 1‑bedroom and one 2‑bedroom
