Five-Unit Mixed-Use
For Sale
$995,000
205 E KING Street, Lancaster, PA 17602
Multi-Family, LANCASTER, PA
Property Size3,049 SF
Lot Size0.07 Acres
Price / SF$326.34
Days on Market50
Property Features for 205 E KING Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
2
Parking features
Garage - Attached, On Street
Subdivision
MUSSER PARK
High school
MCCASKEY CAMPUS
Elementary school district
SCHOOL DISTRICT OF LANCASTER
Middle school district
SCHOOL DISTRICT OF LANCASTER
High school district
SCHOOL DISTRICT OF LANCASTER
Standard status
Active
Size
3,049 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6403
Utilities
Heating system
Hot Water(Heating), Forced Air
Cooling system
Ductless
Amenities
private deck
large backyard
shared patio
garage
Building Details
Year built
1870
Number of units
4
Building materials
Brick
Listing Agency:
Lusk & Associates Sotheby's International Realty
(717) 291-9101
Listed By:
Anne M Lusk · License #RS210178L
(717) 271-9339
Added: Aug 18
Changed: Sep 29
Last Checked: Oct 6 at 7:06PM
MLS# PALA2093954
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,049-square-foot brick mixed-use property, built in 1870, contains five units consisting of four residential apartments and a ground-floor commercial space. Residential accommodations include a carriage house with a garage, kitchen, bathroom, two-story living room, lofted sleeping area, private deck, and access to a large backyard. Additional units include one-bedroom apartments and a home-style layout with a mudroom entry, kitchen, living room, two bedrooms, and a full bath.
The commercial area is positioned at the front of the building and is offered as an adaptable space for customization. Heating includes forced air and hot water, while cooling is provided by ductless systems. Parking includes an attached garage and on-street options.
Located at 205 E King Street in Lancaster, the property is near Central Market, the Fulton Theatre, the Ware Center, the courthouse, restaurants, coffee shops, bakeries, shopping, and entertainment venues.
The commercial area is positioned at the front of the building and is offered as an adaptable space for customization. Heating includes forced air and hot water, while cooling is provided by ductless systems. Parking includes an attached garage and on-street options.
Located at 205 E King Street in Lancaster, the property is near Central Market, the Fulton Theatre, the Ware Center, the courthouse, restaurants, coffee shops, bakeries, shopping, and entertainment venues.
Key Highlights
- Five‑unit configuration with four residential units and one ground‑floor commercial space
- 3,049 square feet on a 0.07‑acre lot
- Brick construction dating to 1870
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,869
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,380
$757.4K
Cap Rate 7%
$540,986
$541.0K
Cap Rate 9%
$420,767
$420.8K
Market Conditions
NOI Build-Up for 3,049 SF
Gross rent
$65.9K $21.60/SF
− Vacancy
−$5.3K −$1.73/SF
EGI
$60.6K $19.87/SF
− OpEx
−$22.7K −$7.45/SF
NOI
$37.9K $12.42/SF
Area
Lancaster County, PA
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,380
Cap Rate 7%
$540,986
Cap Rate 9%
$420,767
Alternative Uses
Best Use
Mixed Use
$541.0K
$473.4K – $631.2K
NOI $37,869 @ 7.0% cap · market cap 3.81%
Second Best
Retail
$512.6K
$448.5K – $598.0K
NOI $35,882 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$1.02M
$894.0K – $1.19M
NOI $71,522 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,528
Businesses Nearby
Explore this area
Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick property combines four residential units with a customizable ground-floor commercial space in downtown Lancaster.
Where is this mixed-use property located?
The property is located at 205 E KING Street Lancaster, PA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Five‑unit configuration with four residential units and one ground‑floor commercial space; 3,049 square feet on a 0.07‑acre lot; Brick construction dating to 1870
