Downtown Lancaster Mixed-Use
205 East King Street Lancaster, PA 17602
For Sale
$1,095,000
Five-unit property with commercial space in vibrant downtown Lancaster.
Property Size3,049 SF
Price / SF$359.13
Days on Market124
Property Features for 205 East King Street
General Information
- Standard status
- Active
- Size
- 3,049 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1870
Listing Agency:
Lusk & Associates Sotheby's International Realty
(717) 271-9339
Listed By:
Anne M Lusk · License #RS210178L
(717) 271-9339
Source:
Compass
Added: Mar 25
Changed: Jul 10
Last Checked: Jul 26 at 5:30AM
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 Lusk & Associates Sotheby's International Realty
Investment Insights
Based on property information with market context.
Located in downtown Lancaster, this five-unit mixed-use property offers a commercial space and four residential units. The property is situated in the Musser Park area, providing access to restaurants, coffee shops, bakeries, shopping, and entertainment. It is near Central Market, the Fulton Theatre, the Ware Center, and the courthouse. The carriage house includes a garage on the lower level and an upper-level living space with a kitchen, bathroom, two-story living room, and lofted sleeping area, along with a private deck and large backyard. A second-floor unit features one bedroom, one bath, and a deck, with access to a shared patio. The rear unit also offers one bedroom and one bath, combining original character with modern updates. The first-floor commercial space is ready to be customized for various uses, benefiting from foot traffic in the downtown area. The fourth residential unit includes a mudroom-style entry, a second-floor living area with a kitchen and living room, and a third floor with two bedrooms and a full bath. The property is 3049 square feet.
Key Highlights
- Prime Downtown Lancaster location in Musser Park, offering unmatched walkability.
- Mixed‑use property with a first‑floor commercial space and four residential units, providing diverse income streams.
- Unique carriage house featuring a garage, upper‑level living space and a private deck.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.9k | $21.60 |
| − Vacancy | −$5.3k | −$1.73 |
| EGI | $60.6k | $19.87 |
| − OpEx | −$22.7k | −$7.45 |
| NOI | $37.9k | $12.42 |
3,049 SF · lease $21.60/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$541.0K
$473.4K – $631.2K
NOI $37,869 @ 7.0% cap · market cap 3.46%
Second Best
Retail
$512.6K
$448.5K – $598.0K
NOI $35,882 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$1.02M
$894.0K – $1.19M
NOI $71,522 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
New Beginnings Covenant ...
Church
FAQs
What type of property is this?
Mixed-use property - Five-unit property with commercial space in vibrant downtown Lancaster.
Where is this mixed-use property located?
The property is located at 205 East King Street Lancaster, PA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Prime Downtown Lancaster location in Musser Park, offering unmatched walkability.; Mixed‑use property with a first‑floor commercial space and four residential units, providing diverse income streams.; Unique carriage house featuring a garage, upper‑level living space and a private deck.
