Three-Story Mixed-Use
For Sale
Contact for pricing
206 E Market St, West Chester, PA 19382
Office floors and a two-bedroom apartment are paired with rear off-street parking in a Town Center-zoned property.
Property Size3,354 SF
Price / SF$290.70
Days on Market97
Property Features for 206 E Market St
General Information
Standard status
Active
Size
3,354 SF
Total Parking Spaces
5
Property subtype
OFFICE
Zoning
Town Center
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Floor
1-2
Building Details
Buildings
1
Stories
3
Listing Agency:
Swope Lees Commercial Real Estate, LLC
(610) 804-7897
Listed By:
Chuck Swope
Source:
Moodyscre
Added: May 28
Changed: Aug 29
Last Checked: Aug 31 at 7:47PM
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 Swope Lees Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
This three-story mixed-use property combines office space on the first and second floors with a two-bedroom apartment above. Each office level contains 1,194 SF, while the building totals 3,354 square feet. Five off-street parking spaces are located behind the building, supporting the office and residential components.
The property is at 206 E Market St in West Chester, within the downtown area. Town Center zoning applies, and an approved and recorded plan is in place for the vacant lot. The combination of office and residential space creates a vertically integrated commercial property with separate floor-by-floor uses.
The property is at 206 E Market St in West Chester, within the downtown area. Town Center zoning applies, and an approved and recorded plan is in place for the vacant lot. The combination of office and residential space creates a vertically integrated commercial property with separate floor-by-floor uses.
Key Highlights
- 3,354‑square‑foot, three‑story mixed‑use building at 206 E Market St
- First- and second‑floor office space measuring 1,194 SF per floor
- Third‑floor two‑bedroom apartment
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
$52,730
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
5.41%
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%
$1,054,600
$1.1M
Cap Rate 7%
$753,286
$753.3K
Cap Rate 9%
$585,889
$585.9K
Market Conditions
NOI Build-Up for 3,354 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
$87.3K $26.04/SF
− Vacancy
−$17.0K −$5.08/SF
EGI
$70.3K $20.96/SF
− OpEx
−$17.6K −$5.24/SF
NOI
$52.7K $15.72/SF
Area
Chester County, PA
Vacancy
19.50%
Lease Rate
$26.04 /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%
$1,054,600
Cap Rate 7%
$753,286
Cap Rate 9%
$585,889
Alternative Uses
Best Use
Office B
$753.3K
$659.1K – $878.8K
NOI $52,730 @ 7.0% cap · market cap 5.41%
Second Best
Mixed Use
$734.3K
$642.5K – $856.7K
NOI $51,403 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$1.02M
$889.8K – $1.19M
NOI $71,183 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,988
Businesses Nearby
Explore this area
Business Placement
Demographics for 19382, PA
52,498
Population
21,798
Households
2.4
Avg Household Size
40
Median Age
64%
College-Educated
98%
High-School Grad
46.1 sq mi
ZIP Area
1,139
Density / Sq Mi
$126,159
Median Household Income
$58,596
Median Earnings
$1,788
Median Rent
$542,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office floors and a two-bedroom apartment are paired with rear off-street parking in a Town Center-zoned property.
Where is this mixed-use property located?
The property is located at 206 E Market St West Chester, PA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3,354‑square‑foot, three‑story mixed‑use building at 206 E Market St; First- and second‑floor office space measuring 1,194 SF per floor; Third‑floor two‑bedroom apartment
