For Sale
Contact for pricing
210 Muench Street, Harrisburg, PA 17102
Apartment buildings
Property Size71,753 SF
Price / SF$89.19
Days on Market98
Property Features for 210 Muench Street
General Information
Standard status
Active
Size
71,753 SF
Property subtype
Multifamily
Occupancy
95%
Investment Type
Value Add
Net Operating Income
$508,894
Additional Details
Multifamily Units
53
Building Details
Buildings
35
Units
53
Tenancy
Multi
Listing Agency:
VRA Realty Commercial
(610) 291-9895
Listed By:
Brady Carroll · License #RS318466
Source:
Crexi
Added: May 4
Changed: Aug 7
Last Checked: Aug 9 at 5:39AM
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 VRA Realty Commercial
Investment Insights
Based on property information with market context.
Key Highlights
- 53‑unit stabilized, income‑producing residential and multifamily portfolio in Harrisburg, Pennsylvania
- Portfolio is located in the Olde Uptown neighborhood
- Offered through a single transaction for immediate scale
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
$570,746
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
8.92%
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%
$11,414,920
$11.4M
Cap Rate 7%
$8,153,514
$8.2M
Cap Rate 9%
$6,341,622
$6.3M
Market Conditions
NOI Build-Up for 71,753 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
$1.13M $15.72/SF
− Vacancy
−$90.2K −$1.26/SF
EGI
$1.04M $14.46/SF
− OpEx
−$467.0K −$6.51/SF
NOI
$570.7K $7.95/SF
Area
Dauphin County, PA
Vacancy
8.00%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$11,414,920
Cap Rate 7%
$8,153,514
Cap Rate 9%
$6,341,622
Alternative Uses
Best Use
Apartment 5plus
$8.15M
$7.13M – $9.51M
NOI $570,746 @ 7.0% cap · market cap 8.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$132.15M
$115.63M – $154.18M
NOI $9,250,756 @ 7.0% cap · market cap 144.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
53
Residential units
Location Intelligence
Trade Area within ½ mile
1,184
Businesses Nearby
Explore this area
Business Placement
Demographics for 17102, PA
7,989
Population
5,105
Households
1.6
Avg Household Size
37
Median Age
50%
College-Educated
91%
High-School Grad
0.8 sq mi
ZIP Area
9,986
Density / Sq Mi
$55,369
Median Household Income
$47,544
Median Earnings
$1,062
Median Rent
$172,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
Where is this apartment building located?
The property is located at 210 Muench Street Harrisburg, PA.
What is the asking price?
The asking price for this property is $6,400,000.
What are key features of this property?
This property features: 53‑unit stabilized, income‑producing residential and multifamily portfolio in Harrisburg, Pennsylvania; Portfolio is located in the Olde Uptown neighborhood; Offered through a single transaction for immediate scale
