Three-Unit Mixed-Use
New
For Sale
Contact for pricing
215 3rd Street, New Cumberland, PA 17070
Three units combine two occupied residences with a commercially used space.
Property Size3,700 SF
Price / SF$94.59
Days on Market6
Property Features for 215 3rd Street
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Multifamily, Mixed Use
Zoning
commercial
Building Details
Year Built
1930
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
ADP Realty and Property Management
Listed By:
Aaron Piscioneri · License #PA
Source:
Crexi
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 1 at 9:29PM
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 ADP Realty and Property Management
Investment Insights
Based on property information with market context.
This mixed-use property contains 3,700 square feet arranged across three units. Two are residential spaces occupied by tenants, while the third is used commercially, creating a combination of residential and business occupancy within one building. Constructed in 1930, the property carries commercial zoning.
The building is located in downtown New Cumberland at 215 3rd Street, New Cumberland, PA 17070. Its central downtown setting places residential and commercial functions within the same property and provides a straightforward configuration for an owner seeking a small mixed-use asset.
The building is located in downtown New Cumberland at 215 3rd Street, New Cumberland, PA 17070. Its central downtown setting places residential and commercial functions within the same property and provides a straightforward configuration for an owner seeking a small mixed-use asset.
Key Highlights
- 3,700‑square‑foot mixed‑use property
- Three total units in one building
- Two residential units are currently tenant occupied
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
$31,252
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
8.93%
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%
$625,040
$625.0K
Cap Rate 7%
$446,457
$446.5K
Cap Rate 9%
$347,244
$347.2K
Market Conditions
NOI Build-Up for 3,700 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
$60.4K $16.32/SF
− Vacancy
−$3.6K −$0.96/SF
EGI
$56.8K $15.36/SF
− OpEx
−$25.6K −$6.91/SF
NOI
$31.3K $8.45/SF
Area
Cumberland County, PA
Vacancy
5.90%
Lease Rate
$16.32 /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%
$625,040
Cap Rate 7%
$446,457
Cap Rate 9%
$347,244
Alternative Uses
Best Use
Multifamily LT 5
$502.9K
$440.1K – $586.7K
NOI $35,204 @ 7.0% cap · market cap 10.06%
Second Best
Mixed Use
$495.0K
$433.2K – $577.6K
NOI $34,653 @ 7.0% cap · market cap 9.90%
Theoretical Best
Office A
$859.5K
$752.1K – $1.00M
NOI $60,164 @ 7.0% cap · market cap 17.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
Explore this area
Business Placement
Demographics for 17070, PA
16,359
Population
7,487
Households
2.2
Avg Household Size
43
Median Age
36%
College-Educated
94%
High-School Grad
14.6 sq mi
ZIP Area
1,120
Density / Sq Mi
$91,100
Median Household Income
$52,207
Median Earnings
$1,046
Median Rent
$240,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three units combine two occupied residences with a commercially used space.
Where is this mixed-use property located?
The property is located at 215 3rd Street New Cumberland, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 3,700‑square‑foot mixed‑use property; Three total units in one building; Two residential units are currently tenant occupied
