Flex Building with Drive-In
For Sale
$975,000
217 S MAIN STREET, Manheim, PA 17545
Office and warehouse areas create a versatile commercial configuration.
Property Size8,555 SF
Price / SF$113.97
Days on Market8
Property Features for 217 S MAIN STREET
General Information
Standard status
Active
Size
8,555 SF
Property subtype
Commercial
Zoning
Highway Commercial
Additional Details
Drive-In Doors
2
Building Details
Year Built
1918
Buildings
1
Building Size
8,555 SF
Tenancy
Multi
Listing Agency:
U.S. Commercial Realty
(717) 917-9367
Listed By:
Aaron Robert Skelly · License #RS354990
(717) 917-9367
Source:
Cummingsrealtors
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 6:54AM
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 U.S. Commercial Realty
Investment Insights
Based on property information with market context.
This flex building at 217 S Main Street combines office areas with warehouse space within an approximately 8,555 SF footprint. Two drive-in doors provide direct vehicle access to the building. Constructed in 1918, the property is currently occupied by three tenants, including two small front-office occupants and the owner-operated Country Tire Barn in the balance of the building. The owner may vacate for a user.
The property carries Highway Commercial zoning in Manheim Borough. Its position along S Main Street places the office areas at the front of the building, with warehousing space behind. The existing division between office and warehouse functions supports a range of commercial configurations without adding unsupported assumptions about permitted operations.
The property carries Highway Commercial zoning in Manheim Borough. Its position along S Main Street places the office areas at the front of the building, with warehousing space behind. The existing division between office and warehouse functions supports a range of commercial configurations without adding unsupported assumptions about permitted operations.
Key Highlights
- +/- 8,555 SF flex building with office and warehousing space
- Two drive‑in doors service the building
- Highway Commercial zoning in Manheim Borough
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
$57,856
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
5.93%
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%
$1,157,120
$1.2M
Cap Rate 7%
$826,514
$826.5K
Cap Rate 9%
$642,844
$642.8K
Market Conditions
NOI Build-Up for 8,555 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
$73.7K $8.62/SF
− Vacancy
−$5.7K −$0.66/SF
EGI
$68.1K $7.96/SF
− OpEx
−$10.2K −$1.19/SF
NOI
$57.9K $6.76/SF
Area
Lancaster County, PA
Vacancy
7.70%
Lease Rate
$8.62 /SF/Yr
Expense Ratio
15.00%
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%
$1,157,120
Cap Rate 7%
$826,514
Cap Rate 9%
$642,844
Alternative Uses
Best Use
Office B
$2.02M
$1.77M – $2.36M
NOI $141,636 @ 7.0% cap · market cap 14.53%
Second Best
Retail
$1.44M
$1.26M – $1.68M
NOI $100,679 @ 7.0% cap · market cap 10.33%
Theoretical Best
Office A
$2.87M
$2.51M – $3.34M
NOI $200,678 @ 7.0% cap · market cap 20.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17545, PA
22,718
Population
9,382
Households
2.4
Avg Household Size
42
Median Age
30%
College-Educated
90%
High-School Grad
69.8 sq mi
ZIP Area
325
Density / Sq Mi
$87,589
Median Household Income
$47,755
Median Earnings
$1,325
Median Rent
$271,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Twisted Sisters Ice Cream and Handmade Chocolates Manheim — 47 N Main St, Manheim, PA 17545
- Rettew's Catering — 309 S Main St, Manheim, PA 17545
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas create a versatile commercial configuration.
Where is this flex space located?
The property is located at 217 S MAIN STREET Manheim, 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: +/- 8,555 SF flex building with office and warehousing space; Two drive‑in doors service the building; Highway Commercial zoning in Manheim Borough
