Mixed-Use Property with
For Sale
$749,900
220 & 1/2 W Main St, Waynesboro, PA 17268
Upper-level living space complements a bar and restaurant-ready commercial floor with General Commercial zoning.
Property Size6,000 SF
Price / SF$124.98
Days on Market19
Property Features for 220 & 1/2 W Main St
General Information
Standard status
Active
Size
6,000 SF
Building Details
Year Built
1900
Listing Agency:
Samson Properties
(717) 762-8000
Listed By:
Donald E Truett · License #RS307513
Source:
Kandorre
Added: Aug 12
Changed: Aug 30
Last Checked: Aug 25 at 6:17AM
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 Samson Properties
Investment Insights
Based on property information with market context.
This mixed-use property combines a multi-level residence with an established commercial configuration. The second and third floors provide approximately 2,200 sq. ft. of living space with 2 bedrooms, 1.5 baths, and in-unit laundry. The main level is arranged for bar or restaurant operations, with seating for approximately 80 guests, two public restrooms, and an outdoor patio. The total property size is 6,000 square feet.
Located at 220 & 1/2 W Main St in downtown Waynesboro, the property includes off-street and on-site parking plus a detached two-car garage. General Commercial zoning supports the existing mixed-use arrangement and a range of business applications. Built in 1900, the property offers a live-work configuration in a central downtown setting.
Located at 220 & 1/2 W Main St in downtown Waynesboro, the property includes off-street and on-site parking plus a detached two-car garage. General Commercial zoning supports the existing mixed-use arrangement and a range of business applications. Built in 1900, the property offers a live-work configuration in a central downtown setting.
Key Highlights
- Approximately 2,200 sq. ft. of living space across the second and third floors
- Main level configured for bar and restaurant use with seating for approximately 80 guests
- Two public restrooms, in‑unit laundry, and outdoor patio
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
$59,400
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
7.92%
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%
$1,188,000
$1.2M
Cap Rate 7%
$848,571
$848.6K
Cap Rate 9%
$660,000
$660.0K
Market Conditions
NOI Build-Up for 6,000 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
$108.0K $18.00/SF
− Vacancy
−$13.0K −$2.16/SF
EGI
$95.0K $15.84/SF
− OpEx
−$35.6K −$5.94/SF
NOI
$59.4K $9.90/SF
Area
Franklin County, PA
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,188,000
Cap Rate 7%
$848,571
Cap Rate 9%
$660,000
Alternative Uses
Best Use
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,946 @ 7.0% cap · market cap 10.79%
Second Best
Office B
$1.06M
$924.4K – $1.23M
NOI $73,948 @ 7.0% cap · market cap 9.86%
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,837 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
Explore this area
Business Placement
Demographics for 17268, PA
29,587
Population
12,693
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
77.8 sq mi
ZIP Area
380
Density / Sq Mi
$69,715
Median Household Income
$44,106
Median Earnings
$1,081
Median Rent
$225,900
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 - Upper-level living space complements a bar and restaurant-ready commercial floor with General Commercial zoning.
Where is this mixed-use property located?
The property is located at 220 & 1/2 W Main St Waynesboro, PA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Approximately 2,200 sq. ft. of living space across the second and third floors; Main level configured for bar and restaurant use with seating for approximately 80 guests; Two public restrooms, in‑unit laundry, and outdoor patio
