Three-Story Mixed-Use
For Sale
$430,000
220 East Main Street, Palmyra, PA 17078
Mixed-use layout includes commercial space, an occupied apartment, and an unfinished upper level.
Property Size3,726 SF
Price / SF$115.41
Days on Market318
Property Features for 220 East Main Street
General Information
Standard status
Active
Size
3,726 SF
Total Parking Spaces
1
Property subtype
Multi-Family / Fee Simple
Zoning
MIXED USE
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Average Monthly Rent
$1,200
Taxes and HOA fees
Annual Taxes
$5,786
Amenities
detached garage
No
2+ Access Exits, Ramp - Main Level
No Pool
Above Grade, Below Grade
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
Iron Valley Real Estate of Lancaster
(860) 712-8663
Listed By:
Emily Graham
(860) 712-8663
Source:
Compass
Added: Oct 18, 2025
Changed: Aug 30
Last Checked: Aug 30 at 11:24AM
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 Iron Valley Real Estate of Lancaster
Investment Insights
Based on property information with market context.
This 3,726-square-foot mixed-use property spans three levels and combines commercial and residential components. The approximately 1,000-square-foot main floor is leased for salon use, while the second floor contains a 2-bedroom, 1-bath apartment. The upper level has two bedrooms with closets and a large vaulted-ceiling great room, providing an unfinished area that can be completed as an additional unit. A separate exterior entrance may be added, or access can be extended from the second floor.
Improvements include a roof installed in 2023 and a hot water heater, windows, and electrical panel installed in 2024. The property also offers ample parking, a detached garage, ramp access at the main level, and two or more access exits. Located at 220 East Main Street in Palmyra, Pennsylvania, the property is zoned MIXED USE.
Improvements include a roof installed in 2023 and a hot water heater, windows, and electrical panel installed in 2024. The property also offers ample parking, a detached garage, ramp access at the main level, and two or more access exits. Located at 220 East Main Street in Palmyra, Pennsylvania, the property is zoned MIXED USE.
Key Highlights
- 3,726‑square‑foot, three‑level mixed‑use property
- Approximately 1,000‑square‑foot main floor leased for salon use
- Second‑floor 2‑bedroom, 1‑bath 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
$37,726
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
8.77%
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%
$754,520
$754.5K
Cap Rate 7%
$538,943
$538.9K
Cap Rate 9%
$419,178
$419.2K
Market Conditions
NOI Build-Up for 3,726 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
$67.1K $18.00/SF
− Vacancy
−$6.7K −$1.80/SF
EGI
$60.4K $16.20/SF
− OpEx
−$22.6K −$6.07/SF
NOI
$37.7K $10.13/SF
Area
Lebanon County, PA
Vacancy
10.00%
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%
$754,520
Cap Rate 7%
$538,943
Cap Rate 9%
$419,178
Alternative Uses
Best Use
Mixed Use
$538.9K
$471.6K – $628.8K
NOI $37,726 @ 7.0% cap · market cap 8.77%
Second Best
Retail
$500.2K
$437.7K – $583.6K
NOI $35,015 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$874.6K
$765.3K – $1.02M
NOI $61,220 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
69k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 16%
Sheetz
Shops & Services
46,738 visits/mo
0.5 miles
Wendy's
Dining
9,837 visits/mo
0.4 miles
Turkey Hill Minit Market
Shops & Services
5,224 visits/mo
0.3 miles
Wells Fargo
Shops & Services
3,115 visits/mo
0.5 miles
Advance Auto Parts
Shops & Services
2,772 visits/mo
0.3 miles
Demographics for 17078, PA
23,496
Population
9,602
Households
2.4
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
30.1 sq mi
ZIP Area
781
Density / Sq Mi
$84,533
Median Household Income
$47,141
Median Earnings
$1,252
Median Rent
$278,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use layout includes commercial space, an occupied apartment, and an unfinished upper level.
Where is this mixed-use property located?
The property is located at 220 East Main Street Palmyra, PA.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 3,726‑square‑foot, three‑level mixed‑use property; Approximately 1,000‑square‑foot main floor leased for salon use; Second‑floor 2‑bedroom, 1‑bath apartment
