Two-Story Office/Flex
221 E Princess St York, PA 17403
For Sale
$325,000
Vacant two-unit office/flex building with dedicated on-site parking, suited for professional, medical, or wellness use.
Property Size5,250 SF
Lot Size0.19 Acres
Price / SF$61.90
Days on Market66
Property Features for 221 E Princess St
General Information
- Standard status
- Active
- Size
- 5,250 SF
- Lot size
- 0.19 Acres
Listing Agency:
Weichert Realtors - The Ortega Group
(717) 587-6515
Listed By:
Luis R. Ortega Jr.
(717) 587-6515
Source:
Exprealty
Added: May 20
Changed: Jul 10
Last Checked: Jul 23 at 10:15AM
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 Weichert Realtors - The Ortega Group
Investment Insights
Based on property information with market context.
This two-story commercial building offers a flexible office/flex layout arranged as two distinct suites on the first and second floors. The property totals approximately 5,250 square feet and includes a vacant interior, providing a blank canvas for renovation and customization. The building is supported by a dedicated on-site parking lot, and the overall configuration can accommodate a range of professional and office-related uses.
Located on a high-visibility corner on E. Princess Street at 221-225 E. Princess St, the property sits on an approximately 8,466 square foot lot. With immediate possession at closing, it is positioned for buyers who want to control timing and scope. The asset is zoned for office/flex commercial use.
Given the combination of on-site parking, a two-suite office/flex format, and a vacant condition, the building can fit organizations and operators seeking an adaptable downtown base. It may be suitable for non-profit and professional services tenants, as well as medical or wellness office concepts, subject to the applicable requirements of the buyer’s intended improvements and use within the office/flex zoning framework.
Located on a high-visibility corner on E. Princess Street at 221-225 E. Princess St, the property sits on an approximately 8,466 square foot lot. With immediate possession at closing, it is positioned for buyers who want to control timing and scope. The asset is zoned for office/flex commercial use.
Given the combination of on-site parking, a two-suite office/flex format, and a vacant condition, the building can fit organizations and operators seeking an adaptable downtown base. It may be suitable for non-profit and professional services tenants, as well as medical or wellness office concepts, subject to the applicable requirements of the buyer’s intended improvements and use within the office/flex zoning framework.
Key Highlights
- Vacant two‑story commercial building with 5,250 SF total in a two‑unit office/flex layout
- 8,466 SF lot at 221‑225 E. Princess Street with dedicated on‑site parking lot
- High‑visibility corner location on E. Princess Street
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.0k | $8.76 |
| − Vacancy | −$2.6k | −$0.49 |
| EGI | $43.4k | $8.27 |
| − OpEx | −$15.2k | −$2.89 |
| NOI | $28.2k | $5.38 |
5,250 SF · lease $8.76/SF/yr · vacancy 5.60% · expense 35.00%
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $83,701 @ 7.0% cap · market cap 25.75%
Second Best
Industrial
$437.6K
$382.9K – $510.6K
NOI $30,633 @ 7.0% cap · market cap 9.43%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,404 @ 7.0% cap · market cap 32.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar Off Market Nearby
- Altland House Catering & Events — 142 n george st, york, pa 17401
- Hector Arias Flair Bartender — 347 E Market St, York, PA 17403
- Central Family Restaurant — 400 N George St, York, PA 17401
- Nonna's Italian Catering — 37 W Clarke Ave, York, PA 17401
FAQs
What type of property is this?
Flex space - Vacant two-unit office/flex building with dedicated on-site parking, suited for professional, medical, or wellness use.
Where is this flex space located?
The property is located at 221 E Princess St York, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Vacant two‑story commercial building with 5,250 SF total in a two‑unit office/flex layout; 8,466 SF lot at 221‑225 E. Princess Street with dedicated on‑site parking lot; High‑visibility corner location on E. Princess Street
