Two-Unit Duplex With Rented
For Sale
$287,900
236 N FRANKLIN ST, Lancaster, PA 17602
Lancaster property with two rental units and a separately leased garage.
Property Size1,997 SF
Price / SF$144.17
Days on Market59
Property Features for 236 N FRANKLIN ST
General Information
Standard status
Active
Size
1,997 SF
Net Rentable
1,997 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
Hostetter Realty LLC
(717) 354-6416
Listed By:
John J Glick · License #3349959
(717) 598-7490
Source:
Hostetterrealty
Added: Aug 16
Changed: Oct 11
Last Checked: Oct 12 at 8:25PM
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 Hostetter Realty LLC
Investment Insights
Based on property information with market context.
Located at 236 N Franklin Street in Lancaster, Pennsylvania, this duplex contains two rental units with approximately 1,997 square feet of combined interior space. The property was built in 1900 and includes a garage leased separately from the residential units, creating a distinct additional rental component.
The property is near downtown Lancaster, shopping, restaurants, schools, and local colleges. Its configuration combines two residential units with a separate garage, offering multiple leasing components within one property.
The property is near downtown Lancaster, shopping, restaurants, schools, and local colleges. Its configuration combines two residential units with a separate garage, offering multiple leasing components within one property.
Key Highlights
- Two rental units in a duplex configuration
- Approximately 1,997 square feet across the two units
- Separately rented garage provides an additional leasing component
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,306
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,120
$446.1K
Cap Rate 7%
$318,657
$318.7K
Cap Rate 9%
$247,844
$247.8K
Market Conditions
NOI Build-Up for 1,997 SF
Gross rent
$32.4K $16.20/SF
− Vacancy
−$485 −$0.24/SF
EGI
$31.9K $15.96/SF
− OpEx
−$9.6K −$4.79/SF
NOI
$22.3K $11.17/SF
Area
Lancaster County, PA
Vacancy
1.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,120
Cap Rate 7%
$318,657
Cap Rate 9%
$247,844
Alternative Uses
Best Use
Multifamily LT 5
$318.7K
$278.8K – $371.8K
NOI $22,306 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$281.0K
$245.9K – $327.9K
NOI $19,671 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$669.2K
$585.6K – $780.7K
NOI $46,844 @ 7.0% cap · market cap 16.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,562
Businesses Nearby
Explore this area
Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Lancaster property with two rental units and a separately leased garage.
Where is this duplex located?
The property is located at 236 N FRANKLIN ST Lancaster, PA.
What is the asking price?
The asking price for this property is $287,900.
What are key features of this property?
This property features: Two rental units in a duplex configuration; Approximately 1,997 square feet across the two units; Separately rented garage provides an additional leasing component
