Building Details

Year built 1879

Number of units 4

Building materials Frame, Vinyl Siding, Block, Concrete

Architectural style Other

Listing Agency: Berkshire Hathaway HomeServices Homesale Realty s***@homesale.com Show Phone

Listed By: Ken Kirchoff · License #RS287964 Show Phone

Added: Aug 17 Changed: Sep 17 Last Checked: Oct 7 at 6:06PM

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MLS# PALA2093802

Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This mixed-use property combines two residential homes with substantial commercial and accessory improvements. One 2-story residence contains 3 bedrooms, 1 bath, and 1,400 finished square feet; the second offers 5 bedrooms, 2 baths, and 3,137 finished square feet across two stories. The larger home is owner occupied, while the smaller residence has a long-term tenant. A separate warehouse and office building provides approximately 7,000 square feet with 15–16-foot ceilings. An additional approximately 2,200-square-foot steel building includes 4+ horse stalls.

The property encompasses 1.23 acres at 240–244 Railroad Avenue in Bird in Hand, Lancaster County, Pennsylvania. BH zoning supports the existing combination of manufacturing and servicing business use with residential occupancy and allows multiple other use types. Improvements include frame, vinyl siding, block, and concrete construction, along with radiant and hot-water heating, window-unit cooling, a detached garage, driveway parking, and a fireplace.

Key Highlights

• 1.23‑acre mixed‑use property at 240–244 Railroad Avenue, Bird in Hand, PA 17505
• Two residential homes with 3 bedrooms/1 bath and 5 bedrooms/2 baths
• Approximately 7,000 sq ft warehouse/office building with 15–16 ft ceilings

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$99,782

Cap Rate

6.65%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,995,640 $2.0M

Cap Rate 7%

$1,425,457 $1.4M

Cap Rate 9%

$1,108,689 $1.1M

Market Conditions

NOI Build-Up for 8,034 SF

Gross rent

$173.5K $21.60/SF

− Vacancy

−$13.9K −$1.73/SF

EGI

$159.7K $19.87/SF

− OpEx

−$59.9K −$7.45/SF

NOI

$99.8K $12.42/SF

Area

Lancaster County, PA

Vacancy

8.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,995,640

Cap Rate 7%

$1,425,457

Cap Rate 9%

$1,108,689

Alternative Uses

Best Use

Mixed Use

$1.43M

$1.25M – $1.66M (±1% cap)

NOI $99,782 @ 7.0% cap · market cap 6.65%

Second Best

Apartment 5plus

$1.13M

$989.2K – $1.32M (±1% cap)

NOI $79,139 @ 7.0% cap · market cap 5.28%

Theoretical Best

Office A

$2.69M

$2.36M – $3.14M (±1% cap)

NOI $188,457 @ 7.0% cap · market cap 12.56%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick Electrical Service Storage Facility Hair Salon (Bike/Boat/Book/etc) Store Nail Salon Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16 ft

Clear height

Location Intelligence

Trade Area within ½ mile

134

Businesses Nearby

Explore this area Business Placement

Demographics for 17505, PA

2,018

Population

564

Households

3.6

Avg Household Size

28

Median Age

12%

College-Educated

64%

High-School Grad

7.4 sq mi

ZIP Area

273

Density / Sq Mi

$109,514

Median Household Income

$38,033

Median Earnings

$1,609

Median Rent

$373,600

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - Three-unit property combining residences, business space, and a separate steel building on 1.23 acres.

Where is this mixed-use property located?

The property is located at 240 - 244 RAILROAD Avenue Bird in Hand, PA.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: 1.23‑acre mixed‑use property at 240–244 Railroad Avenue, Bird in Hand, PA 17505; Two residential homes with 3 bedrooms/1 bath and 5 bedrooms/2 baths; Approximately 7,000 sq ft warehouse/office building with 15–16 ft ceilings