Retail Space in
For Sale
Contact for pricing
Pending
241 N Main St, Shrewsbury, PA 17361
Retail space with flexible layout in Shrewsbury, Pennsylvania.
Property Size5,280 SF
Days on Market150
Property Features for 241 N Main St
General Information
Standard status
Pending
Size
5,280 SF
Class
B
Total Parking Spaces
34
Property subtype
Office, Retail
Zoning
Commercial District
Building Details
Year Built
2003
Buildings
1
Stories
1
Units
1
Listing Agency:
ROCK Commercial Real Estate
(717) 854-5357
Listed By:
Kevin Hodge · License #PA RS275393
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Aug 2 at 5:19AM
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 ROCK Commercial Real Estate
Investment Insights
Based on property information with market context.
Located just north of downtown Shrewsbury on N Main Street, this retail space benefits from shared signalized access with a convenience store and an auto parts retailer. Originally constructed as a karate studio, the property was most recently used as a dance studio. The 5,280 square-foot layout features a combination of large, open rooms with a moveable wall partition, smaller rooms, a waiting area, and two bathrooms. This single-unit retail space offers versatile potential for various business uses.
Key Highlights
- Located just north of downtown Shrewsbury on N Main Street.
- Shared signalized access between Rutters and Brooks‑Huff.
- Layout includes large open rooms with a moveable wall partition.
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
$63,002
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
9.01%
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%
$1,260,040
$1.3M
Cap Rate 7%
$900,029
$900.0K
Cap Rate 9%
$700,022
$700.0K
Market Conditions
NOI Build-Up for 5,280 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
$95.0K $18.00/SF
− Vacancy
−$5.0K −$0.95/SF
EGI
$90.0K $17.05/SF
− OpEx
−$27.0K −$5.11/SF
NOI
$63.0K $11.93/SF
Area
York County, PA
Vacancy
5.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,260,040
Cap Rate 7%
$900,029
Cap Rate 9%
$700,022
Alternative Uses
Best Use
Retail
$900.0K
$787.5K – $1.05M
NOI $63,002 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,012 @ 7.0% cap · market cap 15.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
85k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 37%
Groceries 20%
Electronics 4%
Starbucks
Dining
17,012 visits/mo
0.4 miles
Saubel's Markets
Groceries
16,689 visits/mo
0.5 miles
Rutters
Shops & Services
13,534 visits/mo
0.1 miles
Wendy's
Dining
12,845 visits/mo
0.5 miles
Santander Bank
Shops & Services
7,953 visits/mo
0.5 miles
Demographics for 17361, PA
5,961
Population
2,690
Households
2.2
Avg Household Size
47
Median Age
40%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
1,987
Density / Sq Mi
$100,368
Median Household Income
$58,514
Median Earnings
$1,121
Median Rent
$292,300
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?
Retail space - Retail space with flexible layout in Shrewsbury, Pennsylvania.
Where is this retail space located?
The property is located at 241 N Main St Shrewsbury, PA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Located just north of downtown Shrewsbury on N Main Street.; Shared signalized access between Rutters and Brooks‑Huff.; Layout includes large open rooms with a moveable wall partition.
