Renovated Two-Story
For Sale
$793,900
26 W High St, Carlisle, PA 17013
Renovated restaurant with rear parking and access to a downtown parking garage.
Property Size5,070 SF
Price / SF$156.59
Days on Market12
Property Features for 26 W High St
General Information
Standard status
Active
Size
5,070 SF
Total Parking Spaces
10
Additional Details
Seating Capacity
99
Amenities
seating for 99
Building Details
Year Built
1840
Buildings
1
Stories
2
Listing Agency:
Sterling Property Management, Inc..
(717) 258-5800
Listed By:
J MICHAEL ADLER
Source:
Kableteam
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 28 at 12:53PM
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 Sterling Property Management, Inc..
Investment Insights
Based on property information with market context.
This 5,070-square-foot restaurant occupies a historic building constructed in 1840 and renovated since 2017. Dining areas span the first and second floors, with seating for 99 guests.
The property includes 10 parking spaces behind the building, with the downtown Carlisle parking garage immediately to the rear. On-street parking is also available, providing additional parking options for visitors.
The property includes 10 parking spaces behind the building, with the downtown Carlisle parking garage immediately to the rear. On-street parking is also available, providing additional parking options for visitors.
Key Highlights
- 5,070‑square‑foot restaurant building
- Renovated since 2017
- Seating for 99 across the first and second floors
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
$52,292
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
6.59%
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%
$1,045,840
$1.0M
Cap Rate 7%
$747,029
$747.0K
Cap Rate 9%
$581,022
$581.0K
Market Conditions
NOI Build-Up for 5,070 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
$73.0K $14.40/SF
− Vacancy
−$3.3K −$0.65/SF
EGI
$69.7K $13.75/SF
− OpEx
−$17.4K −$3.44/SF
NOI
$52.3K $10.31/SF
Area
Cumberland County, PA
Vacancy
4.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,045,840
Cap Rate 7%
$747,029
Cap Rate 9%
$581,022
Alternative Uses
Best Use
Specialty Retail
$747.0K
$653.7K – $871.5K
NOI $52,292 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,441 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,471
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17013, PA
36,578
Population
16,065
Households
2.3
Avg Household Size
39
Median Age
34%
College-Educated
93%
High-School Grad
39.2 sq mi
ZIP Area
933
Density / Sq Mi
$68,150
Median Household Income
$36,336
Median Earnings
$1,018
Median Rent
$221,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Renovated restaurant with rear parking and access to a downtown parking garage.
Where is this conventional restaurant located?
The property is located at 26 W High St Carlisle, PA.
What is the asking price?
The asking price for this property is $793,900.
What are key features of this property?
This property features: 5,070‑square‑foot restaurant building; Renovated since 2017; Seating for 99 across the first and second floors
