Renovated Commercial Space on
For Sale
Contact for pricing
2668 Lititz Pike, Lancaster, PA 17601
Completely renovated commercial space with flexible zoning and high visibility.
Property Size2,215 SF
Price / SF$225.69
Days on Market177
Property Features for 2668 Lititz Pike
General Information
Standard status
Active
Size
2,215 SF
Property subtype
Retail
Zoning
B2
Building Details
Year Renovated
2020
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty Lancaster
Listed By:
Tim Shreiner · License #PA RS187003L
Source:
Crexi
Added: Feb 16
Changed: Aug 8
Last Checked: Aug 8 at 2:56PM
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 Berkshire Hathaway HomeServices Homesale Realty Lancaster
Investment Insights
Based on property information with market context.
This completely renovated commercial space features stylish, modern finishes. The main building was renovated top to bottom in 2021, including new electrical, plumbing, and HVAC systems. The property also features new paint, flooring, and fixtures. A new roof and windows were installed in approximately 2020. The property is zoned B2, which allows for a variety of commercial uses, including the possibility of a residential unit. The property has high visibility on Lititz Pike, near the intersection of Lititz Pike and Valley Road, with an average daily vehicle count of 21,000. The property also includes a two-story, 20' x 20' barn with newer siding and roofing.
Key Highlights
- Completely renovated in 2021 with new electrical, plumbing, HVAC (3 units), paint, flooring, and fixtures.
- Flexible B2 zoning allows for a wide range of commercial uses, including potential for a residential unit.
- High visibility location on Lititz Pike with a daily vehicle count of 21,000.**
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
$26,067
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
5.21%
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%
$521,340
$521.3K
Cap Rate 7%
$372,386
$372.4K
Cap Rate 9%
$289,633
$289.6K
Market Conditions
NOI Build-Up for 2,215 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
$39.9K $18.00/SF
− Vacancy
−$2.6K −$1.19/SF
EGI
$37.2K $16.81/SF
− OpEx
−$11.2K −$5.04/SF
NOI
$26.1K $11.77/SF
Area
Lancaster County, PA
Vacancy
6.60%
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%
$521,340
Cap Rate 7%
$372,386
Cap Rate 9%
$289,633
Alternative Uses
Best Use
Retail
$372.4K
$325.8K – $434.5K
NOI $26,067 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$742.3K
$649.5K – $866.0K
NOI $51,958 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,605
Businesses Nearby
723k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 27%
Superstores 25%
Shops & Services 21%
Apparel 15%
Target
Superstores
181,049 visits/mo
0.3 miles
Chick-fil-A
Dining
101,609 visits/mo
0.5 miles
Giant Food Store
Groceries
78,488 visits/mo
0.2 miles
DICK'S Sporting Goods
Apparel
72,707 visits/mo
0.4 miles
Sheetz
Shops & Services
60,427 visits/mo
0.3 miles
Demographics for 17601, PA
55,710
Population
23,126
Households
2.4
Avg Household Size
43
Median Age
48%
College-Educated
94%
High-School Grad
33.5 sq mi
ZIP Area
1,663
Density / Sq Mi
$96,433
Median Household Income
$50,358
Median Earnings
$1,477
Median Rent
$324,000
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 - Completely renovated commercial space with flexible zoning and high visibility.
Where is this retail space located?
The property is located at 2668 Lititz Pike Lancaster, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Completely renovated in 2021 with new electrical, plumbing, HVAC (3 units), paint, flooring, and fixtures.; Flexible B2 zoning allows for a wide range of commercial uses, including potential for a residential unit.; High visibility location on Lititz Pike with a daily vehicle count of 21,000.**
