Five-Unit Apartment
For Sale
$309,900
309 309-311 E Centre St, Shenandoah, PA 17976
Mixed one-, two-, and three-bedroom layouts with rear parking and leased apartments.
Property Size4,500 SF
Price / SF$68.87
Days on Market24
Property Features for 309 309-311 E Centre St
General Information
Standard status
Active
Size
4,500 SF
Total Parking Spaces
5
Units
Unit Mix
1 x 1BR, 3 x 2BR, 1 x 3BR
Multifamily Units
5
Building Details
Year Built
1920
Buildings
1
Listing Agency:
McDermott Real Estate
(215) 859-8393
Listed By:
Ralph Robert Marranzini · License #RS332464
Source:
Elkaimpropertygroup
Added: Aug 7
Changed: Aug 29
Last Checked: Aug 25 at 4:28AM
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 McDermott Real Estate
Investment Insights
Based on property information with market context.
This 4,500-square-foot apartment building, constructed in 1920, contains five residential units with a mix of one-bedroom, two-bedroom, and three-bedroom layouts. The third-floor apartment is currently configured with three bedrooms and has room for a potential fourth bedroom. The property is being sold as-is.
All apartments have leases and security deposits in place. Parking includes street spaces and a rear lot with room for 5 cars. The building is located at 309-311 E Centre St in Shenandoah, Pennsylvania, near Mr's T's Perogies factory.
All apartments have leases and security deposits in place. Parking includes street spaces and a rear lot with room for 5 cars. The building is located at 309-311 E Centre St in Shenandoah, Pennsylvania, near Mr's T's Perogies factory.
Key Highlights
- Five‑unit apartment building with 4,500 SF of total property size
- Unit mix includes 1 one‑bedroom, 3 two‑bedroom, and 1 three‑bedroom apartment
- Third‑floor unit has room to make it a 4 bedroom
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
$24,620
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
7.94%
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%
$492,400
$492.4K
Cap Rate 7%
$351,714
$351.7K
Cap Rate 9%
$273,556
$273.6K
Market Conditions
NOI Build-Up for 4,500 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
$47.5K $10.56/SF
− Vacancy
−$2.8K −$0.61/SF
EGI
$44.8K $9.95/SF
− OpEx
−$20.1K −$4.48/SF
NOI
$24.6K $5.47/SF
Area
Schuylkill County, PA
Vacancy
5.80%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
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%
$492,400
Cap Rate 7%
$351,714
Cap Rate 9%
$273,556
Alternative Uses
Best Use
Apartment 5plus
$351.7K
$307.8K – $410.3K
NOI $24,620 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$675.0K
$590.6K – $787.5K
NOI $47,250 @ 7.0% cap · market cap 15.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 17976, PA
5,933
Population
3,315
Households
1.8
Avg Household Size
42
Median Age
14%
College-Educated
83%
High-School Grad
7.6 sq mi
ZIP Area
781
Density / Sq Mi
$46,684
Median Household Income
$40,361
Median Earnings
$827
Median Rent
$47,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Mixed one-, two-, and three-bedroom layouts with rear parking and leased apartments.
Where is this apartment building located?
The property is located at 309 309-311 E Centre St Shenandoah, PA.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Five‑unit apartment building with 4,500 SF of total property size; Unit mix includes 1 one‑bedroom, 3 two‑bedroom, and 1 three‑bedroom apartment; Third‑floor unit has room to make it a 4 bedroom
