Restaurant and Income
For Sale
Contact for pricing
32 W Southern Ave, South Williamsport, PA 17702
Former Chinese restaurant includes dining equipment and tables, with two upstairs residential units and alley access.
Property Size3,796 SF
Price / SF$89.57
Days on Market154
Property Features for 32 W Southern Ave
General Information
Standard status
Active
Size
3,796 SF
Class
C
Property subtype
Retail
Zoning
L-C
Investment Type
Owner/User
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Buildings
1
Stories
2
Units
2
Listing Agency:
BHHS Hodrick Realty
Listed By:
Amy Fessler · License #RS315312
(570) 419-1125
Source:
Crexi
Added: Apr 5
Changed: Aug 23
Last Checked: Sep 4 at 11:14AM
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 BHHS Hodrick Realty
Investment Insights
Based on property information with market context.
The property at 32 W Southern Ave is a mixed-use restaurant building configured with a main floor that has been used as a former Chinese restaurant. The sale is AS-IS and includes equipment, supplies, dining tables, and coolers. Additional space on the main level could be used for a large party dining area or office use, and the building also provides extensive storage and two additional coolers located out back. There is an alley access point to the rear, with parking available out back and along the side of the building.
The property also includes two residential units upstairs, with one unit currently leased at $900 per month. Gas heat services the building.
In addition to the restaurant layout and storage, the main floor has the potential to be remodeled, including the ability to expand into two large storage spaces for additional dining or office area, subject to buyer’s plans and permitting.
The property also includes two residential units upstairs, with one unit currently leased at $900 per month. Gas heat services the building.
In addition to the restaurant layout and storage, the main floor has the potential to be remodeled, including the ability to expand into two large storage spaces for additional dining or office area, subject to buyer’s plans and permitting.
Key Highlights
- Former Chinese restaurant in S. Williamsport with dining tables and equipment included (sold AS‑IS).
- Includes multiple coolers: dining area equipment plus 2 additional coolers out back.
- Large lot with parking out back and on the side of the building, with alley access out back.
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
$30,970
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
9.11%
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%
$619,400
$619.4K
Cap Rate 7%
$442,429
$442.4K
Cap Rate 9%
$344,111
$344.1K
Market Conditions
NOI Build-Up for 3,796 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
$47.8K $12.60/SF
− Vacancy
−$3.6K −$0.95/SF
EGI
$44.2K $11.66/SF
− OpEx
−$13.3K −$3.50/SF
NOI
$31.0K $8.16/SF
Area
Lycoming County, PA
Vacancy
7.50%
Lease Rate
$12.60 /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%
$619,400
Cap Rate 7%
$442,429
Cap Rate 9%
$344,111
Alternative Uses
Best Use
Specialty Retail
$699.1K
$611.8K – $815.7K
NOI $48,940 @ 7.0% cap · market cap 14.39%
Second Best
Multifamily LT 5
$442.4K
$387.1K – $516.2K
NOI $30,970 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$818.1K
$715.8K – $954.4K
NOI $57,264 @ 7.0% cap · market cap 16.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17702, PA
10,378
Population
4,533
Households
2.3
Avg Household Size
42
Median Age
23%
College-Educated
94%
High-School Grad
61.2 sq mi
ZIP Area
170
Density / Sq Mi
$70,514
Median Household Income
$41,228
Median Earnings
$935
Median Rent
$193,500
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?
Conventional restaurant - Former Chinese restaurant includes dining equipment and tables, with two upstairs residential units and alley access.
Where is this conventional restaurant located?
The property is located at 32 W Southern Ave South Williamsport, PA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Former Chinese restaurant in S. Williamsport with dining tables and equipment included (sold AS‑IS).; Includes multiple coolers: dining area equipment plus 2 additional coolers out back.; Large lot with parking out back and on the side of the building, with alley access out back.
