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$84.27
Days on Market200
Property Features for 32 W Southern Ave
General Information
Standard status
Active
Size
3,796 SF
Class
C
Property subtype
Retail, Hospitality, Mixed Use
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: Oct 4
Last Checked: Oct 20 at 6:35PM
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
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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 / Yr
$28,720
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,400
$574.4K
Cap Rate 7%
$410,286
$410.3K
Cap Rate 9%
$319,111
$319.1K
Market Conditions
NOI Build-Up for 3,796 SF
Gross rent
$56.0K $14.76/SF
− Vacancy
−$3.8K −$1.00/SF
EGI
$52.2K $13.76/SF
− OpEx
−$23.5K −$6.19/SF
NOI
$28.7K $7.57/SF
Area
Lycoming County, PA
Vacancy
6.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,400
Cap Rate 7%
$410,286
Cap Rate 9%
$319,111
Alternative Uses
Best Use
Specialty Retail
$699.1K
$611.8K – $815.7K
NOI $48,940 @ 7.0% cap · market cap 15.30%
Second Best
Multifamily LT 5
$442.4K
$387.1K – $516.2K
NOI $30,970 @ 7.0% cap · market cap 9.68%
Theoretical Best
Office A
$818.1K
$715.8K – $954.4K
NOI $57,264 @ 7.0% cap · market cap 17.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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 $319,900.
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.
