Commercial Kitchen with Loading
New
For Sale
$399,900
347 N PLUM STREET, Lancaster, PA 17602
Two kitchen areas support food preparation, catering, and monthly rental use.
Property Size1,742 SF
Price / SF$229.56
Days on Market7
Property Features for 347 N PLUM STREET
General Information
Standard status
Active
Size
1,742 SF
Property subtype
Commercial
Building Details
Year Built
1925
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 393-0100
Listed By:
Mick Kalata · License #RS329543
(717) 824-6039
Source:
Cummingsrealtors
Added: Oct 26
Changed: Oct 31
Last Checked: Oct 30 at 4:44PM
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
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Investment Insights
Based on property information with market context.
This freestanding commercial kitchen in Lancaster includes separate front and rear kitchen areas. The front kitchen received new equipment, floor drains, and central air conditioning in 2017. The rear area has been used for catering preparation, food-truck prep, and monthly rentals. Other features include a loading area, two walk-in refrigerators, and an overhead vent hood system.
The property is on N Plum Street in downtown Lancaster, near Cork and Cap Hotel, Lancaster Brewing Company, Passenger on Plum Coffee, and The Science Factory. Access to major shopping centers, colleges, schools, and highways is noted.
The property is on N Plum Street in downtown Lancaster, near Cork and Cap Hotel, Lancaster Brewing Company, Passenger on Plum Coffee, and The Science Factory. Access to major shopping centers, colleges, schools, and highways is noted.
Key Highlights
- Two kitchen areas, including a front kitchen upgraded in 2017
- Two walk‑in refrigerators and an overhead vent hood system
- Loading area for deliveries and kitchen operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,776
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,520
$635.5K
Cap Rate 7%
$453,943
$453.9K
Cap Rate 9%
$353,067
$353.1K
Market Conditions
NOI Build-Up for 1,742 SF
Gross rent
$45.4K $26.04/SF
− Vacancy
−$3.0K −$1.72/SF
EGI
$42.4K $24.32/SF
− OpEx
−$10.6K −$6.08/SF
NOI
$31.8K $18.24/SF
Area
Lancaster County, PA
Vacancy
6.60%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,520
Cap Rate 7%
$453,943
Cap Rate 9%
$353,067
Alternative Uses
Best Use
Specialty Retail
$453.9K
$397.2K – $529.6K
NOI $31,776 @ 7.0% cap · market cap 7.95%
Second Best
Industrial
$138.6K
$121.3K – $161.7K
NOI $9,702 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$583.8K
$510.8K – $681.1K
NOI $40,863 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,047
Businesses Nearby
67k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 34%
Groceries 17%
McDonald's
Dining
31,675 visits/mo
0.3 miles
C-Town Supermarkets
Groceries
9,025 visits/mo
0.4 miles
Turkey Hill Minit Market
Shops & Services
8,115 visits/mo
0.2 miles
Family Dollar
Shops & Services
7,630 visits/mo
0.3 miles
AutoZone
Shops & Services
4,464 visits/mo
0.5 miles
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
Median Home Value
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Commercial kitchen - Two kitchen areas support food preparation, catering, and monthly rental use.
Where is this commercial kitchen located?
The property is located at 347 N PLUM STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two kitchen areas, including a front kitchen upgraded in 2017; Two walk‑in refrigerators and an overhead vent hood system; Loading area for deliveries and kitchen operations
