Historic Restaurant and
New
For Sale
Contact for pricing
3480 York Haven Road, Manchester, PA 17345
Sale includes the R liquor license, FF&E, trade name, recipes, website, and established restaurant assets.
Property Size9,362 SF
Lot Size3.56 Acres
Price / SF$133.52
Days on Market4
Property Features for 3480 York Haven Road
General Information
Standard status
Active
Size
9,362 SF
Lot size
3.56 Acres
Property subtype
Retail, Mixed Use, Business for Sale
Financials
Asking Price
$1,250,000
Business Included
Yes
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Amenities
second-floor apartment
four third-floor rental rooms
multiple garage/storage bays
Building Details
Buildings
1
Listing Agency:
TRUE Commercial Real Estate, LLC
Listed By:
Benjamin Chiaro · License #PA
(717) 850-8783
Source:
Crexi
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 10 at 8:30AM
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 TRUE Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
The Conewago Inn combines an operating restaurant and bar with approximately 9,362± SF of improvements on 3.56± acres. Interior features include multiple dining areas, an all-season dining room with retractable windows, a large bar with pool table, and a commercial kitchen equipped with a cooking line, hood, convection oven, grill, griddle, six-burner range, fryers, refrigeration, and multiple walk-in refrigerators. The property also includes a second-floor apartment, four third-floor rental rooms, multiple garage and storage bays, and paved and gravel parking.
Located at 3480 York Haven Road in Manchester, Pennsylvania, the sale includes the real estate, “R” liquor license, FF&E, trade name, recipes, website, phone number, intellectual property, and goodwill. The roof was updated in 2025, and the property retains a log-cabin setting associated with its historic character.
Located at 3480 York Haven Road in Manchester, Pennsylvania, the sale includes the real estate, “R” liquor license, FF&E, trade name, recipes, website, phone number, intellectual property, and goodwill. The roof was updated in 2025, and the property retains a log-cabin setting associated with its historic character.
Key Highlights
- Approximately 9,362± SF on 3.56± acres
- Sale includes the real estate, “R” liquor license, FF&E, trade name, recipes, website, and intellectual property
- Commercial kitchen with cooking line, hood, convection oven, grill, griddle, six‑burner range, fryers, and walk‑in refrigerators
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
$96,897
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
7.75%
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%
$1,937,940
$1.9M
Cap Rate 7%
$1,384,243
$1.4M
Cap Rate 9%
$1,076,633
$1.1M
Market Conditions
NOI Build-Up for 9,362 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
$168.5K $18.00/SF
− Vacancy
−$13.5K −$1.44/SF
EGI
$155.0K $16.56/SF
− OpEx
−$58.1K −$6.21/SF
NOI
$96.9K $10.35/SF
Area
York County, PA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,937,940
Cap Rate 7%
$1,384,243
Cap Rate 9%
$1,076,633
Alternative Uses
Best Use
Mixed Use
$1.38M
$1.21M – $1.61M
NOI $96,897 @ 7.0% cap · market cap 7.75%
Second Best
Specialty Retail
$832.1K
$728.1K – $970.8K
NOI $58,248 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,744 @ 7.0% cap · market cap 15.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 17345, PA
8,122
Population
3,616
Households
2.2
Avg Household Size
42
Median Age
22%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
677
Density / Sq Mi
$83,556
Median Household Income
$48,333
Median Earnings
$1,150
Median Rent
$204,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Sale includes the R liquor license, FF&E, trade name, recipes, website, and established restaurant assets.
Where is this conventional restaurant located?
The property is located at 3480 York Haven Road Manchester, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Approximately 9,362± SF on 3.56± acres; Sale includes the real estate, “R” liquor license, FF&E, trade name, recipes, website, and intellectual property; Commercial kitchen with cooking line, hood, convection oven, grill, griddle, six‑burner range, fryers, and walk‑in refrigerators
