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    Mixed-Use Live-Work Duplex Title is generated by Realmo AI

    361 East Ross Street, Lancaster, PA 17602

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    For Sale
    $350,000

    Two-unit property with an operating salon downstairs and a multi-bedroom residence above, offering turnkey income and occupancy options.

    Type:Multi-Family / Fee Simple
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 2:56 am

    Property Features for 361 East Ross Street

    General Information

    Standard status
    Active
    Property subtype
    Multi-Family / Fee Simple

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    John Zunner

    Listing agent John Zunner License #RS341773

    Listing office RE/MAX Evolved

    Listing date Jun 2, 2026

    Source Compass

    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 RE/MAX Evolved

    HighLights

    • 2‑unit property in Lancaster with an operating salon on the first floor
    • Upper‑level residence offers 3 bedrooms and 2 full bathrooms across two floors
    • Replacement windows throughout, newer gas boiler, and central air conditioning on the first floor
    • Brand‑new roof on both the house and the garage
    • 2‑car garage plus ample parking and storage
    • Move‑in ready two‑unit with commercial salon and residential layout for owner‑occupancy or rental income

    Overview

    This well maintained, tastefully updated 2-unit property combines first-floor commercial use with an upper-level residence. The first floor is a fully operational salon with central air conditioning, supported by replacement windows throughout and a newer gas boiler for reliable heating. The upper portion includes a spacious 3-bedroom, 2-bathroom apartment spread across two floors, suited to owner-occupancy or leasing.

    The property includes a 2-car garage along with ample parking and storage, and it has been updated with a brand-new roof on both the house and garage. The layout is designed for day-to-day separation between commercial and residential spaces while keeping the overall building move-in ready.

    For tenants, buyers, or owner-operators seeking a live-work setup, the salon space provides an established commercial footprint with street visibility, while the apartment offers independent home space above. For investors, the property supports both commercial and residential tenancy within the same building, supported by recent improvements intended to reduce near-term maintenance and operating uncertainty.
    Location Intelligence

    Current Use by Public Records

    JLS Barbershop Barber Shop

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.2997
    Latitude
    40.0521

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    FAQs

    What type of property is this?
    Duplex - Two-unit property with an operating salon downstairs and a multi-bedroom residence above, offering turnkey income and occupancy options.
    Where is this duplex located?
    The property is located at 361 East Ross Street Lancaster, PA.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: 2‑unit property in Lancaster with an operating salon on the first floor; Upper‑level residence offers 3 bedrooms and 2 full bathrooms across two floors; Replacement windows throughout, newer gas boiler, and central air conditioning on the first floor
    (717) 330-0308
    We can help!
    Listing Contact
    John Zunner
    Real Estate License ID: RS341773
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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