Two-Story Office Building with
39 E CHESTNUT ST, Lancaster, PA 17602
For Sale
$5,500,000
Three tenants occupy the property, with separately accessed space available for owner occupancy or lease.
Property Size34,111 SF
Price / SF$161.24
Days on Market24
Property Features for 39 E CHESTNUT ST
General Information
Standard status
Size
Total Parking Spaces
Elevators
Additional Details
Cap Rate
Road Access
Sprinkler System
Tenant in Place
Amenities
separately controlled HVAC
robust data/IT infrastructure
monitored fire alarm system
Building Details
Buildings
Stories
Tenancy
Owner Occupied
Abandoned
Listing Agency:
PPM Real Estate, Inc.
Listed By:
Corinn E. Kirchner · License #RM425642
(717) 394-3374
Source:
Lakehomesbyliz
Added: Oct 16
Changed: Nov 7
Last Checked: Nov 8 at 5:18AM
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 PPM Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This two-story office building contains ±34,111 gross square feet, including ±14,952 square feet available for a separate occupant. The available area spans portions of the first floor and much of the second, with a dedicated Duke Street entrance and separate address at 200 N Duke Street. Building features include elevator service to all levels, separately controlled HVAC, data and IT infrastructure, and a monitored fire alarm with sprinkler protection. A private garage provides 44 parking spaces, 20 of them available for the vacant space. Three tenants currently occupy the property alongside the available area.
The building extends between Duke Street and Christian Street and sits at a signalized intersection in Lancaster’s Central Business District. Chestnut Street carries 8,000+ VPD and Duke Street carries 9,000+ VPD. Penn Square is 2.5 blocks away, with Central Market, the courthouse, restaurants, and entertainment within walking distance. The property has a projected 9.28% CAP rate at full occupancy and a current 5.48% CAP rate with vacancy. It was converted into a condominium but operates under one owner/landlord.
The building extends between Duke Street and Christian Street and sits at a signalized intersection in Lancaster’s Central Business District. Chestnut Street carries 8,000+ VPD and Duke Street carries 9,000+ VPD. Penn Square is 2.5 blocks away, with Central Market, the courthouse, restaurants, and entertainment within walking distance. The property has a projected 9.28% CAP rate at full occupancy and a current 5.48% CAP rate with vacancy. It was converted into a condominium but operates under one owner/landlord.
Key Highlights
- ±14,952 square feet available for owner occupancy or lease within a ±34,111‑square‑foot building
- Three existing tenants; projected CAP rate of 9.28% at full occupancy and current CAP rate of 5.48% with vacancy
- 44‑space private parking garage, with 20 spaces available for the vacant areas
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,872
Businesses Nearby
Explore this area
Business Placement
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
$250,600
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Lancaster County, PA
Properties on Market for Office buildings in Lancaster County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Three tenants occupy the property, with separately accessed space available for owner occupancy or lease.
Where is this office building located?
The property is located at 39 E CHESTNUT ST Lancaster, PA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: ±14,952 square feet available for owner occupancy or lease within a ±34,111‑square‑foot building; Three existing tenants; projected CAP rate of 9.28% at full occupancy and current CAP rate of 5.48% with vacancy; 44‑space private parking garage, with 20 spaces available for the vacant areas
