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Versatile Corner Property in Shillington

401 West Lancaster Avenue Shillington, PA 19607

401 West Lancaster Avenue, Shillington, PA, 19607
$449,900
For Sale
Claim this Listing
$449,900

Charming mixed-use property with income potential in Shillington.

Property Size1,950 SF
Price / SF$230.72
AddedMay 6
Days on Market71
Last RefreshMay 27 at 12:49 pm

Property Features for 401 West Lancaster Avenue

General Information

Standard status
Active
Size
1,950 SF
Property subtype
Multi-Family / Fee Simple

Building Details

Year Built
1929

Listing office Springer Realty Group

Listing date May 6, 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 Springer Realty Group


Investment Insights

Based on property information with market context.

This versatile corner property, located in the heart of Shillington, offers a blend of timeless charm and multiple usage possibilities. The property features a historic brick facade with classic shutters, graceful columns, and dual balconies. The main house includes a light-filled, eat-in kitchen with white cabinetry, original hardwood floors in the formal dining room and spacious living room, and a brick gas fireplace. French doors lead to a bright home office with a separate exterior entrance, suitable for a small business due to limited commercial zoning. Upstairs, there are four bedrooms and a full bath, plus a remodeled walk-up attic with an additional bedroom featuring 11-foot ceilings, new lighting, new carpeting, and refinished hardwood floors. Multiple heating sources, including gas radiant heat, mini-splits, and the gas fireplace, ensure year-round comfort. A private stone courtyard and a brick two-car detached garage with a private driveway enhance the property. Additionally, there is a separate three-bedroom, one-bath rear apartment with its own kitchen and living area, updated with new LVP flooring, new doors, and fresh paint. The property is located near the community pool, local parks, shopping, and schools, and is across from Governor Mifflin High School. The property's size is 1950 square feet. The property is fully vacant and includes a lighted double-sided sign for business. The property is located in the Shillington Boro area, within the Governor Mifflin School District.

Key Highlights

  • Versatile property with income‑generating potential: main house, basement apartment, and separate office space.
  • Prime location in the heart of Shillington, across from Governor Mifflin High School, and within walking distance to amenities.
  • Includes a separate, updated three‑bedroom apartment ideal for rental income.

Local Financial Insights For Mixed Use

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $35.1k $18.00
− Vacancy −$4.2k −$2.16
EGI $30.9k $15.84
− OpEx −$11.6k −$5.94
NOI $19.3k $9.90
1,950 SF · lease $18.00/SF/yr · vacancy 12.00% · expense 37.50%

Alternative Uses

Best Use
Mixed Use
$275.8K
$241.3K – $321.8K (±1% cap)
NOI $19,305 @ 7.0% cap · market cap 4.29%
Second Best
Multifamily LT 5
$274.6K
$240.3K – $320.4K (±1% cap)
NOI $19,224 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$320.1K
$280.1K – $373.5K (±1% cap)
NOI $22,408 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Real Estate Agency Electrical Service Restaurant Grocery & Convenience Store (Bike/Boat/Book/etc) Store Food Market Skin Care Clinic (Bike/Boat/Book/etc) Store Garden Center Daycare Center

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

FAQs

What type of property is this?
Mixed-use property - Charming mixed-use property with income potential in Shillington.
Where is this mixed-use property located?
The property is located at 401 West Lancaster Avenue Shillington, PA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Versatile property with income‑generating potential: main house, basement apartment, and separate office space.; Prime location in the heart of Shillington, across from Governor Mifflin High School, and within walking distance to amenities.; Includes a separate, updated three‑bedroom apartment ideal for rental income.
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