Building Details

Year built 1960

Building materials Block

Listing Agency: EXP Realty, LLC p***@exprealty.net Show Phone

Listed By: Eugene Prentice · License #RS357211 Show Phone

Added: Jul 1 Changed: Sep 16 Last Checked: Sep 23 at 11:06AM

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MLS# PADA2061628

Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This grocery and convenience store includes the underlying real estate and business assets. The approximately 1,700-square-foot building occupies a 0.09-acre lot and is configured for neighborhood retail operations, with a customer sales area, service counter, seating, storage, rear storage space, private office and computer room, utility room, sink and wash area, and private bathroom. The business offers clothing, food, snacks, beverages, tobacco products, ATMs, lottery tickets, Pennsylvania Skill games, and U-Haul services.

The property at 402 Willow Street in Highspire, Pennsylvania, provides nine exterior parking spaces, including designated special-needs parking. The block building was constructed in 1960 and has central air conditioning, forced-air heating, zoned heating, a parking lot, and secured parking features.

Key Highlights

• Approximately 1,700 square feet on a 0.09‑acre lot
• Sale includes the real estate and business assets
• Retail operation offers food, beverages, tobacco products, clothing, lottery tickets, and other services

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

$17,047

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

4.87%

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%

$340,940 $340.9K

Cap Rate 7%

$243,529 $243.5K

Cap Rate 9%

$189,411 $189.4K

Market Conditions

NOI Build-Up for 1,700 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

$25.5K $15.00/SF

− Vacancy

−$1.1K −$0.68/SF

EGI

$24.4K $14.33/SF

− OpEx

−$7.3K −$4.30/SF

NOI

$17.0K $10.03/SF

Area

Dauphin County, PA

Vacancy

4.50%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

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%

$340,940

Cap Rate 7%

$243,529

Cap Rate 9%

$189,411

Alternative Uses

Best Use

Specialty Retail

$3.13M

$2.74M – $3.65M (±1% cap)

NOI $219,173 @ 7.0% cap · market cap 62.62%

Second Best

Retail

$243.5K

$213.1K – $284.1K (±1% cap)

NOI $17,047 @ 7.0% cap · market cap 4.87%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Grocery and convenience stores

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Pharmacy Hair Salon Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

196

Businesses Nearby

9k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

8,976 visits/mo 0.2 miles

Demographics for 17034, PA

2,765

Population

1,553

Households

1.8

Avg Household Size

40

Median Age

20%

College-Educated

92%

High-School Grad

0.8 sq mi

ZIP Area

3,456

Density / Sq Mi

$51,717

Median Household Income

$41,868

Median Earnings

$993

Median Rent

$120,100

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Established retail property with business assets, customer-facing sales space, storage, offices, and on-site parking.

Where is this grocery and convenience store located?

The property is located at 402 WILLOW Street Highspire, 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: Approximately 1,700 square feet on a 0.09‑acre lot; Sale includes the real estate and business assets; Retail operation offers food, beverages, tobacco products, clothing, lottery tickets, and other services