Brick Triplex with Off-Street
For Sale
$325,000
43 W Main St, Annville, PA 17003
Two vacant units are move-in ready, while the third has a long-term month-to-month tenant.
Property Size2,643 SF
Lot Size0.23 Acres
Price / SF$122.97
Days on Market8
Property Features for 43 W Main St
General Information
Standard status
Active
Size
2,643 SF
Lot size
0.23 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA, 1 x 1BR
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,929
Amenities
air conditioning
off-street parking
Building Details
Buildings
1
Construction
brick
Listing Agency:
Kingsway Realty - Ephrata
(717) 733-4777
Listed By:
Keith Snyder · License #RS303415
(717) 376-4029
Source:
Exprealty
Added: Aug 27
Changed: Sep 3
Last Checked: Sep 3 at 2:22AM
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 Kingsway Realty - Ephrata
Investment Insights
Based on property information with market context.
This brick triplex contains 2,643 square feet on a level 0.23-acre lot with off-street parking. The property includes one occupied two-story unit with three bedrooms, one bath, hardwood floors, a kitchen, dining area, living room, and laundry hookup. Two additional one-bedroom units are vacant and ready for occupancy; one has a private deck and includes a washer and dryer, while the other is served by natural gas heat. All units have wall-mounted A/C, and the building features replacement windows, select new exterior doors, updated fascia and gutters, and stainless steel chimney liners.
Natural gas hookups are already in place for potential connection of individual meters to the other units. The landlord pays water, sewer, and trash, while tenants pay electric and heat. The property is within the Annville-Cleona School District and walking distance of local shops and LVC, with access to Hershey Med, Lebanon VA, and Fort Indiantown Gap.
Natural gas hookups are already in place for potential connection of individual meters to the other units. The landlord pays water, sewer, and trash, while tenants pay electric and heat. The property is within the Annville-Cleona School District and walking distance of local shops and LVC, with access to Hershey Med, Lebanon VA, and Fort Indiantown Gap.
Key Highlights
- 2,643‑square‑foot brick triplex on a level 0.23‑acre lot
- Unit mix includes one 3‑bedroom unit and two 1‑bedroom units
- Two vacant units are move‑in ready; one includes a private deck and washer/dryer
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
$23,617
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
7.27%
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%
$472,340
$472.3K
Cap Rate 7%
$337,386
$337.4K
Cap Rate 9%
$262,411
$262.4K
Market Conditions
NOI Build-Up for 2,643 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
$36.5K $13.80/SF
− Vacancy
−$2.7K −$1.04/SF
EGI
$33.7K $12.77/SF
− OpEx
−$10.1K −$3.83/SF
NOI
$23.6K $8.94/SF
Area
Lebanon County, PA
Vacancy
7.50%
Lease Rate
$13.80 /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%
$472,340
Cap Rate 7%
$337,386
Cap Rate 9%
$262,411
Alternative Uses
Best Use
Multifamily LT 5
$337.4K
$295.2K – $393.6K
NOI $23,617 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$313.5K
$274.4K – $365.8K
NOI $21,948 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$620.4K
$542.8K – $723.8K
NOI $43,426 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 17003, PA
12,329
Population
4,507
Households
2.7
Avg Household Size
40
Median Age
33%
College-Educated
93%
High-School Grad
42.7 sq mi
ZIP Area
289
Density / Sq Mi
$87,350
Median Household Income
$36,394
Median Earnings
$1,088
Median Rent
$242,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Two vacant units are move-in ready, while the third has a long-term month-to-month tenant.
Where is this triplex located?
The property is located at 43 W Main St Annville, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,643‑square‑foot brick triplex on a level 0.23‑acre lot; Unit mix includes one 3‑bedroom unit and two 1‑bedroom units; Two vacant units are move‑in ready; one includes a private deck and washer/dryer
