Former Convenience Store on Commercial
For Sale
Contact for pricing
4309 N George Street Extension, Manchester, PA 17345
3,900 SF former convenience store on 1.42 acre parcel.
Property Size3,900 SF
Lot Size1.42 Acres
Price / SF$280.77
Days on Market188
Property Features for 4309 N George Street Extension
General Information
Standard status
Active
Size
3,900 SF
Lot size
1.42 Acres
Property subtype
Retail
Building Details
Buildings
1
Listing Agency:
Landmark Commercial Realty
(717) 731-1990
Listed By:
Justin Shoemaker · License #PA RS225235L
Source:
Crexi
Added: Feb 5
Changed: Aug 8
Last Checked: Aug 12 at 6:51AM
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 Landmark Commercial Realty
Investment Insights
Based on property information with market context.
A 3,900 SF former convenience store is available on a 1.42-acre commercially zoned parcel along N George Street (Route 181) in the Manchester/York County retail corridor. The property offers visibility, frontage, and access, with existing utility infrastructure and site improvements. The site's commercial zoning supports a range of uses, enabling flexibility to meet current demand from service retail, food uses, specialty retail, and medical/consumer services. Proximity to I-83 and PA-30 provides regional connectivity for employees and customers, while the surrounding residential base drives consistent daily needs traffic. This asset is well-positioned for an owner-user repositioning, re-tenanting to retail/QSR/medical, or ground-up modernization while leveraging strong local traffic patterns and a growing suburban trade area.
Key Highlights
- Excellent visibility, frontage, and access on N George Street (Route 181) in a high‑traffic retail corridor.
- Commercially zoned 1.42‑acre parcel suitable for owner‑user repositioning, re‑tenanting (retail/QSR/medical), or ground‑up modernization.
- Existing utility infrastructure and site improvements reduce redevelopment costs and timelines.
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
$46,536
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
4.25%
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%
$930,720
$930.7K
Cap Rate 7%
$664,800
$664.8K
Cap Rate 9%
$517,067
$517.1K
Market Conditions
NOI Build-Up for 3,900 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
$70.2K $18.00/SF
− Vacancy
−$3.7K −$0.95/SF
EGI
$66.5K $17.05/SF
− OpEx
−$19.9K −$5.11/SF
NOI
$46.5K $11.93/SF
Area
York County, PA
Vacancy
5.30%
Lease Rate
$18.00 /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%
$930,720
Cap Rate 7%
$664,800
Cap Rate 9%
$517,067
Alternative Uses
Best Use
Retail
$664.8K
$581.7K – $775.6K
NOI $46,536 @ 7.0% cap · market cap 4.25%
Second Best
Specialty Retail
$346.6K
$303.3K – $404.4K
NOI $24,265 @ 7.0% cap · market cap 2.22%
Theoretical Best
Office A
$1.13M
$988.0K – $1.32M
NOI $79,043 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
129k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Groceries 27%
Dining 23%
Home Improvements & Furnishings 3%
Giant Food Store
Groceries
34,768 visits/mo
0.5 miles
McDonald's
Dining
21,465 visits/mo
0.2 miles
Sheetz
Shops & Services
20,475 visits/mo
0.1 miles
Dollar Tree
Shops & Services
13,132 visits/mo
0.4 miles
Roses Discount Store
Shops & Services
7,488 visits/mo
0.2 miles
Demographics for 17345, PA
8,122
Population
3,616
Households
2.2
Avg Household Size
42
Median Age
22%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
677
Density / Sq Mi
$83,556
Median Household Income
$48,333
Median Earnings
$1,150
Median Rent
$204,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - 3,900 SF former convenience store on 1.42 acre parcel.
Where is this grocery and convenience store located?
The property is located at 4309 N George Street Extension Manchester, PA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Excellent visibility, frontage, and access on N George Street (Route 181) in a high‑traffic retail corridor.; Commercially zoned 1.42‑acre parcel suitable for owner‑user repositioning, re‑tenanting (retail/QSR/medical), or ground‑up modernization.; Existing utility infrastructure and site improvements reduce redevelopment costs and timelines.
