Restaurant and Short-Term Rental
5-7 North Duke Street Lancaster, PA 17602
5-7 North Duke Street, Lancaster, PA, 17602
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For Sale
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Operating restaurant with approved Air BNB use in a CB1 district near Penn Square and the county courthouse.
Property Size7,938 SF
Price / SF$173.22
Days on Market49
Property Features for 5-7 North Duke Street
General Information
- Standard status
- Active
- Size
- 7,938 SF
- Property subtype
- Retail, Multifamily, Mixed Use
Listing agency
U.S. Commercial Realty
(717) 735-6000
Listed by
Tom McDermott · License #PA AB050727L
Source
Crexi
Added: Jun 3 Updated: Jul 10 at 1:50PM Checked: Jul 21 at 5:01AM
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 U.S. Commercial Realty
Investment Insights
Based on property information with market context.
This property is currently operating as a restaurant and is positioned for flexibility with approved Air BNB use in the CB1 district. The offering supports an operator seeking a combination of food service activity and short-term lodging, depending on how the space is managed and permitted.
Located one block from Penn Square and the Lancaster Marriott and Convention Center, the property also sits across the street from the Lancaster County Courthouse. This close-in setting is well suited to serving visitors and daily activity generated by events, lodging demand, and courthouse traffic.
For buyers looking for a mixed-use approach, the combination of an active restaurant operation and Air BNB approval can support a practical hospitality-oriented business plan. Tenants or operators may also find the configuration useful if they are seeking a downtown presence near major civic and visitor destinations within the CB1 zoning framework.
Located one block from Penn Square and the Lancaster Marriott and Convention Center, the property also sits across the street from the Lancaster County Courthouse. This close-in setting is well suited to serving visitors and daily activity generated by events, lodging demand, and courthouse traffic.
For buyers looking for a mixed-use approach, the combination of an active restaurant operation and Air BNB approval can support a practical hospitality-oriented business plan. Tenants or operators may also find the configuration useful if they are seeking a downtown presence near major civic and visitor destinations within the CB1 zoning framework.
Key Highlights
- Operating Silantro Restaurant on‑site
- Approved for Air BNB use in the CB1 district
- Located one block from Penn Square and the Lancaster Marriott and Convention Center
Local Financial Insights For Apartment 5plus
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 | $142.9k | $18.00 |
| − Vacancy | −$714 | −$0.09 |
| EGI | $142.2k | $17.91 |
| − OpEx | −$64.0k | −$8.06 |
| NOI | $78.2k | $9.85 |
7,938 SF · lease $18.00/SF/yr · vacancy 0.50% · expense 45.00%
Alternative Uses
Best Use
Specialty Retail
$2.07M
$1.81M – $2.41M
NOI $144,797 @ 7.0% cap · market cap 10.53%
Second Best
Apartment 5plus
$1.12M
$977.4K – $1.30M
NOI $78,193 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$2.66M
$2.33M – $3.10M
NOI $186,205 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Operating restaurant with approved Air BNB use in a CB1 district near Penn Square and the county courthouse.
Where is this conventional restaurant located?
The property is located at 5-7 North Duke Street Lancaster, PA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Operating Silantro Restaurant on‑site; Approved for Air BNB use in the CB1 district; Located one block from Penn Square and the Lancaster Marriott and Convention Center
