Restaurant and Short-Term Rental
For Sale
Contact for pricing
Pending
5-7 North Duke Street, Lancaster, PA 17602
Operating restaurant with approved Air BNB use in a CB1 district near Penn Square and the county courthouse.
Property Size7,938 SF
Days on Market140
Property Features for 5-7 North Duke Street
General Information
Standard status
Pending
Size
7,938 SF
Property subtype
Retail, Multifamily, Mixed Use
Zoning
CB1 - Central Business Core
Additional Details
Business Included
Yes
Building Details
Stories
3
Units
6
Listing Agency:
U.S. Commercial Realty
Listed By:
Tom McDermott · License #PA AB050727L
(717) 735-6000
Source:
Crexi
Added: Jun 3
Changed: Oct 7
Last Checked: Oct 19 at 4:54AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,193
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,563,860
$1.6M
Cap Rate 7%
$1,117,043
$1.1M
Cap Rate 9%
$868,811
$868.8K
Market Conditions
NOI Build-Up for 7,938 SF
Gross rent
$142.9K $18.00/SF
− Vacancy
−$714 −$0.09/SF
EGI
$142.2K $17.91/SF
− OpEx
−$64.0K −$8.06/SF
NOI
$78.2K $9.85/SF
Area
Lancaster County, PA
Vacancy
0.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,563,860
Cap Rate 7%
$1,117,043
Cap Rate 9%
$868,811
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 authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,744
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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
