Restaurant and Bar with Retail
For Sale
Contact for pricing
503-505 Washington Blvd, Williamsport, PA 17701
Combined restaurant, bar, and retail operation with two kitchens, event space, apartments, equipment, and furnishings.
Property Size8,921 SF
Price / SF$151.33
Days on Market148
Property Features for 503-505 Washington Blvd
General Information
Standard status
Active
Size
8,921 SF
Class
B
Property subtype
Business for Sale, Hospitality
Zoning
CC-Commercial
Investment Type
Owner/User
Restaurant
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Amenities
Large Bar area
2 Dining rooms
Banquet/Party Room
additional bar
3 public restrooms
2 Kitchens
storage
6 pack store
takeout area
small eat in area
2 large cooler sections
3 Bedroom Apartment
Small efficiency apartment
Building Details
Year Built
1976
Buildings
2
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
BHHS Hodrick Realty
(570) 419-1125
Listed By:
Amy Fessler · License #RS315312
Source:
Crexi
Added: Apr 5
Changed: Aug 30
Last Checked: Aug 30 at 7:50PM
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 BHHS Hodrick Realty
Investment Insights
Based on property information with market context.
This 8,921-square-foot restaurant property includes a bar, two dining rooms, a banquet and party room with an additional bar, three public restrooms, and two kitchens with storage. The sale includes the operating business, liquor license, equipment, and furnishings. A takeout area and six-pack store include a small dining area and two large cooler sections. The property also contains a 1,300-square-foot, three-bedroom apartment with a full bath that is currently used for office and storage space, plus a one-room efficiency apartment with a bath that is also used for storage.
The separate retail building at 503 is occupied by a retail tenant and measures 4,584 square feet. Ample parking is available, and the property is zoned CC-Commercial. Built in 1976, the combined offering includes restaurant, bar, and retail improvements at 503-505 Washington Blvd in Williamsport, Pennsylvania.
The separate retail building at 503 is occupied by a retail tenant and measures 4,584 square feet. Ample parking is available, and the property is zoned CC-Commercial. Built in 1976, the combined offering includes restaurant, bar, and retail improvements at 503-505 Washington Blvd in Williamsport, Pennsylvania.
Key Highlights
- 8,921 SF restaurant, bar, and retail property at 503‑505 Washington Blvd
- Restaurant improvements include two dining rooms, banquet/party room, three public restrooms, and two kitchens
- Sale includes the operating business, liquor license, equipment, and furnishings
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
$115,014
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
8.52%
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%
$2,300,280
$2.3M
Cap Rate 7%
$1,643,057
$1.6M
Cap Rate 9%
$1,277,933
$1.3M
Market Conditions
NOI Build-Up for 8,921 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
$160.6K $18.00/SF
− Vacancy
−$7.2K −$0.81/SF
EGI
$153.4K $17.19/SF
− OpEx
−$38.3K −$4.30/SF
NOI
$115.0K $12.89/SF
Area
Lycoming County, PA
Vacancy
4.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,300,280
Cap Rate 7%
$1,643,057
Cap Rate 9%
$1,277,933
Alternative Uses
Best Use
Specialty Retail
$1.64M
$1.44M – $1.92M
NOI $115,014 @ 7.0% cap · market cap 8.52%
Second Best
Retail
$1.15M
$1.01M – $1.34M
NOI $80,482 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,577 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,578
Businesses Nearby
72k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 31%
Beauty & Spa 1%
Starbucks
Dining
20,747 visits/mo
0.4 miles
Panera Bread
Dining
14,145 visits/mo
0.3 miles
Dollar General
Shops & Services
10,195 visits/mo
0.1 miles
Burger King
Dining
8,431 visits/mo
0.2 miles
Turkey Hill Minit Market
Shops & Services
8,071 visits/mo
0.3 miles
Demographics for 17701, PA
43,197
Population
20,891
Households
2.1
Avg Household Size
38
Median Age
28%
College-Educated
91%
High-School Grad
98.0 sq mi
ZIP Area
441
Density / Sq Mi
$52,770
Median Household Income
$33,643
Median Earnings
$869
Median Rent
$176,200
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?
Conventional restaurant - Combined restaurant, bar, and retail operation with two kitchens, event space, apartments, equipment, and furnishings.
Where is this conventional restaurant located?
The property is located at 503-505 Washington Blvd Williamsport, PA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 8,921 SF restaurant, bar, and retail property at 503‑505 Washington Blvd; Restaurant improvements include two dining rooms, banquet/party room, three public restrooms, and two kitchens; Sale includes the operating business, liquor license, equipment, and furnishings
