Mixed-Use Building With
For Sale
$429,900
504 BALTIMORE Street, Gettysburg, PA 17325
Multi-Family, GETTYSBURG, PA
Property Size2,968 SF
Lot Size0.24 Acres
Price / SF$144.85
Days on Market783
Property Features for 504 BALTIMORE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
5
Parking features
Parking Lot
Interior features
2nd Kitchen, Attic, Additional Stairway, Bathroom - Stall Shower, Bathroom - Tub Shower, Carpet, Floor Plan - Traditional
Appliances
Built-In Range, Refrigerator
Subdivision
GETTYSBURG
High school
GETTYSBURG AREA
Elementary school district
GETTYSBURG AREA
Middle school district
GETTYSBURG AREA
High school district
GETTYSBURG AREA
Standard status
Active
Size
2,968 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Annual Amount
4908
Utilities
Heating system
Electric (Heating), Other (Heating), Baseboard
Cooling system
Window Unit(s), Central Air
Amenities
glass display case
check-out counter
full bath
natural gas
central air
victorian bump-out display windows
updated flooring
rear storage room
full basement
separately metered electric
private paved parking lot
Building Details
Year built
1900
Number of units
3
Building materials
Vinyl Siding
Architectural style
Colonial
Listing Agency:
RE/MAX of Gettysburg
(717) 338-0881
Listed By:
Alycia N Hays · License #RS293391
(717) 752-5697
Added: Jul 20, 2024
Changed: Sep 5
Last Checked: Sep 10 at 11:06AM
MLS# PAAD2014010
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 504 Baltimore Street in Gettysburg, this Colonial-style mixed-use property combines a street-level storefront with two residential units above. The commercial space measures 1,450 square feet and includes display windows, a checkout counter, full bath, natural gas, central air, and updated flooring. The second floor contains a two-bedroom apartment and a one-bedroom efficiency, each with a full bath and kitchen appliances.
The building totals 2,968 square feet on a 0.24-acre parcel and includes a full basement, rear storage room, attic, and separately metered electric. A private paved parking area provides five spaces, with a dedicated driveway entrance. Vinyl siding and architectural shingles installed in 2021 are also included among the property improvements. The storefront is leased for a two-year term, the two-bedroom unit is occupied month to month, and the efficiency has a one-year lease.
The building totals 2,968 square feet on a 0.24-acre parcel and includes a full basement, rear storage room, attic, and separately metered electric. A private paved parking area provides five spaces, with a dedicated driveway entrance. Vinyl siding and architectural shingles installed in 2021 are also included among the property improvements. The storefront is leased for a two-year term, the two-bedroom unit is occupied month to month, and the efficiency has a one-year lease.
Key Highlights
- 2,968‑square‑foot mixed‑use building on a 0.24‑acre lot
- 1,450‑square‑foot storefront with display windows, checkout counter, full bath, and central air
- Two upstairs apartments: one 2‑bedroom unit and one 1‑bedroom efficiency
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
$30,719
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
7.15%
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%
$614,380
$614.4K
Cap Rate 7%
$438,843
$438.8K
Cap Rate 9%
$341,322
$341.3K
Market Conditions
NOI Build-Up for 2,968 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
$53.4K $18.00/SF
− Vacancy
−$4.3K −$1.44/SF
EGI
$49.2K $16.56/SF
− OpEx
−$18.4K −$6.21/SF
NOI
$30.7K $10.35/SF
Area
Adams County, PA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$614,380
Cap Rate 7%
$438,843
Cap Rate 9%
$341,322
Alternative Uses
Best Use
Mixed Use
$438.8K
$384.0K – $512.0K
NOI $30,719 @ 7.0% cap · market cap 7.15%
Second Best
Retail
$425.2K
$372.0K – $496.0K
NOI $29,762 @ 7.0% cap · market cap 6.92%
Theoretical Best
Specialty Retail
$546.6K
$478.3K – $637.8K
NOI $38,265 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,689
Businesses Nearby
Explore this area
Business Placement
Demographics for 17325, PA
27,879
Population
12,021
Households
2.3
Avg Household Size
45
Median Age
34%
College-Educated
92%
High-School Grad
126.0 sq mi
ZIP Area
221
Density / Sq Mi
$79,351
Median Household Income
$32,633
Median Earnings
$956
Median Rent
$278,800
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail space and two upstairs apartments provide a combination of commercial and residential occupancy.
Where is this mixed-use property located?
The property is located at 504 BALTIMORE Street Gettysburg, PA.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: 2,968‑square‑foot mixed‑use building on a 0.24‑acre lot; 1,450‑square‑foot storefront with display windows, checkout counter, full bath, and central air; Two upstairs apartments: one 2‑bedroom unit and one 1‑bedroom efficiency
