Mixed-Use Retail with
For Sale
$429,900
504 BALTIMORE Street, Gettysburg, PA 17325
MULTI_FAMILY - Colonial - GETTYSBURG, PA
Property Size2,968 SF
Lot Size0.24 Acres
Price / SF$144.85
Days on Market774
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
Baseboard, Other (Heating), Electric (Heating)
Cooling system
Window Unit(s), Central Air
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: Jul 13
Last Checked: Sep 1 at 12:06PM
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.
This mixed-use property combines a street-level storefront with two apartments on the second floor. The storefront includes a glass display case, check-out counter, full bath, natural gas service, central air, Victorian bump-out display windows, and updated flooring, and is currently rented on a 2-year lease. Upstairs, Unit #2 offers two bedrooms, a full bath, a living room, dining area, and a kitchen with appliances, currently on a month-to-month lease. Unit #3 is a one-bedroom efficiency with a full bath and a kitchen with appliances, currently on a 1-year lease. Additional improvements include a rear storage room, a full basement, and separately metered electric.
Set on a large lot with a rear yard and a private paved parking area with 5 spaces, the driveway entrance includes its own red light for ingress/egress.
The exterior features brand-new (2021) 35-year architectural shingles and vinyl siding, supporting long-term, low-maintenance ownership.
Set on a large lot with a rear yard and a private paved parking area with 5 spaces, the driveway entrance includes its own red light for ingress/egress.
The exterior features brand-new (2021) 35-year architectural shingles and vinyl siding, supporting long-term, low-maintenance ownership.
Key Highlights
- Colonial‑style landmark building in Historic Downtown Gettysburg Tourist District with 1,450 SF storefront
- Two upper apartments: Unit #2 has 2 bedrooms and a full bath; Unit #3 is a 1‑bedroom efficiency with full bath
- Storefront includes glass display case, check‑out counter, and full bath; natural gas service and central air
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
$29,762
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
6.92%
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%
$595,240
$595.2K
Cap Rate 7%
$425,171
$425.2K
Cap Rate 9%
$330,689
$330.7K
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
$44.5K $15.00/SF
− Vacancy
−$2.0K −$0.68/SF
EGI
$42.5K $14.33/SF
− OpEx
−$12.8K −$4.30/SF
NOI
$29.8K $10.03/SF
Area
Adams County, PA
Vacancy
4.50%
Lease Rate
$15.00 /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%
$595,240
Cap Rate 7%
$425,171
Cap Rate 9%
$330,689
Alternative Uses
Best Use
Retail
$425.2K
$372.0K – $496.0K
NOI $29,762 @ 7.0% cap · market cap 6.92%
Second Best
Multifamily LT 5
$195.6K
$171.1K – $228.2K
NOI $13,691 @ 7.0% cap · market cap 3.18%
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
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Street-level retail with a full bath and central air, plus two separately leased upstairs apartments and paved parking.
Where is this triplex 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: Colonial‑style landmark building in Historic Downtown Gettysburg Tourist District with 1,450 SF storefront; Two upper apartments: Unit #2 has 2 bedrooms and a full bath; Unit #3 is a 1‑bedroom efficiency with full bath; Storefront includes glass display case, check‑out counter, and full bath; natural gas service and central air
