Duplex with Barn and
New
For Sale
$340,000
5302 LINCOLN HIGHWAY, Gap, PA 17527
Two residential units offer separate entrances, storage areas, and several off-street parking spaces on a corner parcel.
Property Size1,745 SF
Price / SF$194.84
Days on Market5
Property Features for 5302 LINCOLN HIGHWAY
General Information
Standard status
Active
Size
1,745 SF
Property subtype
Duplex
Building Details
Year Built
1930
Listing Agency:
Keller Williams Real Estate -Exton
(610) 363-4300
Listed By:
Todd Reed · License #AB046808L
(610) 570-5864
Source:
Cummingsrealtors
Added: Aug 30
Changed: Sep 1
Last Checked: Sep 2 at 5:29PM
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 Keller Williams Real Estate -Exton
Investment Insights
Based on property information with market context.
This duplex, built in 1930, contains two residential units with separate access points. The first-floor apartment includes two bedrooms, wood flooring in the living room and bedrooms, and a remodeled kitchen equipped with white cabinetry, tile backsplash, electric range, dishwasher, and built-in microwave. Its full bath includes both a tub and separate shower. A screened rear porch and partial basement storage serve this unit. The second-floor apartment offers a kitchen, living room, two bedrooms, and a full bath, along with attic storage. A long-term tenant currently occupies the upper unit.
The property also includes a large barn with a loft, several off-street parking spaces, and a basement laundry hookup. The home is situated on a corner lot at 5302 Lincoln Highway in Gap, Pennsylvania, and is zoned GC, or General Commercial.
The property also includes a large barn with a loft, several off-street parking spaces, and a basement laundry hookup. The home is situated on a corner lot at 5302 Lincoln Highway in Gap, Pennsylvania, and is zoned GC, or General Commercial.
Key Highlights
- Two‑unit property with separate entrances and two bedrooms in each apartment
- First‑floor unit has a remodeled kitchen, wood flooring, screened rear porch, and partial basement storage
- Second‑floor apartment includes attic storage and is occupied by a long‑term tenant
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
$19,491
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
5.73%
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%
$389,820
$389.8K
Cap Rate 7%
$278,443
$278.4K
Cap Rate 9%
$216,567
$216.6K
Market Conditions
NOI Build-Up for 1,745 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
$28.3K $16.20/SF
− Vacancy
−$424 −$0.24/SF
EGI
$27.8K $15.96/SF
− OpEx
−$8.4K −$4.79/SF
NOI
$19.5K $11.17/SF
Area
Lancaster County, PA
Vacancy
1.50%
Lease Rate
$16.20 /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%
$389,820
Cap Rate 7%
$278,443
Cap Rate 9%
$216,567
Alternative Uses
Best Use
Multifamily LT 5
$278.4K
$243.6K – $324.9K
NOI $19,491 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$245.6K
$214.9K – $286.5K
NOI $17,189 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$584.8K
$511.7K – $682.2K
NOI $40,933 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 17527, PA
6,550
Population
2,162
Households
3
Avg Household Size
33
Median Age
17%
College-Educated
75%
High-School Grad
21.0 sq mi
ZIP Area
312
Density / Sq Mi
$92,292
Median Household Income
$38,958
Median Earnings
$1,319
Median Rent
$297,700
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?
Duplex - Two residential units offer separate entrances, storage areas, and several off-street parking spaces on a corner parcel.
Where is this duplex located?
The property is located at 5302 LINCOLN HIGHWAY Gap, PA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two‑unit property with separate entrances and two bedrooms in each apartment; First‑floor unit has a remodeled kitchen, wood flooring, screened rear porch, and partial basement storage; Second‑floor apartment includes attic storage and is occupied by a long‑term tenant
