Two-Unit Mixed-Use
For Sale
$325,000
6 S 15th St, Camp Hill, PA 17011
Turnkey two-unit building with separated electric services, office space on the first floor, and a leased one-bedroom apartment upstairs.
Property Size1,984 SF
Price / SF$163.81
Days on Market48
Property Features for 6 S 15th St
General Information
Standard status
Active
Size
1,984 SF
Additional Details
Multifamily Units
1
Building Details
Year Built
1900
Stories
2
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
Listed By:
JENNIFER FEINBERG · License #RS316506
(717) 215-7112
Source:
Kandorre
Added: Jul 20
Changed: Aug 22
Last Checked: Sep 4 at 11:09AM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
This turnkey mixed-use property includes two distinct units with separate electrical service for full separation. The first floor offers commercial and/or office space with a dedicated waiting/reception area, conference room, administrative offices, full kitchen, bathroom, and utility space, along with direct access to a private storage basement. The second floor is a large one-bedroom residential apartment that is currently leased and features a living room, full kitchen, bathroom, large storage area, and an updated private entrance.
Recent capital improvements include the addition of a second electrical service, new mini-splits installed on the first floor, and new vinyl plank flooring running through much of the building. The exterior has been professionally cleaned, patched, and recoated, and a brand-new front door was installed for the second-unit entrance. The property also provides two separate basements: one accessed from the first-floor commercial space and the other reached via an exterior side door. This lower level houses main mechanical systems, separate electric boxes, and a laundry area for the tenant.
The first-floor tenant is scheduled to vacate by 9/1/2026.
Recent capital improvements include the addition of a second electrical service, new mini-splits installed on the first floor, and new vinyl plank flooring running through much of the building. The exterior has been professionally cleaned, patched, and recoated, and a brand-new front door was installed for the second-unit entrance. The property also provides two separate basements: one accessed from the first-floor commercial space and the other reached via an exterior side door. This lower level houses main mechanical systems, separate electric boxes, and a laundry area for the tenant.
The first-floor tenant is scheduled to vacate by 9/1/2026.
Key Highlights
- Two‑unit multi‑use building built in 1900 with first‑floor commercial/office space and a leased one‑bedroom apartment upstairs
- Second electrical service added to fully separate the units, with separate electric boxes for each unit
- New mini‑splits installed on the first floor for central AC
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
$25,204
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
7.76%
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%
$504,080
$504.1K
Cap Rate 7%
$360,057
$360.1K
Cap Rate 9%
$280,044
$280.0K
Market Conditions
NOI Build-Up for 1,984 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
$35.7K $18.00/SF
− Vacancy
−$2.1K −$1.06/SF
EGI
$33.6K $16.94/SF
− OpEx
−$8.4K −$4.23/SF
NOI
$25.2K $12.70/SF
Area
Cumberland County, PA
Vacancy
5.90%
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%
$504,080
Cap Rate 7%
$360,057
Cap Rate 9%
$280,044
Alternative Uses
Best Use
Office B
$360.1K
$315.1K – $420.1K
NOI $25,204 @ 7.0% cap · market cap 7.76%
Second Best
Multifamily LT 5
$269.7K
$236.0K – $314.6K
NOI $18,877 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$460.9K
$403.3K – $537.7K
NOI $32,261 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 17011, PA
36,184
Population
14,999
Households
2.4
Avg Household Size
41
Median Age
44%
College-Educated
92%
High-School Grad
13.1 sq mi
ZIP Area
2,762
Density / Sq Mi
$88,889
Median Household Income
$52,518
Median Earnings
$1,270
Median Rent
$261,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Turnkey two-unit building with separated electric services, office space on the first floor, and a leased one-bedroom apartment upstairs.
Where is this mixed-use property located?
The property is located at 6 S 15th St Camp Hill, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit multi‑use building built in 1900 with first‑floor commercial/office space and a leased one‑bedroom apartment upstairs; Second electrical service added to fully separate the units, with separate electric boxes for each unit; New mini‑splits installed on the first floor for central AC
