Restaurant with
New
For Sale
$775,000
602 W ORANGE STREET, Lancaster, PA 17603
The sale combines an established food-service business, a laundromat, and restaurant equipment and supplies.
Property Size2,732 SF
Price / SF$283.67
Days on Market3
Property Features for 602 W ORANGE STREET
General Information
Standard status
Active
Size
2,732 SF
Total Parking Spaces
8
Property subtype
Commercial
Additional Details
Business Included
Yes
Equipment Included
Yes
Currently Operating
Yes
Building Details
Year Built
1968
Listing Agency:
Howard Hanna Real Estate Services - Lancaster
(717) 392-0200
Listed By:
Phyllis Rothweiler · License #RS285880
(717) 587-8283
Source:
Cummingsrealtors
Added: Oct 29
Changed: Oct 31
Last Checked: Oct 31 at 3:32AM
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 Howard Hanna Real Estate Services - Lancaster
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,732-square-foot restaurant property in Lancaster includes a steak shop and a laundromat. The sale encompasses the real estate and business, along with restaurant equipment and supplies. The building dates to 1968.
A dedicated lot provides 8 customer parking spaces. The restaurant has operated in the community for nearly 58 years.
A dedicated lot provides 8 customer parking spaces. The restaurant has operated in the community for nearly 58 years.
Key Highlights
- 2,732‑square‑foot restaurant property
- Includes a steak shop and laundromat
- Sale includes the real estate, business, restaurant equipment, and supplies
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,834
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,680
$996.7K
Cap Rate 7%
$711,914
$711.9K
Cap Rate 9%
$553,711
$553.7K
Market Conditions
NOI Build-Up for 2,732 SF
Gross rent
$71.1K $26.04/SF
− Vacancy
−$4.7K −$1.72/SF
EGI
$66.4K $24.32/SF
− OpEx
−$16.6K −$6.08/SF
NOI
$49.8K $18.24/SF
Area
Lancaster County, PA
Vacancy
6.60%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,680
Cap Rate 7%
$711,914
Cap Rate 9%
$553,711
Alternative Uses
Best Use
Specialty Retail
$711.9K
$622.9K – $830.6K
NOI $49,834 @ 7.0% cap · market cap 6.43%
Second Best
Mixed Use
$484.7K
$424.1K – $565.5K
NOI $33,931 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$915.5K
$801.1K – $1.07M
NOI $64,086 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,652
Businesses Nearby
25k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 29%
Sunoco
Shops & Services
6,554 visits/mo
0.4 miles
Turkey Hill Minit Market
Shops & Services
5,576 visits/mo
0.5 miles
Turkey Hill Minit Market
Shops & Services
5,351 visits/mo
0.3 miles
Krispy Krunchy Chicken
Dining
2,858 visits/mo
0.1 miles
Pizza Hut
Dining
2,646 visits/mo
0.4 miles
Demographics for 17603, PA
66,739
Population
28,142
Households
2.4
Avg Household Size
37
Median Age
37%
College-Educated
90%
High-School Grad
30.0 sq mi
ZIP Area
2,225
Density / Sq Mi
$77,156
Median Household Income
$40,043
Median Earnings
$1,265
Median Rent
$244,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The sale combines an established food-service business, a laundromat, and restaurant equipment and supplies.
Where is this conventional restaurant located?
The property is located at 602 W ORANGE STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 2,732‑square‑foot restaurant property; Includes a steak shop and laundromat; Sale includes the real estate, business, restaurant equipment, and supplies
