High-Visibility Mixed-Use
For Sale
Contact for pricing
618 N 2nd St, Harrisburg, PA
Mixed-use property with commercial space and apartments in high-traffic area.
Property Size5,250 SF
Lot Size0.04 Acres
Price / SF$89.52
Days on Market727
Property Features for 618 N 2nd St
General Information
Standard status
Active
Size
5,250 SF
Lot size
0.04 Acres
Property subtype
MULTIFAMILY
Listing Agency:
Landmark Commercial Realty
(717) 731-1990
Listed By:
Sean Fitzsimmons · License #PA-RS327513
(717) 421-6031
Source:
Moodyscre
Added: Oct 10, 2024
Changed: Oct 4
Last Checked: Oct 5 at 9:08PM
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 Landmark Commercial Realty
Investment Insights
Based on property information with market context.
This mixed-use building is located steps from the PA State Capitol Complex in a high foot-traffic area. The property features ground-level commercial space and upper-level apartments. The apartments are fully leased. The property is located on a visible corner of 2nd Street. A local restaurant user will be occupying the ground level space in early 2026. There is an opportunity to increase below market rental rates. The property size is 5250 square feet.
Key Highlights
- Premier location on a high‑visibility corner of 2nd Street with high foot traffic, steps from the PA State Capitol Complex.
- Fully leased upper‑level apartments provide a steady rental income stream.
- Recently leased ground‑level commercial space is ideal for business use.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,760
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$835,200
$835.2K
Cap Rate 7%
$596,571
$596.6K
Cap Rate 9%
$464,000
$464.0K
Market Conditions
NOI Build-Up for 5,250 SF
Gross rent
$82.5K $15.72/SF
− Vacancy
−$6.6K −$1.26/SF
EGI
$75.9K $14.46/SF
− OpEx
−$34.2K −$6.51/SF
NOI
$41.8K $7.95/SF
Area
Dauphin County, PA
Vacancy
8.00%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$835,200
Cap Rate 7%
$596,571
Cap Rate 9%
$464,000
Alternative Uses
Best Use
Mixed Use
$911.3K
$797.4K – $1.06M
NOI $63,788 @ 7.0% cap · market cap 13.57%
Second Best
Retail
$752.1K
$658.1K – $877.4K
NOI $52,644 @ 7.0% cap · market cap 11.20%
Theoretical Best
Specialty Retail
$9.67M
$8.46M – $11.28M
NOI $676,856 @ 7.0% cap · market cap 144.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,343
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with commercial space and apartments in high-traffic area.
Where is this mixed-use property located?
The property is located at 618 N 2nd St Harrisburg, PA.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Premier location on a high‑visibility corner of 2nd Street with high foot traffic, steps from the PA State Capitol Complex.; Fully leased upper‑level apartments provide a steady rental income stream.; Recently leased ground‑level commercial space is ideal for business use.
