Retail Building with Drive-In
New
For Sale
$1,100,000
622 E Gay St, West Chester, PA 19380
Commercial-zoned retail property with flexible loading access and on-site parking.
Property Size4,620 SF
Lot Size0.21 Acres
Price / SF$238.10
Days on Market3
Property Features for 622 E Gay St
General Information
Standard status
Active
Size
4,620 SF
Total Parking Spaces
12
Lot size
0.21 Acres
Property subtype
Business Opportunity
Additional Details
Business Included
Yes
Building Details
Year Built
1958
Listing Agency:
LPT Realty, LLC
Listed By:
Gary A Mercer Sr.
Source:
Kathywolfgang
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 18 at 7:02AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This 4,620 SF retail building occupies an approximately 9,024 SF lot, or .21 acres, and is commercially zoned. The property is currently home to Market Street Hardware and General Store, with a layout that has supported multiple end users over time. Interior ceiling heights range from 12 to 15 feet, providing adaptable retail and storage capacity.
Located at 622 E Gay Street in West Chester, the building includes a rear drive-in door, a side roll-up door, and approximately 12 parking spaces. The combination of customer parking, multiple loading points, and an existing retail configuration supports continued commercial use. The property is offered with the real estate and the current hardware-store operation in place.
Located at 622 E Gay Street in West Chester, the building includes a rear drive-in door, a side roll-up door, and approximately 12 parking spaces. The combination of customer parking, multiple loading points, and an existing retail configuration supports continued commercial use. The property is offered with the real estate and the current hardware-store operation in place.
Key Highlights
- 4,620 SF commercial‑zoned retail building
- Approximately 9,024 SF lot, or .21 acres
- 12‑15 foot ceiling heights
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
$52,216
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
4.75%
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%
$1,044,320
$1.0M
Cap Rate 7%
$745,943
$745.9K
Cap Rate 9%
$580,178
$580.2K
Market Conditions
NOI Build-Up for 4,620 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
$83.2K $18.00/SF
− Vacancy
−$8.6K −$1.85/SF
EGI
$74.6K $16.15/SF
− OpEx
−$22.4K −$4.84/SF
NOI
$52.2K $11.30/SF
Area
Chester County, PA
Vacancy
10.30%
Lease Rate
$18.00 /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%
$1,044,320
Cap Rate 7%
$745,943
Cap Rate 9%
$580,178
Alternative Uses
Best Use
Retail
$745.9K
$652.7K – $870.3K
NOI $52,216 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.23M – $1.63M
NOI $98,052 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,973
Businesses Nearby
33k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Home Improvements & Furnishings 27%
Dining 20%
Ace Hardware Of West Chester
Home Improvements & Furnishings
8,809 visits/mo
0.4 miles
Dollar Tree
Shops & Services
8,086 visits/mo
0.5 miles
Petco
Shops & Services
6,391 visits/mo
0.5 miles
SUBWAY
Dining
3,777 visits/mo
0.3 miles
Insomnia Cookies
Dining
2,966 visits/mo
0.5 miles
Demographics for 19380, PA
50,692
Population
21,490
Households
2.4
Avg Household Size
43
Median Age
64%
College-Educated
97%
High-School Grad
30.5 sq mi
ZIP Area
1,662
Density / Sq Mi
$122,876
Median Household Income
$69,599
Median Earnings
$1,820
Median Rent
$530,400
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
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial-zoned retail property with flexible loading access and on-site parking.
Where is this retail space located?
The property is located at 622 E Gay St West Chester, PA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,620 SF commercial‑zoned retail building; Approximately 9,024 SF lot, or .21 acres; 12‑15 foot ceiling heights
