Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    624 CHESTNUT Street Lebanon, PA 17042

    View on Map
    Claim this Listing
    New
    For Sale
    $280,000

    MULTI_FAMILY - Other - LEBANON, PA

    Property size:
    6,000 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $46/SF
    Added:
    May 6, 2026
    Days on Market:
    1
    Last Refresh:
    May 6 at 2:06 pm

    Property Features for 624 CHESTNUT Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    On Street
    Standard status
    Active
    Size
    6,000 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4893

    Utilities

    Heating system
    Other (Heating)

    Building Details

    Year built
    1830
    Number of units
    3
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Timothy K Shreiner

    Listing agent Timothy K Shreiner License #RS187003L

    Listing office Berkshire Hathaway HomeServices Homesale Realty 150 N Pointe Boulevard, Lancaster, PA

    Listing date May 6, 2026

    MLS# PALN2025808 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey 3‑unit multi‑family property with immediate cash flow.
    • Fully rented with a strong return on investment.
    • Newer high‑efficiency gas heating system for affordable owner‑paid heat.
    • Large, spacious units with character and charm.
    • Brick construction.
    • Built in 1830, offering a piece of Lebanon history.

    Overview

    Turnkey Lebanon Multi-Family Investment

    This is a turnkey 3-unit investment opportunity located in Lebanon, PA. The multi-family property is fully rented, providing immediate cash flow and a strong return on investment. The property features large, spacious units with character. A newer high-efficiency gas heating system helps minimize operating expenses. The property is well-positioned with strong rental demand, presenting a solid income-producing asset. The lot size is 0.11 acres and the property size is 6000 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lebanon
    County
    Lebanon
    State
    Pennsylvania
    Longitude
    -76.42187
    Latitude
    40.33794

    Nearby Similar for Sale

    • $419,900
      2,700 SF

      Well-Maintained Four-Unit Investment Property

      Four-unit property with strong income potential in Lebanon, PA.
      525 N 8TH Street, LEBANON, PA 17046
      View Details
    • $405,000
      2,804 SF

      Income-Producing Four-Unit Multifamily Property

      Investor-ready four-unit property with parking lot in Lebanon, PA.
      432 N 5TH Street, LEBANON, PA 17046
      View Details
    • $1,100,000

      Lebanon Commercial Property with Storage

      Office and storage property with income potential in Lebanon, PA.
      200 SCHNEIDER Drive, LEBANON, PA 17046
      View Details
    • $419,900
      2,999 SF

      Lebanon Four-Unit Income Property

      Fully rented four-unit income property in Lebanon, Pennsylvania.
      14-16 N 7TH Street, LEBANON, PA 17046
      View Details
    • $229,000
      1,217 SF

      Lebanon Duplex with Income Potential

      Fully rented duplex in Lebanon with immediate income and upside.
      135 S 11TH Street, LEBANON, PA 17042
      View Details
    • $240,000
      2,256 SF

      Lebanon Duplex with Garage Income

      Income-generating duplex with detached garage in Lebanon, Pennsylvania.
      528 MAPLE Street, LEBANON, PA 17046
      View Details
    • $490,000
      6,470 SF

      Two-Story Brick Building For Sale

      Two-story brick building with redevelopment underway and customization options.
      170 N 9th St, Lebanon, PA
      View Details
    • $449,000
      3,006 SF

      Mixed-Use Property on Cumberland Street

      3,006 SF mixed-use property with commercial and residential units.
      429 E CUMBERLAND STREET, LEBANON, PA 17042
      View Details
    • $950,000
      1,520 SF

      Charming Event Venue on Acres

      Coveted wedding and event venue on over four acres.
      2395 Quentin Rd, Lebanon, PA 17042
      View Details
    • $1,795,000
      19,547 SF

      Lebanon Commercial Property for Sale

      Commercial property available at the corner of 7th Street.
      701 Cumberland St, Lebanon, PA 17042
      View Details
    • $1,850,000
      4,030 SF

      Established Car Wash on Quentin

      Drive-through car wash with commercial building and redevelopment potential.
      702 Quentin Rd, Lebanon, PA 17042
      View Details
    • $279,900
      3,694 SF

      Spacious Duplex Near Downtown Lebanon

      Two-unit building with recent updates, ideal for owner-occupants or investors.
      1328 Lehman Street, Lebanon, PA 17046
      View Details

    FAQs

    What type of property is this?
    Triplex - Fully rented 3-unit property with immediate cash flow.
    Where is this triplex located?
    The property is located at 624 CHESTNUT Street Lebanon, PA.
    What is the asking price?
    The asking price for this property is $280,000.
    What are key features of this property?
    This property features: Turnkey 3‑unit multi‑family property with immediate cash flow.; Fully rented with a strong return on investment.; Newer high‑efficiency gas heating system for affordable owner‑paid heat.
    (717) 560-8496
    We can help!
    Listing Contact
    Timothy K Shreiner
    Real Estate License ID: RS187003L
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    624 CHESTNUT Street, LEBANON, PA 17042
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!