Victorian Mixed-Use
For Sale
$529,900
626 North Duke Street, Lancaster, PA 17602
Brick townhouse combines street-level office space with a three-bedroom apartment and rear parking.
Property Size2,774 SF
Price / SF$191.02
Days on Market439
Property Features for 626 North Duke Street
General Information
Standard status
Active
Size
2,774 SF
Total Parking Spaces
7
Property subtype
Multi-Family / Fee Simple
Zoning
RO
Property Condition
Severity
Repairs Needed
Evidence
minor deficiencies
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Office Units
1
Taxes and HOA fees
Annual Taxes
$5,638
Amenities
custom millwork
central air conditioning
No
Cooktop, Dishwasher, Disposal, Dryer - Electric, Oven - Wall, Washer
Ramp - Main Level
No Pool
Above Grade, Below Grade
Building Details
Year Built
1878
Year Renovated
2025
Buildings
1
Stories
3
Construction
Victorian
Listing Agency:
Lancaster Real Estate
(717) 399-8010
Listed By:
Amy L Fields · License #RS183523L
(717) 399-8010
Source:
Compass
Added: Jun 18, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:37AM
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 Lancaster Real Estate
Investment Insights
Based on property information with market context.
Built in 1878, this 2774 SF brick townhouse contains a first-floor office and a three-bedroom apartment spanning the second and third floors. The office layout includes an open front room, conference room, private office, work area, two powder rooms, and built-in storage and display millwork. Central air conditioning serves the office level.
The upper residence includes multiple living and dining areas, a large kitchen with separate work and eating zones, a laundry room with washer and dryer, and a period-style bathroom. The apartment's upper floors are not air conditioned. A paved parking area occupies the rear of the lot, with access from North Christian Street and an egress easement to East New Street. The property is zoned RO and is offered as-is. The front porch roof and remaining metal roof were replaced with rubber, and a side bow window was rebuilt in 2025.
The upper residence includes multiple living and dining areas, a large kitchen with separate work and eating zones, a laundry room with washer and dryer, and a period-style bathroom. The apartment's upper floors are not air conditioned. A paved parking area occupies the rear of the lot, with access from North Christian Street and an egress easement to East New Street. The property is zoned RO and is offered as-is. The front porch roof and remaining metal roof were replaced with rubber, and a side bow window was rebuilt in 2025.
Key Highlights
- Mixed‑use building with first‑floor office and three‑bedroom apartment above
- 2774 SF brick townhouse built in 1878
- Office includes conference room, private office, work area, and two powder rooms
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
$45,926
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
8.67%
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%
$918,520
$918.5K
Cap Rate 7%
$656,086
$656.1K
Cap Rate 9%
$510,289
$510.3K
Market Conditions
NOI Build-Up for 2,774 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
$71.2K $25.68/SF
− Vacancy
−$10.0K −$3.61/SF
EGI
$61.2K $22.07/SF
− OpEx
−$15.3K −$5.52/SF
NOI
$45.9K $16.56/SF
Area
Lancaster County, PA
Vacancy
14.04%
Lease Rate
$25.68 /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%
$918,520
Cap Rate 7%
$656,086
Cap Rate 9%
$510,289
Alternative Uses
Best Use
Office B
$656.1K
$574.1K – $765.4K
NOI $45,926 @ 7.0% cap · market cap 8.67%
Second Best
Mixed Use
$492.2K
$430.7K – $574.2K
NOI $34,453 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$929.6K
$813.4K – $1.08M
NOI $65,071 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,298
Businesses Nearby
Explore this area
Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
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 - Brick townhouse combines street-level office space with a three-bedroom apartment and rear parking.
Where is this mixed-use property located?
The property is located at 626 North Duke Street Lancaster, PA.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Mixed‑use building with first‑floor office and three‑bedroom apartment above; 2774 SF brick townhouse built in 1878; Office includes conference room, private office, work area, and two powder rooms
