Renovated Three-Unit Mixed-Use
For Sale
$339,900
632 MAIN Street, Lykens, PA 17048
Multi-Family, LYKENS, PA
Property Size2,781 SF
Lot Size0.10 Acres
Price / SF$122.22
Days on Market96
Property Features for 632 MAIN Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Offsite
High school
UPPER DAUPHIN AREA
Elementary school district
UPPER DAUPHIN AREA
Middle school district
UPPER DAUPHIN AREA
High school district
UPPER DAUPHIN AREA
Standard status
Active
Size
2,781 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
2330
Utilities
Heating system
Central
Cooling system
Central Air, Ductless
Amenities
full bathroom
kitchenette
in-unit laundry
private entrances
fenced yard
Building Details
Year built
1860
Number of units
3
Architectural style
Other
Listing Agency:
Keller Williams Elite · Keller Williams Realty
(717) 553-2500
Listed By:
Andrew Bartlett · License #RS337521
(717) 203-5528
Added: May 20
Changed: Aug 19
Last Checked: Aug 23 at 2:06PM
MLS# PADA2060230
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.
Investment Insights
Based on property information with market context.
This mixed-use property contains 2,781 square feet with a commercial storefront and two residential apartments. The business area includes a full bathroom and kitchenette, while the residential layout consists of one two-level, three-bedroom apartment with one full bath and in-unit laundry, plus a second three-bedroom apartment with one and one-half baths. Each apartment has its own entrance.
Renovations include new electrical and plumbing systems, a metal roof, insulated siding, kitchens, and bathrooms. The property sits on 0.0968 acres and includes an additional lot next door. Central heating, ductless cooling, and central air are installed, with offsite parking available. Built in 1860, the property is located at 632 Main Street in Lykens, Pennsylvania.
Renovations include new electrical and plumbing systems, a metal roof, insulated siding, kitchens, and bathrooms. The property sits on 0.0968 acres and includes an additional lot next door. Central heating, ductless cooling, and central air are installed, with offsite parking available. Built in 1860, the property is located at 632 Main Street in Lykens, Pennsylvania.
Key Highlights
- Three‑unit mixed‑use property with a commercial storefront and two apartments
- 2,781 square feet on a 0.0968‑acre parcel
- Commercial space includes a full bathroom and kitchenette
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
$27,886
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
8.20%
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%
$557,720
$557.7K
Cap Rate 7%
$398,371
$398.4K
Cap Rate 9%
$309,844
$309.8K
Market Conditions
NOI Build-Up for 2,781 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
$41.7K $15.00/SF
− Vacancy
−$1.9K −$0.68/SF
EGI
$39.8K $14.33/SF
− OpEx
−$12.0K −$4.30/SF
NOI
$27.9K $10.03/SF
Area
Dauphin County, PA
Vacancy
4.50%
Lease Rate
$15.00 /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%
$557,720
Cap Rate 7%
$398,371
Cap Rate 9%
$309,844
Alternative Uses
Best Use
Mixed Use
$482.7K
$422.4K – $563.2K
NOI $33,789 @ 7.0% cap · market cap 9.94%
Second Best
Retail
$398.4K
$348.6K – $464.8K
NOI $27,886 @ 7.0% cap · market cap 8.20%
Theoretical Best
Specialty Retail
$5.12M
$4.48M – $5.98M
NOI $358,540 @ 7.0% cap · market cap 105.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 100%
Fine Wine & Good Spirits
Groceries
2,309 visits/mo
0.1 miles
Demographics for 17048, PA
4,006
Population
1,771
Households
2.3
Avg Household Size
41
Median Age
13%
College-Educated
86%
High-School Grad
33.7 sq mi
ZIP Area
119
Density / Sq Mi
$72,873
Median Household Income
$45,496
Median Earnings
$809
Median Rent
$136,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Storefront space combines with two residential apartments and updated building systems.
Where is this mixed-use property located?
The property is located at 632 MAIN Street Lykens, PA.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Three‑unit mixed‑use property with a commercial storefront and two apartments; 2,781 square feet on a 0.0968‑acre parcel; Commercial space includes a full bathroom and kitchenette
