Triplex with Off-Street
For Sale
$299,900
Pending
641 West Broadway, Red Lion, PA 17356
Three separately metered apartments include two rent-ready units and dedicated parking for each residence.
Property Size1,330 SF
Days on Market64
Property Features for 641 West Broadway
General Information
Standard status
Pending
Size
1,330 SF
Total Parking Spaces
3
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$2,269
Amenities
No
Oven - Single, Refrigerator, Stove
Bathroom - Stall Shower, Combination Kitchen/Dining
No Pool
Sidewalks
Building Details
Year Built
1920
Buildings
1
Listing Agency:
OwnerEntry.com
(617) 542-9300
Listed By:
David White · License #10371201849
(617) 542-9300
Source:
Compass
Added: Jun 29
Changed: Aug 30
Last Checked: Aug 31 at 1:18AM
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 OwnerEntry.com
Investment Insights
Based on property information with market context.
This 1,330-square-foot triplex at 641 W Broadway includes three apartments: two one-bedroom, one-bath units and one two-bedroom, one-bath unit. The first apartment is leased month-to-month, while the other two have received updates and are ready for occupancy. Improvements include a makeover in the second unit and new carpet in the third. A private utility room provides additional owner-use space, and owner-owned appliances convey with the sale.
Each apartment has a designated off-street parking space behind the building in a freshly paved lot. The property is located in Red Lion Borough near Franklin Street Social. All units are sub-metered, providing separate utility measurement for the apartments.
Each apartment has a designated off-street parking space behind the building in a freshly paved lot. The property is located in Red Lion Borough near Franklin Street Social. All units are sub-metered, providing separate utility measurement for the apartments.
Key Highlights
- Three‑unit apartment building with 1,330 square feet
- Unit mix includes two 1‑bedroom, 1‑bath apartments and one 2‑bedroom, 1‑bath apartment
- Unit 1 is leased month‑to‑month; Units 2 and 3 are rent ready
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
$13,197
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
4.40%
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%
$263,940
$263.9K
Cap Rate 7%
$188,529
$188.5K
Cap Rate 9%
$146,633
$146.6K
Market Conditions
NOI Build-Up for 1,330 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
$20.0K $15.00/SF
− Vacancy
−$1.1K −$0.83/SF
EGI
$18.9K $14.17/SF
− OpEx
−$5.7K −$4.25/SF
NOI
$13.2K $9.92/SF
Area
York County, PA
Vacancy
5.50%
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%
$263,940
Cap Rate 7%
$188,529
Cap Rate 9%
$146,633
Alternative Uses
Best Use
Multifamily LT 5
$188.5K
$165.0K – $220.0K
NOI $13,197 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$175.1K
$153.2K – $204.3K
NOI $12,258 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$385.1K
$337.0K – $449.3K
NOI $26,956 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 17356, PA
23,176
Population
9,212
Households
2.5
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
33.4 sq mi
ZIP Area
694
Density / Sq Mi
$85,726
Median Household Income
$46,750
Median Earnings
$966
Median Rent
$228,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered apartments include two rent-ready units and dedicated parking for each residence.
Where is this triplex located?
The property is located at 641 West Broadway Red Lion, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Three‑unit apartment building with 1,330 square feet; Unit mix includes two 1‑bedroom, 1‑bath apartments and one 2‑bedroom, 1‑bath apartment; Unit 1 is leased month‑to‑month; Units 2 and 3 are rent ready
