Fully Equipped Restaurant with
For Sale
$449,000
7646 LANCASTER AVENUE, Myerstown, PA 17067
Vacant restaurant property with a fully equipped commercial kitchen, multiple access points, and an upstairs rented apartment.
Property Size4,960 SF
Lot Size0.83 Acres
Price / SF$90.52
Days on Market92
Property Features for 7646 LANCASTER AVENUE
General Information
Standard status
Active
Size
4,960 SF
Total Parking Spaces
36
Lot size
0.83 Acres
Property subtype
Commercial
Additional Details
Multifamily Units
1
Building Details
Year Built
1899
Listing Agency:
Coldwell Banker Realty
(717) 222-4322
Listed By:
Kevin B Yoder
(717) 222-4322
Source:
Cummingsrealtors
Added: May 29
Changed: Aug 25
Last Checked: Aug 28 at 12:05PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This vacant restaurant property offers more than 4,900 square feet of space with a fully equipped commercial kitchen. The setup includes multiple ovens, fryers, and a walk-in cooler, along with a main level that provides two restrooms. Multiple access points are built in to support flexible use and convenient movement for tenants, owners, staff, and deliveries. The upper level includes one apartment, currently rented, with room to accommodate another setup or additional uses.
Located at 7646 Lancaster Avenue in Myerstown, Pennsylvania, the property sits on a 0.83-acre lot and is described as being in an area with a high traffic count. Parking is available with a lot that offers at least 36 spaces. The listing notes that zoning supports many potential uses for an owner who wants to expand or establish a business, and a full list of permitted principal uses is available upon request.
For a buyer or operator, the kitchen infrastructure and on-site apartment can support a range of restaurant and food-service concepts, while the flexible access and sizable parking area help accommodate daily operations and customer arrivals. Because zoning-related details are available upon request, interested parties can review permitted uses before planning any buildout or operational changes.
Located at 7646 Lancaster Avenue in Myerstown, Pennsylvania, the property sits on a 0.83-acre lot and is described as being in an area with a high traffic count. Parking is available with a lot that offers at least 36 spaces. The listing notes that zoning supports many potential uses for an owner who wants to expand or establish a business, and a full list of permitted principal uses is available upon request.
For a buyer or operator, the kitchen infrastructure and on-site apartment can support a range of restaurant and food-service concepts, while the flexible access and sizable parking area help accommodate daily operations and customer arrivals. Because zoning-related details are available upon request, interested parties can review permitted uses before planning any buildout or operational changes.
Key Highlights
- Vacant commercial property built in 1899 with 4,900+ sq ft of space
- 0.83‑acre lot with a parking lot that offers at least 36 parking spaces
- Fully equipped commercial kitchen setup with multiple ovens, fryers, and a walk‑in cooler
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
$28,941
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
6.45%
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%
$578,820
$578.8K
Cap Rate 7%
$413,443
$413.4K
Cap Rate 9%
$321,567
$321.6K
Market Conditions
NOI Build-Up for 4,960 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
$43.8K $8.83/SF
− Vacancy
−$2.5K −$0.49/SF
EGI
$41.3K $8.34/SF
− OpEx
−$12.4K −$2.50/SF
NOI
$28.9K $5.83/SF
Area
Lebanon County, PA
Vacancy
5.60%
Lease Rate
$8.83 /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%
$578,820
Cap Rate 7%
$413,443
Cap Rate 9%
$321,567
Alternative Uses
Best Use
Specialty Retail
$804.1K
$703.6K – $938.1K
NOI $56,284 @ 7.0% cap · market cap 12.54%
Second Best
Industrial
$413.4K
$361.8K – $482.4K
NOI $28,941 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,495 @ 7.0% cap · market cap 18.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Explore this area
Business Placement
Demographics for 17067, PA
15,677
Population
6,155
Households
2.5
Avg Household Size
43
Median Age
17%
College-Educated
83%
High-School Grad
47.1 sq mi
ZIP Area
333
Density / Sq Mi
$78,125
Median Household Income
$47,624
Median Earnings
$1,183
Median Rent
$229,500
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?
Commercial kitchen - Vacant restaurant property with a fully equipped commercial kitchen, multiple access points, and an upstairs rented apartment.
Where is this commercial kitchen located?
The property is located at 7646 LANCASTER AVENUE Myerstown, PA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Vacant commercial property built in 1899 with 4,900+ sq ft of space; 0.83‑acre lot with a parking lot that offers at least 36 parking spaces; Fully equipped commercial kitchen setup with multiple ovens, fryers, and a walk‑in cooler
