Renovated Quadplex with Dedicated
For Sale
$595,000
834 W MAIN STREET, Palmyra, PA 17078
Four updated apartments offer separate entrances, modern kitchens and baths, and tenant-paid electric.
Property Size3,000 SF
Price / SF$198.33
Days on Market9
Property Features for 834 W MAIN STREET
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Quadruplex
Units
Unit Mix
2 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1925
Stories
2
Listing Agency:
Stoltzfus Realty
(717) 598-3327
Listed By:
Joseph Fisher · License #RS352328
(717) 598-3327
Source:
Cummingsrealtors
Added: Aug 3
Changed: Aug 11
Last Checked: Aug 11 at 6:11AM
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 Stoltzfus Realty
Investment Insights
Based on property information with market context.
This 1925 quadplex contains four renovated apartments with modern finishes, updated kitchens, and updated bathrooms. Each residence has its own entrance and dedicated parking. The first floor includes 834 and 836, both configured as one-bedroom, one-bath units. The second floor includes 834A and 836A, each offering two bedrooms and one bathroom.
Tenants pay their own electric service, while ownership covers gas, water, sewer, and trash. The property is located in Palmyra with access to local shops, dining, and major commuter routes.
Tenants pay their own electric service, while ownership covers gas, water, sewer, and trash. The property is located in Palmyra with access to local shops, dining, and major commuter routes.
Key Highlights
- Four renovated apartments with modern finishes, updated kitchens, and updated baths
- 834 and 836: 1BR/1BA first‑floor units
- 834A and 836A: 2BR/1BA second‑floor units
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
$26,807
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
4.51%
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%
$536,140
$536.1K
Cap Rate 7%
$382,957
$383.0K
Cap Rate 9%
$297,856
$297.9K
Market Conditions
NOI Build-Up for 3,000 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
$41.4K $13.80/SF
− Vacancy
−$3.1K −$1.04/SF
EGI
$38.3K $12.77/SF
− OpEx
−$11.5K −$3.83/SF
NOI
$26.8K $8.94/SF
Area
Lebanon County, PA
Vacancy
7.50%
Lease Rate
$13.80 /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%
$536,140
Cap Rate 7%
$382,957
Cap Rate 9%
$297,856
Alternative Uses
Best Use
Multifamily LT 5
$383.0K
$335.1K – $446.8K
NOI $26,807 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$355.9K
$311.4K – $415.2K
NOI $24,912 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$704.2K
$616.1K – $821.5K
NOI $49,291 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
538
Businesses Nearby
Explore this area
Business Placement
Demographics for 17078, PA
23,496
Population
9,602
Households
2.4
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
30.1 sq mi
ZIP Area
781
Density / Sq Mi
$84,533
Median Household Income
$47,141
Median Earnings
$1,252
Median Rent
$278,300
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?
Quadplex - Four updated apartments offer separate entrances, modern kitchens and baths, and tenant-paid electric.
Where is this quadplex located?
The property is located at 834 W MAIN STREET Palmyra, PA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Four renovated apartments with modern finishes, updated kitchens, and updated baths; 834 and 836: 1BR/1BA first‑floor units; 834A and 836A: 2BR/1BA second‑floor units
