Lancaster City Bakery and
For Sale
Contact for pricing
9 N Duke St, Lancaster, PA 17602
Thriving bakery with real estate and apartment upside.
Property Size3,106 SF
Price / SF$370.25
Days on Market183
Property Features for 9 N Duke St
General Information
Standard status
Active
Size
3,106 SF
Property subtype
Retail
Occupancy
100%
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Bennett Williams Commercial
(717) 843-5555
Listed By:
Chad Stine · License #PA RS223285L
Source:
Crexi
Added: Feb 10
Changed: Aug 8
Last Checked: Aug 10 at 5:37AM
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 Bennett Williams Commercial
Investment Insights
Based on property information with market context.
For over 21 years, the bakery has been a fixture in Lancaster City, recognized for its pastries, sandwiches, cakes, and coffee. The sale presents an opportunity to acquire a business and the real estate it occupies. The sale includes the property, all equipment, proprietary recipes, the business name, and all associated entity rights. The property also features two one-bedroom apartments that offer potential. These spaces can be converted into expanded dining areas, private event space, or other creative uses. The property size is 3106 square feet.
Key Highlights
- Established bakery business (La Dolce Vita Courthouse Bakery) with a 21‑year history, loyal customer base, and strong local reputation.
- Sale includes both the thriving business and the real estate it occupies, providing long‑term stability and investment value.
- Sale encompasses all equipment, proprietary recipes, the business name, and associated entity rights for a seamless transition.
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
$56,657
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
4.93%
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%
$1,133,140
$1.1M
Cap Rate 7%
$809,386
$809.4K
Cap Rate 9%
$629,522
$629.5K
Market Conditions
NOI Build-Up for 3,106 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
$80.9K $26.04/SF
− Vacancy
−$5.3K −$1.72/SF
EGI
$75.5K $24.32/SF
− OpEx
−$18.9K −$6.08/SF
NOI
$56.7K $18.24/SF
Area
Lancaster County, PA
Vacancy
6.60%
Lease Rate
$26.04 /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%
$1,133,140
Cap Rate 7%
$809,386
Cap Rate 9%
$629,522
Alternative Uses
Best Use
Specialty Retail
$809.4K
$708.2K – $944.3K
NOI $56,657 @ 7.0% cap · market cap 4.93%
Second Best
Retail
$522.2K
$456.9K – $609.2K
NOI $36,553 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$1.04M
$910.7K – $1.21M
NOI $72,859 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,320
Businesses Nearby
138k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 33%
Apparel 32%
Dining 22%
Office Supplies 10%
Marshalls
Apparel
41,538 visits/mo
0.4 miles
Dollar Tree
Shops & Services
24,357 visits/mo
0.4 miles
Burger King
Dining
15,829 visits/mo
0.5 miles
Staples
Office Supplies
13,252 visits/mo
0.5 miles
Dunkin' Donuts
Dining
12,969 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Lancaster County Coffee Roasters @ Central Market — 23 N Market St, Lancaster, PA 17603
- DELIGRASSI LLC — 23 N Market St, Lancaster, PA 17603
- Nostalgica Coffee — 308 W Grant St, Lancaster, PA 17603
- DELICIAS GOURMET — 243 Green St, Lancaster, PA 17602
- Butter and Bean — 100 S Queen St, Lancaster, PA 17603
Frequently Asked Questions
What type of property is this?
Coffee shop - Thriving bakery with real estate and apartment upside.
Where is this coffee shop located?
The property is located at 9 N Duke St Lancaster, PA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Established bakery business (La Dolce Vita Courthouse Bakery) with a 21‑year history, loyal customer base, and strong local reputation.; Sale includes both the thriving business and the real estate it occupies, providing long‑term stability and investment value.; Sale encompasses all equipment, proprietary recipes, the business name, and associated entity rights for a seamless transition.
