Self Storage Facility with 56
For Sale
Contact for pricing
33 Old Dorwart St, Lancaster, PA 17603
Self storage facility featuring a 5,420 SF building with 56 units, built in 1930 and renovated in 2010.
Property Size5,420 SF
Price / SF$166.05
Days on Market221
Property Features for 33 Old Dorwart St
General Information
Standard status
Active
Size
5,420 SF
Property subtype
INDUSTRIAL
Zoning
R3
Occupancy
100%
Additional Details
Self-Storage Units
56
Building Details
Year Built
1930
Year Renovated
2010
Building Size
5,420 SF
Listing Agency:
NAI Keystone Commercial & Industrial, LLC
(610) 370-8523
Listed By:
Kevin Wolfe · License #RS358185
Source:
Moodyscre
Added: Jan 20
Changed: Aug 17
Last Checked: Aug 28 at 8:37AM
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 NAI Keystone Commercial & Industrial, LLC
Investment Insights
Based on property information with market context.
Self storage facility featuring a 5,420 SF building with 56 units. The property was originally built in 1930 and renovated in 2010, bringing modern functionality to a long-standing asset. Full occupancy is reported, with 100% occupancy across the units.
The property is zoned R3 and is located at 33 Old Dorwart St in Lancaster, PA 17603. The unit mix and storage layout are designed to support consistent tenant demand in the self-storage sector.
With its established operating performance and documented renovations, this facility offers a structured opportunity for buyers seeking an income-producing storage property with a proven occupancy profile.
The property is zoned R3 and is located at 33 Old Dorwart St in Lancaster, PA 17603. The unit mix and storage layout are designed to support consistent tenant demand in the self-storage sector.
With its established operating performance and documented renovations, this facility offers a structured opportunity for buyers seeking an income-producing storage property with a proven occupancy profile.
Key Highlights
- 5,420 SF self storage building
- 56 units
- 100% occupancy reported
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
$51,902
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
5.77%
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%
$1,038,040
$1.0M
Cap Rate 7%
$741,457
$741.5K
Cap Rate 9%
$576,689
$576.7K
Market Conditions
NOI Build-Up for 5,420 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
$78.0K $14.40/SF
− Vacancy
−$3.9K −$0.72/SF
EGI
$74.1K $13.68/SF
− OpEx
−$22.2K −$4.10/SF
NOI
$51.9K $9.58/SF
Area
Lancaster County, PA
Vacancy
5.00%
Lease Rate
$14.40 /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%
$1,038,040
Cap Rate 7%
$741,457
Cap Rate 9%
$576,689
Alternative Uses
Best Use
Self Storage
$741.5K
$648.8K – $865.0K
NOI $51,902 @ 7.0% cap · market cap 5.77%
Second Best
Warehouse
$523.6K
$458.2K – $610.9K
NOI $36,654 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,139 @ 7.0% cap · market cap 14.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,970
Businesses Nearby
Explore this area
Business Placement
Demographics for 17603, PA
66,739
Population
28,142
Households
2.4
Avg Household Size
37
Median Age
37%
College-Educated
90%
High-School Grad
30.0 sq mi
ZIP Area
2,225
Density / Sq Mi
$77,156
Median Household Income
$40,043
Median Earnings
$1,265
Median Rent
$244,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Self storage facility featuring a 5,420 SF building with 56 units, built in 1930 and renovated in 2010.
Where is this self storage facility located?
The property is located at 33 Old Dorwart St Lancaster, PA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 5,420 SF self storage building; 56 units; 100% occupancy reported
