202 N Duke St - Office FOR SALE


Lancaster, PA 17602- Musser Park
$5,500,000 USD
717-394-3374
202 N Duke St, Lancaster, PA for Sale
$5,500,000 USD
Office - FOR SALE
1/88
null | 5.48% Cap Rate

NEW


202 N Duke St
Lancaster, PA 17602
Musser Park


HIGHLIGHTS

  • Leased to established tenants
  • 44-Space private parking garage
  • Separate entrances on Duke & Chestnut Streets
  • Excellent visibility with strong signage potential
  • Elevator access to all levels

OVERVIEW

This prominent two-story commercial property spans a full city block from Duke Street to Christian Street and totals ±34,111 gross square feet, with ±14,952 square feet currently available for owner occupancy or lease. The Building is occupied by 3 well-qualified tenants, while the available space includes much of the second floor plus portions of the first floor and features its own entrance on Duke Street with the separate address of 200 N Duke Street, allowing for distinct identity and signage. The property includes a 44-space private parking garage with 20 spaces available for the vacant areas, elevator access to all levels, separately controlled HVAC, robust data/IT infrastructure, and a fully sprinklered building with monitored fire alarm system. Positioned at a signalized intersection in Lancaster’s Central Business District, the property offers strong visibility with exposure to 8,000+ VPD on Chestnut Street and 9,000+ VPD on Duke Street. Just 2.5 blocks from Penn Square and within walking distance to Central Market, the courthouse, restaurants, entertainment, and other downtown amenities, this is a rare opportunity to acquire a substantial mixed-occupancy asset with immediate income and future upside. Projected CAP rate of 9.28% at full occupancy. Current CAP rate with vacancy is 5.48% at asking price. Property was converted into a condominium but is not operated as such since there is one owner/landlord. Total RE taxes for all condos as of April 2026 are $125,799.69.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$161 USD /SF

CAP RATE

5.48%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1954

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

CB Central Business

APN/PARCEL ID

336-09389-0-0000

ASK ABOUT THIS PROPERTY

Tracy HorstPPM Real Estate IncMore Info
717-394-3374

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Tracy HorstPPM Real Estate IncMore Info
717-394-3374

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.