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202 N Duke St 34,111 SF 56% Leased Office Building Lancaster, PA 17602 $7,518,170 CAD ($220.40 CAD/SF) 5.48% Cap Rate
Investment Highlights
- Leased to established tenants
- Separate entrances on Duke & Chestnut Streets
- Elevator access to all levels
- 44-Space private parking garage
- Excellent visibility with strong signage potential
Executive Summary
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.
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.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
34,111 SF
Building Class
B
Year Built
1954
Price
$7,518,170 CAD
Price Per SF
$220.40 CAD
Cap Rate
5.48%
NOI
$412,134 CAD
Percent Leased
56%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
17,055 SF
Building FAR
1.40
Lot Size
0.56 AC
Zoning
CB Central Business - Central Business District
Parking
44 Spaces (1.29 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Controlled Access
- Security System
- Air Conditioning
1 1
Very walkable
80/100
Very drivable
80/100
Good public transit
60/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 336-09389-0-0000 | Improvements Assessment | $0 CAD |
| Land Assessment | $72,448 CAD | Total Assessment | $72,448 CAD |
Property Taxes
Parcel Number
336-09389-0-0000
Land Assessment
$72,448 CAD
Improvements Assessment
$0 CAD
Total Assessment
$72,448 CAD
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202 N Duke St
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