221–225 E. Princess Street
Office | 9.72% CAP* | 5,250 SqFt *property currently operating as a non-profit. Real estate taxes
Marketing description
Weichert, Realtors® – The Ortega Group is pleased to present the exclusive sale of 221–225 E. Princess Street, a two-story, 5,250 SF commercial building on an 8,466 SF lot in the heart of downtown York, Pennsylvania. Offered at $325,000, the property represents a compelling value-add opportunity for investors and owner-users seeking an established commercial presence with significant upside potential.
Built in 1955, 221–225 E. Princess Street is a two-story stucco commercial building comprising 5,250 SF on an 8,466 SF lot. Classified as a Downtown Row Type with Office Above, the building contains two commercial units and has historically served office and community service uses along the E. Princess Street corridor.
The property is centrally located in York City with strong street visibility and pedestrian traffic. Penn Park and JL Williams Memorial Park are within a short walk. York College of Pennsylvania and WellSpan York Hospital are both 7–10 minutes away. The site benefits from medium traffic flow, paved road access, and a level lot.
Investment highlights
- Prime Downtown Location - High visibility on E. Princess Street with strong pedestrian traffic. Minutes from Penn Park, JL Williams Memorial Park, York College, and WellSpan Health.
- Rare On-Site Parking - Dedicated asphalt parking lot — a significant premium in the York urban core where off-street parking is difficult to find.
- Flexible Multi-Unit Layout - Two commercial units across two floors offering flexible configurations: full building owner-occupancy or a two-tenant income strategy.
- Value-Add Opportunity - Buyer should anticipate capital improvements and renovations to achieve full stabilization and market rents.
- Strong Income Upside - Stabilized pro forma projects $54,000 gross rent annually. At a 9.0% cap rate, stabilized value reaches $351,000 — above asking price.
- Attractive Basis - Priced at $61.90/SF — below replacement cost and at or below comparable distressed office product in the York submarket.
- Key Demand Drivers Nearby - York College of PA, WellSpan York Hospital, York County Courthouse, and the Penn Street corridor are all within 2 miles.
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