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221 E Princess St 2,226 SF 100% Leased Office Building York, PA 17403 $325,000 ($146.00/SF) 9.70% Cap Rate
Investment Highlights
- The property is centrally located in York City with strong street visibility and pedestrian traffic.
- The site benefits from medium traffic flow, paved road access, and a level lot.
- 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.
Executive Summary
Exceptional value-add opportunity in the heart of downtown York! This two-story, 5,250 SF commercial building sits on an 8,466 SF lot at 221–225 E. Princess Street and offers the rare combination of prime street visibility, flexible Office/Flex layout, and dedicated on-site parking — a premium asset that is hard to find in the urban core. The property is vacant offering a blank canvas for renovation and customization. Ideal for a non-profit organization, professional services firm, medical or wellness office, or savvy investor seeking a repositioning play in a growing downtown market. Priced competitively at $325,000 — well below stabilized value. Property Highlights: 5,250 SF building | 8,466 SF lot Two-unit Office/Flex layout — 1st & 2nd floor suites Dedicated on-site parking lot High-visibility corner location on E. Princess Street Vacant — immediate possession at closing Zoned for office/flex commercial use. Property is currently exempt under non-profit ownership. Projected taxes based on current York City millage rates and estimated post-sale taxable status. Buyers should confirm with York City prior to closing.
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
2,226 SF
Building Class
C
Year Built
1955
Price
$325,000
Price Per SF
$146.00
Cap Rate
9.70%
NOI
$31,525
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
2,226 SF
Slab To Slab
12’
Building FAR
0.26
Lot Size
0.19 AC
Zoning
Commercial
Parking
10 Spaces (4.49 Spaces per 1,000 SF Leased)
Amenities
- Signage
1 1
Very walkable
80/100
Fairly drivable
50/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 06-104-01-0056.00-00000 | Total Assessment | $2,250 |
| Land Assessment | $0 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,250 | Tax Year | 2026 |
Property Taxes
Parcel Number
06-104-01-0056.00-00000
Land Assessment
$0
Improvements Assessment
$2,250
Total Assessment
$2,250
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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