39 E Chestnut StreetLancaster, PA 17602

Description

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.

Property Information

Property type

Commercial Sale

Sub-type

Office

Year built

1954

Stories

2

Lot dimensions

0.00 x 0.00

Parking spaces

44

Zoning

CBD

Days on market

154

MLS^® Listing#

PALA2086866

Property Features

Appliances

Gas Water Heater

Cooling

Central Air · Gas

Heating

Natural Gas · Central

Parking

Private · Garage

Lot features

Corner Lot

Construction

Brick

Sewer

Public Sewer

Water source

Public

Schools

District

SCHOOL DISTRICT OF LANCASTER

Financial Details

Annual taxes

$1Tax year 2026

Assessed value

$1

Parcel number

336-09389-1-0001

Directions

From Penn Sq: Head North on Queen Street. Continue Straight for 2 blocks until you reach East Chestnut Street. Take a right onto East Chestnut. The property will be located on your left. North Duke and East Chestnut Streets. From Route 30 Fruitville Pike Exit: Take Fruitville Pike exit and continue straight until Fruitville Pike turns to North Prince Street. Continue straight on North Prince Street until your reach Chestnut Street. Take a left and the property is 2 blocks up on your left. Located at the corner of North Duke and East Chestnut Streets.