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39 E Chestnut St
For Sale $5,500,000
$5,500,000
- 4 Units
- Unknown Sq Ft
- Unknown Sq Ft
- Unknown Cap Rate
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.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $5,500,000 |
| Property Type | Office |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1954 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 3360938910001 |
| MLS # | PALA2086866 |
| Property ID | 322797663 |
| Lot Sqft | Unknown |
| Zoning | CBD |
| Total Units | 4 |
| Days on Market | 29 |
| Original List Price | Unknown |
| Date Updated | April 28, 2026 |
| Date Created | April 27, 2026 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Corinn E. Kirchner an agent of PPM Real Estate, Inc.. Lic #RM425642
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Data last updated: May 26, 2026.
Robert Crawford
REAL ESTATE AGENT