Flex Space with Private
For Sale
$329,000
15924 Sr 407, Fleetville, PA 18420
Commercial Sale, Fleetville, PA
Property Size4,025 SF
Lot Size1.75 Acres
Price / SF$81.74
Days on Market18
Property Features for 15924 Sr 407
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Parking features
Off Street
Exterior features
Private Entrance
Elementary school district
Lackawanna Trail
Middle school district
Lackawanna Trail
High school district
Lackawanna Trail
Directions
From Clarks Summit, SR 407 towards Fleetville 7.4 miles turn (R) property on left.
Standard status
Active
APN
02903020019
Size
4,025 SF
Lot size
1.75 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
30X215x102x165x132x379 W-01 B-551 L-007 P-000
Tax Annual Amount
4875
Legal Description
30X215x102x165x132x379 W-01 B-551 L-007 P-000
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Oil, Forced Air
Cooling system
Central Air
Water source
Well
Amenities
open floor plan
vaulted ceilings
kitchen
bathrooms
oversized exterior door
Building Details
Year built
1970
Floors in Building
1
Number of units
1
Flooring type
Linoleum, Carpet, Laminate, Combination
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
CLASSIC PROPERTIES
(570) 587-7000
Listed By:
Steven E Farrell
(570) 587-7000
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 29 at 3:06AM
MLS# SC263955
Copyright © 2026 Greater Scranton Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,025-square-foot flex property on approximately 1.75 acres includes an adaptable two-level layout. The lower level contains a shipping department, oversized exterior door, kitchen, and bathrooms. Upstairs, the building provides private offices, broad open space, vaulted ceilings, and separate men’s and ladies’ rooms. A private entrance, off-street parking, vinyl siding, composition roofing, central air, and oil-fired forced-air heat are among the property features.
Built in 1970 and zoned Commercial, the property is currently used as a business headquarters. The site is served by a well and septic tank, with cable available. Its configuration supports a range of business operations requiring a combination of office, shipping, storage, and open work areas.
Built in 1970 and zoned Commercial, the property is currently used as a business headquarters. The site is served by a well and septic tank, with cable available. Its configuration supports a range of business operations requiring a combination of office, shipping, storage, and open work areas.
Key Highlights
- 4,025 SF commercial flex property on approximately 1.75 acres
- Two‑level layout with private offices, open areas, and vaulted ceilings
- Lower level includes shipping department and oversized exterior door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,485
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$469,700
$469.7K
Cap Rate 7%
$335,500
$335.5K
Cap Rate 9%
$260,944
$260.9K
Market Conditions
NOI Build-Up for 4,025 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$35.5K $8.83/SF
− Vacancy
−$2.0K −$0.49/SF
EGI
$33.6K $8.34/SF
− OpEx
−$10.1K −$2.50/SF
NOI
$23.5K $5.83/SF
Area
Lackawanna County, PA
Vacancy
5.60%
Lease Rate
$8.83 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$469,700
Cap Rate 7%
$335,500
Cap Rate 9%
$260,944
Alternative Uses
Best Use
Office B
$738.9K
$646.6K – $862.1K
NOI $51,724 @ 7.0% cap · market cap 15.72%
Second Best
Industrial
$335.5K
$293.6K – $391.4K
NOI $23,485 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$1.02M
$893.9K – $1.19M
NOI $71,513 @ 7.0% cap · market cap 21.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18420, PA
169
Population
80
Households
2.1
Avg Household Size
51
Median Age
17%
College-Educated
100%
High-School Grad
1.6 sq mi
ZIP Area
106
Density / Sq Mi
$70,000
Median Household Income
$225,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial property with flexible open areas, private offices, parking, and space for headquarters or operational uses.
Where is this flex space located?
The property is located at 15924 Sr 407 Fleetville, PA.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 4,025 SF commercial flex property on approximately 1.75 acres; Two‑level layout with private offices, open areas, and vaulted ceilings; Lower level includes shipping department and oversized exterior door
