Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Renovated Multifamily Investment Opportunity Title is generated by Realmo AI

    2-4 S Empire Street, Wilkes Barre, PA 18702

    View on Map
    Claim this Listing
    For Sale
    $1,000,000

    Commercial - Wilkes-Barre, PA

    Property size:
    7,200 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $138/SF
    Added:
    Apr 15, 2026
    Days on Market:
    33
    Last Refresh:
    May 17 at 2:06 am

    Property Features for 2-4 S Empire Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Multi-Family
    Bathrooms
    8
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5
    Parking
    1
    Parking features
    Garage
    Interior features
    Basement, Turnkey Operation
    Standard status
    Active
    APN
    I10NW100615A
    Size
    7,200 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7434.88

    Utilities

    Heating system
    Baseboard, Electric (Heating), Natural Gas
    Cooling system
    None (Cooling)

    Building Details

    Floors in Building
    2
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Angelo Alba

    Listing agent Angelo Alba License #RS373485

    Listing office Jonathan J. Nelson Real Estate 9 N. Main Street, Pittston, PA

    Listing date Apr 15, 2026

    MLS# 26-1186 Listing URL

    Copyright © 2026 Luzerne County Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully renovated 8‑unit apartment building: Turn‑key property with updated interiors.
    • Excellent investment opportunity for dependable income.
    • Strong rental appeal driving steady occupancy.
    • Reduced near‑term expenses and simplified ownership.
    • Brick construction.
    • Garage parking.

    Overview

    This fully renovated 8-unit apartment building presents an investment opportunity. The property features updated interiors and improved systems, designed to enhance rental appeal and maintain steady occupancy. The 7,200 square-foot building is located in Wilkes-Barre, Pennsylvania, in Luzerne County. Situated on a 0.19-acre lot, the property is zoned for multi-family use. The completed renovations aim to reduce immediate expenses and streamline ownership, potentially offering dependable income and long-term financial benefits.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $598.8K
    NOI $53,891 @ 9.00% cap · cautious / downside scenario
    Moderate
    $769.9K
    NOI $53,891 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.08M
    NOI $53,891 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $106.3k $14.76
    − Vacancy −$8.3k −$1.15
    EGI $98.0k $13.61
    − OpEx −$44.1k −$6.12
    NOI $53.9k $7.48
    7,200 SF · lease $14.76/SF/yr · vacancy 7.80% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $769.9K
    $673.6K – $898.2K (±1% cap)
    NOI $53,891 @ 7.0% cap · market cap 5.39%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $2.28M
    $2.00M – $2.66M (±1% cap)
    NOI $159,667 @ 7.0% cap · market cap 15.97%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilkes Barre
    County
    Luzerne
    State
    Pennsylvania
    Longitude
    -75.870792
    Latitude
    41.235613

    Nearby Similar for Sale

    • $435,000
      3,350 SF

      Turnkey Restaurant/Bar with Apartments

      Renovated restaurant/bar with apartments near Mohegan Sun Casino.
      20 School Street, Wilkes-Barre, PA 18705
      View Details
    • $499,000
      6,098 SF

      Well-Maintained Multifamily Investment Opportunity

      Fully rented 6-unit building near highways, schools, and shopping.
      111 Old River Road, Wilkes-Barre, PA 18702
      View Details
    • $250,000
      1,000 SF

      Commercial Building in Wilkes-Barre

      Commercial building for sale, currently operating as a pizza restaurant.
      13 Woodward Street, Wilkes-Barre, PA 18705
      View Details
    • $1,200,000
      10,400 SF

      Eight-Unit Townhouse Portfolio

      Tenant-occupied, townhouse-style units with private entrances and garage parking.
      40 S Hancock Street, Wilkes-Barre, PA 18702
      View Details
    • $350,000
      8,400 SF

      Wilkes-Barre Multifamily Investment Opportunity

      Five-unit multifamily property in Wilkes-Barre, Pennsylvania, requiring renovations.
      143-145 Parrish Street, Wilkes-Barre, PA 18702
      View Details
    • $295,000
      1,742 SF

      Operating Repair Garage with House

      Fully operational repair garage with adjacent house in prime location.
      531 N Pennsylvania Avenue, Wilkes-Barre, PA 18705
      View Details
    • $149,900
      2,800 SF

      Wilkes Barre Multifamily Rehab Opportunity

      Multifamily property in Wilkes Barre, PA, ideal for rehabilitation.
      98 Brookside Street, Wilkes Barre, PA 18705
      View Details
    • $524,900
      3,095 SF

      Wilkes-Barre Multifamily Investment Opportunity

      Two fully occupied properties, a strategic investment for cash flow.
      681 Hazle Street, Wilkes-Barre, PA 18702
      View Details
    • $465,000
      4,207 SF

      Wilkes-Barre Multifamily Investment Opportunity

      Four-unit multifamily property in Wilkes-Barre with investment or owner-occupant potential.
      51-53 S Welles Street, Wilkes-Barre, PA 18702
      View Details
    • $899,999
      87,000 SF

      Wilkes-Barre Warehouse Redevelopment Opportunity

      Two-story, 87,000 SF warehouse for renovation or redevelopment.
      173 Gilligan Street, Wilkes-Barre, PA 18702
      View Details
    • $189,000
      2,720 SF

      Wilkes-Barre Duplex Investment Opportunity

      Duplex in Wilkes-Barre with high rental and equity potential.
      119-121 Wyoming Street, Wilkes Barre, PA 18705
      View Details
    • $194,900
      3,150 SF

      Turnkey Duplex in Wilkes Barre

      Side-by-side duplex with upside potential near amenities.
      10 Beekman Street, Wilkes Barre, PA 18702
      View Details

    FAQs

    What type of property is this?
    Apartment building - Turn-key, renovated 8-unit apartment building in Wilkes-Barre, Pennsylvania.
    Where is this apartment building located?
    The property is located at 2-4 S Empire Street Wilkes Barre, PA.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Fully renovated 8‑unit apartment building: Turn‑key property with updated interiors.; Excellent investment opportunity for dependable income.; Strong rental appeal driving steady occupancy.
    (570) 905-7828
    We can help!
    Listing Contact
    Angelo Alba
    Real Estate License ID: RS373485
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2-4 S Empire Street, Wilkes-Barre, PA 18702
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!