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    Turnkey Restaurant/Bar with Apartments Title is generated by Realmo AI

    20 School Street, Wilkes Barre, PA 18705

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    For Sale
    $435,000

    Commercial - Wilkes-Barre, PA

    Property size:
    3,350 SF
    Lot size:
    0.52 Acres
    Price / SF:
    $129/SF
    Added:
    May 14, 2026
    Days on Market:
    12
    Last Refresh:
    May 25 at 8:06 pm

    Property Features for 20 School Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Parking
    30
    Security features
    Fire Alarm
    Interior features
    Basement, Turnkey Operation, Storage - Inside, Smoke/Fire Alarm, Rest Rooms, Refrigerated Space, Prime Location, Handicap Features, Freezer Space, Fire Alarm, Established Business, Emergency Lighting
    Exterior features
    Exterior Signage
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    G11NW Block 5 Lots 4,,11,12,15
    Size
    3,350 SF
    Lot size
    0.52 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5841.12

    Utilities

    Heating system
    Electric (Heating), Forced Air, Hot Water (Heating), Natural Gas, Other (Heating)
    Cooling system
    Ductless

    Building Details

    Floors in Building
    2
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    David Magda

    Listing agent David Magda License #RS334204

    Listing office Rubbico Real Estate 12 West Carey St, Plains, PA

    Listing date May 14, 2026

    MLS# 25-5468 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

    • Turnkey Operating Restaurant/Bar
    • Two Newly Renovated, Fully Rented Apartments
    • Large Pavilion with Seating
    • Prime Location: Just 1 Mile from Mohegan Sun Casino
    • 30+ Parking Spaces
    • All New Heating and Electric Systems

    Overview

    This commercial property features a newly renovated, turnkey operating restaurant and bar, along with two newly renovated apartments that are currently fully rented. The property includes a large pavilion with seating and over 30 parking spaces. All heating systems and electric have been recently updated. The property is located approximately one mile from the Mohegan Sun Casino. The property size is 3,350 square feet and the lot size is 0.52 acres. The zoning is commercial.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $401.2K
    NOI $36,105 @ 9.00% cap · cautious / downside scenario
    Moderate
    $515.8K
    NOI $36,105 @ 7.00% cap · market / base-case scenario
    Aggressive
    $722.1K
    NOI $36,105 @ 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 Specialty Retail

    Component $ $/SF
    Gross rent $50.3k $15.00
    − Vacancy −$2.1k −$0.63
    EGI $48.1k $14.37
    − OpEx −$12.0k −$3.59
    NOI $36.1k $10.78
    3,350 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $515.8K
    $451.3K – $601.8K (±1% cap)
    NOI $36,105 @ 7.0% cap · market cap 8.30%
    Second Best
    Apartment 5plus
    $358.2K
    $313.4K – $417.9K (±1% cap)
    NOI $25,074 @ 7.0% cap · market cap 5.76%
    Theoretical Best
    Office A
    $1.06M
    $928.6K – $1.24M (±1% cap)
    NOI $74,290 @ 7.0% cap · market cap 17.08%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Skylight Bar restaurant Bar & Pub

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Kitchen & Bath Showroom

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

    Similar Places Nearby

    • The Hive Taphouse — 1280 PA-315, Wilkes-Barre, PA 18702
    • UNIBET Sportsbook at Mohegan Pennsylvania — 1280 PA-315, Wilkes-Barre, PA 18702
    • Molly O'Sheas — 1280 PA-315, Wilkes-Barre, PA 18702
    • Embers Terrace — 1280 PA-315, Wilkes-Barre, PA 18702
    • Cracker Jack — 378 E Main St, Wilkes-Barre, PA 18705

    Location Insight

    • Map
    • Local Demand
    City
    Wilkes Barre
    County
    Luzerne
    State
    Pennsylvania
    Longitude
    -75.829668
    Latitude
    41.275054

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    FAQs

    What type of property is this?
    Bar & Pub - Renovated restaurant/bar with apartments near Mohegan Sun Casino.
    Where is this bar & pub located?
    The property is located at 20 School Street Wilkes Barre, PA.
    What is the asking price?
    The asking price for this property is $435,000.
    What are key features of this property?
    This property features: Turnkey Operating Restaurant/Bar; Two Newly Renovated, Fully Rented Apartments; Large Pavilion with Seating
    (570) 881-7877
    We can help!
    Listing Contact
    David Magda
    Real Estate License ID: RS334204
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    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.

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