Flex Space Building with Overhead
For Sale
$289,900
2362 Pumpkin Hill Road, Millerton, PA 16936
CommercialSale, Millerton, PA
Property Size4,800 SF
Lot Size9.51 Acres
Price / SF$60.40
Days on Market139
Property Features for 2362 Pumpkin Hill Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
303
Zoning description
Commercial
Parking
10
Parking features
Driveway
Lot features
Irregular Lot
Elementary school district
Northern Tioga - PA
Middle school district
Northern Tioga - PA
High school district
Northern Tioga - PA
Directions
From Route 328 in Millerton, Jobs Corner, turn onto Pumpkin Hill Road and continue approximately 2-2.5 miles. Property will be on the right. Watch for sign
Subdivision
Jackson Township PA-750300
Standard status
Active
APN
17/06.00/088A//000
Size
4,800 SF
Lot size
9.51 Acres
Taxes and HOA fees
Tax Annual Amount
4063
Utilities
Heating system
Radiant
Water source
Well
Amenities
high-speed internet
Building Details
Year built
2012
Floors in Building
2
Number of units
1
Flooring type
Concrete
Building materials
Frame
Roof type
Metal
Listing Agency:
Howard Hanna Corning
(607) 936-4663
Listed By:
Joshua White · License #10401311637
(607) 207-6969
Added: Apr 19
Changed: Aug 19
Last Checked: Sep 4 at 10:06AM
MLS# R1674693
Copyright © 2026 New York State Alliance of MLSs, LLC. 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.
Set on 9.51 acres, this flex property includes a 4,800-square-foot metal building constructed in 2012. The approximately 60-by-80-foot structure has three 14-foot overhead doors, finished office space, concrete flooring, radiant heat, and additional upper-level area for storage or future buildout. A 400-amp electric service supports commercial operations, while high-speed internet is available at the property.
The site has frontage on two roads, a drilled well, driveway parking, and access to Elmira, Troy, and Mansfield. A completed perc test provides septic planning information, although septic has not been installed. Zoning is identified as 303. Existing office areas may be adaptable for living quarters, and the building may support a barndominium-style residential conversion, subject to approvals.
The site has frontage on two roads, a drilled well, driveway parking, and access to Elmira, Troy, and Mansfield. A completed perc test provides septic planning information, although septic has not been installed. Zoning is identified as 303. Existing office areas may be adaptable for living quarters, and the building may support a barndominium-style residential conversion, subject to approvals.
Key Highlights
- 9.51‑acre flex property with 4,800 sq ft metal building
- 60x80 (approx. 4,800 sq ft) building constructed in 2012
- Three 14' overhead doors and finished office space
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
$26,490
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
9.14%
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%
$529,800
$529.8K
Cap Rate 7%
$378,429
$378.4K
Cap Rate 9%
$294,333
$294.3K
Market Conditions
NOI Build-Up for 4,800 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
$42.0K $8.76/SF
− Vacancy
−$4.2K −$0.88/SF
EGI
$37.8K $7.88/SF
− OpEx
−$11.4K −$2.37/SF
NOI
$26.5K $5.52/SF
Area
Luzerne County, PA
Vacancy
10.00%
Lease Rate
$8.76 /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%
$529,800
Cap Rate 7%
$378,429
Cap Rate 9%
$294,333
Alternative Uses
Best Use
Warehouse
$488.6K
$427.5K – $570.0K
NOI $34,201 @ 7.0% cap · market cap 11.80%
Second Best
Industrial
$378.4K
$331.1K – $441.5K
NOI $26,490 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,445 @ 7.0% cap · market cap 36.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 16936, PA
2,111
Population
1,038
Households
2
Avg Household Size
49
Median Age
16%
College-Educated
93%
High-School Grad
47.6 sq mi
ZIP Area
44
Density / Sq Mi
$56,958
Median Household Income
$41,147
Median Earnings
$932
Median Rent
$166,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Metal commercial structure with finished offices, upper-level storage, and frontage along two roads.
Where is this flex space located?
The property is located at 2362 Pumpkin Hill Road Millerton, PA.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 9.51‑acre flex property with 4,800 sq ft metal building; 60x80 (approx. 4,800 sq ft) building constructed in 2012; Three 14' overhead doors and finished office space
