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    Mixed-Use Investment Property Title is generated by Realmo AI

    304 Drinker Turnpike, Covington Township, PA 18424

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    For Sale
    $574,500

    COMMERCIAL - Covington Township, PA

    Property size:
    6,568 SF
    Lot size:
    1.93 Acres
    Price / SF:
    $87/SF
    Added:
    Apr 13, 2026
    Days on Market:
    51
    Last Refresh:
    Jun 2 at 7:06 pm

    Property Features for 304 Drinker Turnpike

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    10
    Exterior features
    Playground, Fire Pit, Private Yard
    Basement
    Full, Unfinished
    Standard status
    Active
    APN
    22701010004
    Size
    6,568 SF
    Lot size
    1.93 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    200X470x150x171x35x300 W-01 B-014 L-013
    Tax Annual Amount
    8849

    Utilities

    Sewer type
    Septic Tank, Public Sewer
    Heating system
    Baseboard, Hot Water(Heating), Propane (Heating), Oil, Forced Air
    Cooling system
    Window Unit(s), Ceiling Fan(s)
    Water source
    Well

    Building Details

    Year built
    1987
    Floors in Building
    2
    Flooring type
    Carpet, Hardwood, Tile, Vinyl
    Building materials
    Aluminum Siding, Stucco, Vinyl Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Christopher Troxell

    Listing agent Christopher Troxell License #RS340308

    Listing office Keller Williams Real Estate - Allentown 1605 N Cedar Crest Blvd Suite 309, Allentown, PA

    Listing date Apr 13, 2026

    MLS# PM-140321

    Copyright © 2026 Pocono Mountains 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

    • Main 6,000+ SF building with renovated apartments plus commercial space (previously a daycare)
    • Separate 1‑bedroom cottage provides an additional rental unit
    • On well water with septic tank and public sewer available
    • Year built 1987; shingle roof with aluminum, stucco, and vinyl siding
    • Multiple heating types including forced air, hot water, propane, and oil
    • Outdoor features include a private yard, fire pit, and playground

    Overview

    This mixed-use property includes a main 6,000+ square foot building with renovated apartments and commercial space that was previously operated as a daycare, creating flexibility for a range of business or community uses. In addition, there is a separate 1-bedroom cottage that can support further rental income or accommodate an owner-occupant who wants to live in one unit while renting the others. Together, the residential and commercial components provide a value-add framework suited to investors seeking multiple income streams.

    The property is located along Route 435 in Covington Township, PA, with convenient access to Interstates 380, 84, and 81. It is described as being just minutes from Gouldsboro State Park and Kalahari Waterpark, placing the asset in a high-demand recreational area with strong visibility and practical connectivity for tenants and visitors.

    From a tenant and operator perspective, the combination of renovated apartments and adaptable commercial space may appeal to investors targeting long-term rental income, as well as those exploring short-term rental strategies subject to township regulations and approvals. The presence of the separate cottage can also support diversified occupancy plans while allowing an owner the option to reduce reliance on external property management by occupying one unit.
    Property Profile Location Intelligence

    Current Use by Public Records

    Day care centers

    Suggested Use

    Restaurant Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Auto Parts Store Nail Salon Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington Township
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.505665
    Latitude
    41.271739

    FAQs

    What type of property is this?
    Mixed-use property - Multi-unit building with commercial space and an additional cottage, offering flexible income and owner-occupant options.
    Where is this mixed-use property located?
    The property is located at 304 Drinker Turnpike Covington Township, PA.
    What is the asking price?
    The asking price for this property is $574,500.
    What are key features of this property?
    This property features: Main 6,000+ SF building with renovated apartments plus commercial space (previously a daycare); Separate 1‑bedroom cottage provides an additional rental unit; On well water with septic tank and public sewer available
    (610) 435-1800
    We can help!
    Listing Contact
    Christopher Troxell
    Real Estate License ID: RS340308
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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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