Mixed-Use Property with
For Sale
$369,000
559 Penn Avenue, Mayfield, PA 18433
COMMERCIAL - Mayfield, PA
Property Size3,800 SF
Lot Size0.74 Acres
Price / SF$97.11
Days on Market15
Property Features for 559 Penn Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
c
Zoning description
Commercial
Parking features
Parking Lot
Exterior features
Private Entrance, Rain Gutters, Private Yard
Elementary school district
Lakeland
Middle school district
Lakeland
High school district
Lakeland
Directions
Business route 6 to Mayfield. Lackawanna ave , right onto Chestnut, property on right.
Standard status
Active
APN
06417030001
Size
3,800 SF
Lot size
0.74 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
265X122x267x120 Bldg & Land W-03 B-0070 L-0040 P-00000
Tax Annual Amount
4489
Legal Description
265X122x267x120 Bldg & Land W-03 B-0070 L-0040 P-00000
Utilities
Heating system
Natural Gas, Coal, Baseboard, Electric (Heating), Coal Stove
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
paint booth
coal stove heat
reception/office area
rear office with half bathroom
paved parking lot
separate electric service
shared water
Building Details
Year built
1981
Floors in Building
2
Number of units
3
Flooring type
Concrete, Laminate, Tile - Ceramic
Building materials
Block, Vinyl Siding
Roof type
Composition
Listing Agency:
Ruddy Realty
(570) 282-4463
Listed By:
Mary Ruddy
(570) 280-0001
Added: Jul 29
Changed: Aug 10
Last Checked: Aug 11 at 11:06PM
MLS# SC263714
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 mixed-use property contains a 3,800-square-foot commercial garage with a paint booth, coal stove heat, customer reception and office space, plus a rear office with a half bathroom. The building also includes two residential apartments above the commercial area. One apartment has 1 bedroom, ceramic tile flooring, a soaker tub, bathroom laundry, and electric heat; the other offers 2 bedrooms, vinyl flooring, a full bathroom with laundry, and electric heat.
Set on 0.74 acres, the property provides a large paved parking lot and fenced yard for vehicle storage, equipment, inventory, or outdoor work areas. Vehicles can access the site from both the street and parking lot. Each apartment has separate electric service, while water service is shared. Additional features include public water, block and vinyl siding construction, composition roofing, and a 1981 build date.
Set on 0.74 acres, the property provides a large paved parking lot and fenced yard for vehicle storage, equipment, inventory, or outdoor work areas. Vehicles can access the site from both the street and parking lot. Each apartment has separate electric service, while water service is shared. Additional features include public water, block and vinyl siding construction, composition roofing, and a 1981 build date.
Key Highlights
- 3,800 square feet of mixed‑use space with a commercial garage and two residential apartments
- Commercial garage includes a paint booth, reception/office area, rear office, and half bathroom
- Two rented apartments: one 1‑bedroom unit and one 2‑bedroom unit
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
$31,337
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
8.49%
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%
$626,740
$626.7K
Cap Rate 7%
$447,671
$447.7K
Cap Rate 9%
$348,189
$348.2K
Market Conditions
NOI Build-Up for 3,800 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
$47.9K $12.60/SF
− Vacancy
−$3.1K −$0.82/SF
EGI
$44.8K $11.78/SF
− OpEx
−$13.4K −$3.53/SF
NOI
$31.3K $8.25/SF
Area
Lackawanna County, PA
Vacancy
6.50%
Lease Rate
$12.60 /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%
$626,740
Cap Rate 7%
$447,671
Cap Rate 9%
$348,189
Alternative Uses
Best Use
Mixed Use
$549.6K
$480.9K – $641.3K
NOI $38,475 @ 7.0% cap · market cap 10.43%
Second Best
Retail
$510.2K
$446.4K – $595.2K
NOI $35,711 @ 7.0% cap · market cap 9.68%
Theoretical Best
Office A
$964.5K
$844.0K – $1.13M
NOI $67,516 @ 7.0% cap · market cap 18.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 18433, PA
6,416
Population
3,390
Households
1.9
Avg Household Size
45
Median Age
31%
College-Educated
96%
High-School Grad
28.8 sq mi
ZIP Area
223
Density / Sq Mi
$76,847
Median Household Income
$57,924
Median Earnings
$929
Median Rent
$201,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned property combines an operating garage, two rented apartments, paved parking, and a fenced outdoor yard.
Where is this mixed-use property located?
The property is located at 559 Penn Avenue Mayfield, PA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 3,800 square feet of mixed‑use space with a commercial garage and two residential apartments; Commercial garage includes a paint booth, reception/office area, rear office, and half bathroom; Two rented apartments: one 1‑bedroom unit and one 2‑bedroom unit
