Open-Layout Office
For Sale
$299,900
620 W Main Street, Elkland, PA 16920
Commercial Sale, Elkland, PA
Property Size2,524 SF
Lot Size0.90 Acres
Price / SF$118.82
Days on Market55
Property Features for 620 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Northern Tioga
Middle school district
Northern Tioga
High school district
Northern Tioga
Subdivision
Tioga
Standard status
Active
Size
2,524 SF
Lot size
0.90 Acres
Amenities
kitchenette/break room
public restrooms
central air conditioning
two heating systems
Building Details
Year built
1975
Listing Agency:
Cowanesque Lake Realty LLC
(570) 944-0101
Listed By:
Brandon Hackett · License #10401336352
(570) 295-2697
Added: Jul 20
Changed: Sep 6
Last Checked: Sep 12 at 4:06AM
MLS# 31727836
Copyright © 2026 Northern Mountains of Pennsylvania 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 2,524-square-foot office property features an open interior that can be arranged for professional, retail, educational, religious, or community-oriented use. The building includes a kitchenette or break area, two bathrooms, central air conditioning, and two heating systems. A new roof adds a recent capital improvement to the existing structure, which was built in 1975.
The property occupies 0.9 acres at 620 W Main Street in Elkland, Pennsylvania, with a large paved parking area serving visitors, staff, or guests. Its zoning is described as offering residential or commercial flexibility, supporting both business occupancy and other permitted property uses.
The property occupies 0.9 acres at 620 W Main Street in Elkland, Pennsylvania, with a large paved parking area serving visitors, staff, or guests. Its zoning is described as offering residential or commercial flexibility, supporting both business occupancy and other permitted property uses.
Key Highlights
- 2,524 square feet on 0.9 acres
- Residential or commercial zoning flexibility
- Open‑concept interior with kitchenette or break area
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
$22,716
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
7.57%
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%
$454,320
$454.3K
Cap Rate 7%
$324,514
$324.5K
Cap Rate 9%
$252,400
$252.4K
Market Conditions
NOI Build-Up for 2,524 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
$37.9K $15.00/SF
− Vacancy
−$7.6K −$3.00/SF
EGI
$30.3K $12.00/SF
− OpEx
−$7.6K −$3.00/SF
NOI
$22.7K $9.00/SF
Area
Tioga County, PA
Vacancy
20.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$454,320
Cap Rate 7%
$324,514
Cap Rate 9%
$252,400
Alternative Uses
Best Use
Office B
$324.5K
$284.0K – $378.6K
NOI $22,716 @ 7.0% cap · market cap 7.57%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$430.0K
$376.2K – $501.6K
NOI $30,097 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 16920, PA
1,977
Population
880
Households
2.2
Avg Household Size
42
Median Age
16%
College-Educated
96%
High-School Grad
9.5 sq mi
ZIP Area
208
Density / Sq Mi
$63,977
Median Household Income
$49,375
Median Earnings
$864
Median Rent
$136,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Residential or commercial zoning accommodates a range of professional and community-oriented uses.
Where is this office units located?
The property is located at 620 W Main Street Elkland, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,524 square feet on 0.9 acres; Residential or commercial zoning flexibility; Open‑concept interior with kitchenette or break area
