Five-Unit Mixed-Use
For Sale
$400,000
Pending
696 Pennsylvania 590, Lackawaxen, PA 18435
Residential Income, Lackawaxen, PA
Property Size2,977 SF
Lot Size0.38 Acres
Days on Market72
Property Features for 696 Pennsylvania 590
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
5
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 1, Bathroom 3, Bedroom 4, Basement, Bedroom 3, Bathroom 4, Bathroom 5, Bathroom 1, Bathroom 2, Bedroom 5
Parking features
Parking Lot, Driveway
Window features
ENERGY STAR Qualified WIndows, Double Pane Windows
Patio and Porch features
Porch
Interior features
Beamed Ceilings, Walk-In Closet(s), Storage, Open Floorplan, On Site Septic, High Speed Internet, Built-in Features, Bookcases
Exterior features
Lighting, Storage, Rain Gutters, Private Entrance
Fireplace
1
Basement
Walk-Out Access, Storage Space, Dirt Floor, Full
Appliances
Electric Range, Water Heater, Refrigerator, Gas Range
Lot features
Back Yard, Sloped, Few Trees
Elementary school district
Wallenpaupack School District
Middle school district
Wallenpaupack School District
High school district
Wallenpaupack School District
Directions
From Hawley, PA (approximately 15 minutes):Take PA-590 East toward Lackawaxen. Continue on PA-590 for approximately 10 miles. The property at 696 PA-590 will be on your left, just before the center of Lackawaxen.
Standard status
Pending
APN
019.04-01-52 024576
Size
2,977 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3763
Utilities
Utilities
Cable Available
Sewer type
Engineered Septic
Heating system
Baseboard, Propane (Heating), Forced Air
Cooling system
Wall Unit(s), Window Unit(s)
Water source
Well
Building Details
Year built
1950
Floors in Building
2
Number of units
5
Flooring type
Hardwood
Building materials
Frame, Wood Siding
Roof type
Shingle, Asphalt
Additional Structures
Storage
Listing Agency:
Keller Williams Realty Hudson Valley United
(845) 610-6065
Listed By:
Amanda Brehm · License #00000
(845) 741-5608
Added: Jun 25
Changed: Sep 2
Last Checked: Sep 4 at 9:06AM
MLS# PW-262066
Copyright © 2026 Pike/Wayne Association 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 2,977-square-foot mixed-use property combines four residential apartments with an approximately 1,225-square-foot commercial storefront. The storefront is vacant and includes oak hardwood flooring, exposed wood beams, a stone wood-burning fireplace, bay display windows, a half bath, and an adjoining room with a private entrance. The additional room can connect to the storefront or function separately as office, retail, or storage space. A private two-bedroom apartment on the first floor includes its own entrance, kitchen, living room, full bath, and hardwood flooring.
The property occupies 0.38 acres at 696 Pennsylvania 590 in Lackawaxen, near the Roebling Bridge and Delaware River. On-site features include a parking lot, driveway, porch, well water, engineered septic, propane heating, wall and window cooling units, and cable availability. The four residential units are occupied, while the commercial space is available for an owner-user or a new tenant. Current operations reflect an approximate 3.74% cap rate; projected performance with the storefront leased is an approximate 6.98% pro forma cap rate.
The property occupies 0.38 acres at 696 Pennsylvania 590 in Lackawaxen, near the Roebling Bridge and Delaware River. On-site features include a parking lot, driveway, porch, well water, engineered septic, propane heating, wall and window cooling units, and cable availability. The four residential units are occupied, while the commercial space is available for an owner-user or a new tenant. Current operations reflect an approximate 3.74% cap rate; projected performance with the storefront leased is an approximate 6.98% pro forma cap rate.
Key Highlights
- Five‑unit mixed‑use property with four apartments and one commercial storefront
- 2,977 square feet on 0.38 acres at 696 Pennsylvania 590, Lackawaxen, PA 18435
- Approximately 1,225‑square‑foot vacant storefront with bay display windows and private‑entry adjoining room
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
$30,142
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
7.54%
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%
$602,840
$602.8K
Cap Rate 7%
$430,600
$430.6K
Cap Rate 9%
$334,911
$334.9K
Market Conditions
NOI Build-Up for 2,977 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
$53.6K $18.00/SF
− Vacancy
−$5.4K −$1.80/SF
EGI
$48.2K $16.20/SF
− OpEx
−$18.1K −$6.07/SF
NOI
$30.1K $10.13/SF
Area
Pike County, PA
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$602,840
Cap Rate 7%
$430,600
Cap Rate 9%
$334,911
Alternative Uses
Best Use
Mixed Use
$430.6K
$376.8K – $502.4K
NOI $30,142 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$419.5K
$367.1K – $489.4K
NOI $29,366 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$726.5K
$635.7K – $847.6K
NOI $50,854 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Explore this area
Business Placement
Demographics for 18435, PA
1,055
Population
1,569
Households
0.7
Avg Household Size
53
Median Age
51%
College-Educated
94%
High-School Grad
12.5 sq mi
ZIP Area
84
Density / Sq Mi
$97,924
Median Household Income
$46,552
Median Earnings
$317,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with four apartments and a vacant commercial storefront along PA-590.
Where is this mixed-use property located?
The property is located at 696 Pennsylvania 590 Lackawaxen, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Five‑unit mixed‑use property with four apartments and one commercial storefront; 2,977 square feet on 0.38 acres at 696 Pennsylvania 590, Lackawaxen, PA 18435; Approximately 1,225‑square‑foot vacant storefront with bay display windows and private‑entry adjoining room
