Mixed-Use Storefront
For Sale
$310,000
10 Casey Ave, Wilkes Barre Township, PA 18702
Vacant commercial storefront paired with a residential residence and dedicated off-street parking.
Property Size2,535 SF
Price / SF$122.29
Days on Market64
Property Features for 10 Casey Ave
General Information
Standard status
Active
Size
2,535 SF
Total Parking Spaces
8
Property subtype
Commercial
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Lewith & Freeman, Kingston
(570) 760-6539
Listed By:
Tina Aquilina
Source:
Nepahousehunt
Added: Jun 28
Changed: Aug 30
Last Checked: Aug 25 at 7:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lewith & Freeman, Kingston
Investment Insights
Based on property information with market context.
This mixed-use property combines a visible commercial storefront with a separate residential residence at the rear. The commercial component can accommodate retail, office, or service-based operations, while the residential space supports rental use, owner occupancy, or a live-work arrangement. Both portions are offered vacant, allowing immediate control of the occupancy plan.
Parking is provided through a dedicated commercial lot with 8 off-street spaces. The rear residence includes an attached one-car garage and 2 additional off-street parking spaces. The property is located in Wilkes-Barre Township, Pennsylvania, at 10 Casey Avenue.
Parking is provided through a dedicated commercial lot with 8 off-street spaces. The rear residence includes an attached one-car garage and 2 additional off-street parking spaces. The property is located in Wilkes-Barre Township, Pennsylvania, at 10 Casey Avenue.
Key Highlights
- Mixed‑use layout with commercial storefront and rear residential residence
- Storefront supports retail, office, or service‑based use
- Commercial parking lot with 8 off‑street spaces
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
$25,097
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
8.10%
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%
$501,940
$501.9K
Cap Rate 7%
$358,529
$358.5K
Cap Rate 9%
$278,856
$278.9K
Market Conditions
NOI Build-Up for 2,535 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
$45.6K $18.00/SF
− Vacancy
−$5.5K −$2.16/SF
EGI
$40.2K $15.84/SF
− OpEx
−$15.1K −$5.94/SF
NOI
$25.1K $9.90/SF
Area
Luzerne County, PA
Vacancy
12.00%
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%
$501,940
Cap Rate 7%
$358,529
Cap Rate 9%
$278,856
Alternative Uses
Best Use
Office B
$638.9K
$559.0K – $745.4K
NOI $44,722 @ 7.0% cap · market cap 14.43%
Second Best
Mixed Use
$358.5K
$313.7K – $418.3K
NOI $25,097 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$803.1K
$702.7K – $936.9K
NOI $56,216 @ 7.0% cap · market cap 18.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Explore this area
Business Placement
Demographics for 18702, PA
42,133
Population
19,738
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
87%
High-School Grad
78.1 sq mi
ZIP Area
539
Density / Sq Mi
$54,892
Median Household Income
$36,911
Median Earnings
$971
Median Rent
$115,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant commercial storefront paired with a residential residence and dedicated off-street parking.
Where is this mixed-use property located?
The property is located at 10 Casey Ave Wilkes Barre Township, PA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Mixed‑use layout with commercial storefront and rear residential residence; Storefront supports retail, office, or service‑based use; Commercial parking lot with 8 off‑street spaces
