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    650 Washington Ave Jermyn, PA 18433

    For Sale
    $585,000

    Turnkey Restaurant, 3 Apartments

    Property size:
    5,300 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    306
    This exceptional mixed-use property in Jermyn, PA, presents a rare opportunity for savvy investors and entrepreneurs. The 5,300 square foot building boasts a thriving, 50-year-old restaurant with seating for nearly 100 patrons. The restaurant is immediately profitable, having been meticulously maintained and updated by the same owner for the past 20 years. Recent improvements include a new forced hot air heating and air conditioning system, roof, windows, and siding, ensuring years of maintenance-free operation. All restaurant equipment, including coolers, freezers, and fountains, is included in the sale. A significant advantage is the current owner's willingness to assist with a smooth transition, offering their expertise as an employee or consultant. Adding to the investment potential, three fully rented apartments (two one-bedroom/one-bathroom and one two-bedroom/one-bathroom) are located above the restaurant, offering below-market rents and long-term tenants. The property also includes a spacious parking lot accommodating 35-40 vehicles, situated adjacent to the building. This 0.46-acre lot provides ample space for customers and residents. This turnkey operation offers immediate income streams from both the restaurant and rental units, making it an attractive and financially sound investment.

    Property Features for 650 Washington Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    5,300 SF
    Lot Size
    20,038 SF

    Building Details

    Year Built
    1930
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Jermyn
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.5443
    Latitude
    41.53214

    Nearby Comparable

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    Nearby Similar for Sale

    • $1,242,857
      14,500 SF

      Long-Term Bank Branch For Sale

      NNN leased bank branch with 5-year extension and annual increases.
      645 Washington Ave, Jermyn, PA 18433
      View Details
    • $850,000
      7,424 SF

      Retail Property in Jermyn, PA

      Retail property with 7,424 square feet of space.
      669 Washington Ave, Jermyn, PA 18433
      View Details
    • $375,000
      3,375 SF

      Jermyn Quadruplex - Fully Occupied

      Well-maintained, fully-occupied 4-unit property in a great location.
      440 Washington Ave, Jermyn, PA 18433
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    FAQs

    What type of property is this?
    Mixed-use property - Turnkey Restaurant, 3 Apartments
    Where is this mixed-use property located?
    The property is located at 650 Washington Ave Jermyn, PA.
    What is the asking price?
    The asking price for this property is $585,000.
    (570) 500-5254
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    650 Washington Ave Jermyn, PA 18433
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    Jermyn, PA 18433
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    Realmo Value Estimation

    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.

    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.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    650 Washington Ave Jermyn, PA 18433
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