Five-Unit Strip
For Sale
$995,000
1071 State Route 940, Hazle Township, PA 18202
Fully occupied commercial center with four income-producing units and one owner-occupied space.
Property Size3,529 SF
Lot Size1.47 Acres
Price / SF$281.95
Days on Market84
Property Features for 1071 State Route 940
General Information
Standard status
Active
Size
3,529 SF
Lot size
1.47 Acres
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$4,229
Building Details
Tenancy
Multi
Listing Agency:
Mericle Commercial Real Estate Services
Listed By:
Julia Namutka · License #RS292701
(570) 823-1100
Source:
Exprealty
Added: Jul 18
Changed: Oct 8
Last Checked: Oct 7 at 12:31PM
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 Mericle Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This strip center contains five commercial units totaling 3,529± square feet on 1.47± acres. All five spaces are occupied by businesses, with four units producing rental income and the remaining unit used by the owner.
Located at 1071 State Route 940 in Hazle Township, PA, the property offers a combination of income-producing occupancy and an owner-use component within one commercial asset. The owner-occupied space may continue serving the current business, be used by a future owner, or be leased separately.
Located at 1071 State Route 940 in Hazle Township, PA, the property offers a combination of income-producing occupancy and an owner-use component within one commercial asset. The owner-occupied space may continue serving the current business, be used by a future owner, or be leased separately.
Key Highlights
- Five‑unit commercial strip center
- 3,529± square feet on 1.47± acres
- Fully occupied by five businesses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,347
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,940
$586.9K
Cap Rate 7%
$419,243
$419.2K
Cap Rate 9%
$326,078
$326.1K
Market Conditions
NOI Build-Up for 3,529 SF
Gross rent
$46.6K $13.20/SF
− Vacancy
−$4.7K −$1.32/SF
EGI
$41.9K $11.88/SF
− OpEx
−$12.6K −$3.56/SF
NOI
$29.3K $8.32/SF
Area
Luzerne County, PA
Vacancy
10.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,940
Cap Rate 7%
$419,243
Cap Rate 9%
$326,078
Alternative Uses
Best Use
Retail
$419.2K
$366.8K – $489.1K
NOI $29,347 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$978.2K – $1.30M
NOI $78,259 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
Explore this area
Business Placement
Demographics for 18202, PA
13,894
Population
6,036
Households
2.3
Avg Household Size
42
Median Age
21%
College-Educated
88%
High-School Grad
35.0 sq mi
ZIP Area
397
Density / Sq Mi
$55,517
Median Household Income
$35,330
Median Earnings
$1,029
Median Rent
$182,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied commercial center with four income-producing units and one owner-occupied space.
Where is this strip mall located?
The property is located at 1071 State Route 940 Hazle Township, PA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Five‑unit commercial strip center; 3,529± square feet on 1.47± acres; Fully occupied by five businesses
