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 Market30
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
(570) 823-1100
Listed By:
Julia Namutka · License #RS292701
(570) 823-1100
Source:
Exprealty
Added: Jul 18
Changed: Aug 13
Last Checked: Aug 16 at 9:24AM
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 = 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
$29,347
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
2.95%
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%
$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
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
$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 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%
$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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
