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    Profitable Restaurant with Apartments Above Title is generated by Realmo AI

    650 Washington Avenue, Jermyn, PA 18433

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    For Sale
    $549,900

    Turnkey restaurant with apartments and parking in hometown setting.

    Type:Commercial/Industrial
    Property size:
    5,300 SF
    Lot size:
    0.46 Acres
    Price / SF:
    $103/SF
    Added:
    Mar 24, 2026
    Days on Market:
    51
    Last Refresh:
    Mar 13 at 9:34 am

    Property Features for 650 Washington Avenue

    General Information

    Standard status
    Active
    Size
    5,300 SF
    Lot size
    0.46 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1930

    We can help!

    Listing Contact
    Michael James Clark III

    Listing agent Michael James Clark III License #RS360251

    Listing office Cobblestone Real Estate LLC

    Listing date Mar 24, 2026

    Source Exitrealty

    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 Cobblestone Real Estate LLC

    HighLights

    • Fully functioning, immediately profitable, turnkey restaurant business with 50‑year history in the community.
    • Recent building updates including new HVAC, roof, windows, and siding, ensuring low maintenance for the next 20 years.
    • Includes adjacent parking lot with capacity for 35‑40 cars.
    • Sale includes all restaurant equipment, utensils, coolers, freezers, and fountains.
    • Three fully rented apartments above the restaurant provide additional income.
    • Current owner willing to assist with transition as employee or consultant.

    Overview

    This property presents an opportunity to acquire a fully operational and profitable restaurant business. The restaurant has been a community staple for 50 years, with the current owner maintaining and running the business for the last 20 years. The building, which can seat nearly 100 customers, has been updated with a new forced hot air, heat, and air conditioning system, a new roof, windows, and siding. The sale includes all restaurant equipment, utensils, coolers, freezers, and fountains. The property also includes a parking lot adjacent to the building with space for approximately 35 to 40 cars. Above the restaurant are three fully rented apartments with long-term tenants and below-market rents, including two one-bedroom, one-bathroom units and one two-bedroom, one-bathroom unit. The current owner is willing to assist with the transition as an employee or consultant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Breakfast & diners

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Similar Places Nearby

    • Longworth's Restaurant — 615 Washington Ave, Jermyn, PA 18433

    Location Insight

    • Map
    • Local Demand
    City
    Jermyn
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.5443624
    Latitude
    41.5321481

    Nearby Similar for Sale

    • $264,900
      7,000 SF

      Versatile Commercial Building in Jermyn

      7,000 SF commercial building with office and manufacturing space.
      503 Washington Avenue, 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
      View Details

    FAQs

    What type of property is this?
    Breakfast & diner - Turnkey restaurant with apartments and parking in hometown setting.
    Where is this breakfast & diner located?
    The property is located at 650 Washington Avenue Jermyn, PA.
    What is the asking price?
    The asking price for this property is $549,900.
    What are key features of this property?
    This property features: Fully functioning, immediately profitable, turnkey restaurant business with 50‑year history in the community.; Recent building updates including **new HVAC, roof, windows, and siding**, ensuring low maintenance for the next 20 years.; Includes adjacent parking lot with capacity for 35‑40 cars.
    (570) 500-5254
    We can help!
    Listing Contact
    Michael James Clark III
    Real Estate License ID: RS360251
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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