Heated Flex Space with
For Sale
$369,000
126 Grandview Ave, Honesdale, PA 18431
Heated open commercial space includes a detached storage building and recently upgraded core systems.
Property Size2,400 SF
Price / SF$153.75
Days on Market110
Property Features for 126 Grandview Ave
General Information
Standard status
Active
Size
2,400 SF
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,140
Building Details
Buildings
2
Listing Agency:
Davis R. Chant - Honesdale
(570) 253-4191
Listed By:
Connie Petraitis · License #RS147120A
(570) 253-4191
Source:
Exprealty
Added: Apr 24
Changed: Aug 11
Last Checked: Aug 11 at 5:57AM
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 Davis R. Chant - Honesdale
Investment Insights
Based on property information with market context.
This flex property combines 2,400 square feet of heated open space with a separate 700-square-foot building containing two vehicle bays for storage. Recent work includes updates to the roof, windows, and electrical system. Central water, sewer, and natural gas serve the property.
The site is positioned along Route 6 in Honesdale, with reported traffic of 18,000 cars per day. The property information identifies potential applications including health facilities, medical practices, warehouse operations, and retail use. Honesdale is described as the county seat and has a hospital, providing additional community context for commercial occupancy.
The site is positioned along Route 6 in Honesdale, with reported traffic of 18,000 cars per day. The property information identifies potential applications including health facilities, medical practices, warehouse operations, and retail use. Honesdale is described as the county seat and has a hospital, providing additional community context for commercial occupancy.
Key Highlights
- 2,400 SF of heated open commercial space
- Detached 700 SF storage building with 2‑car capacity
- 18,000‑car‑per‑day traffic count on Route 6
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
$33,942
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
9.20%
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%
$678,840
$678.8K
Cap Rate 7%
$484,886
$484.9K
Cap Rate 9%
$377,133
$377.1K
Market Conditions
NOI Build-Up for 2,400 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
$64.8K $27.00/SF
− Vacancy
−$8.2K −$3.43/SF
EGI
$56.6K $23.57/SF
− OpEx
−$22.6K −$9.43/SF
NOI
$33.9K $14.14/SF
Area
Wayne County, PA
Vacancy
12.70%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$678,840
Cap Rate 7%
$484,886
Cap Rate 9%
$377,133
Alternative Uses
Best Use
Healthcare Medical
$484.9K
$424.3K – $565.7K
NOI $33,942 @ 7.0% cap · market cap 9.20%
Second Best
Office B
$480.1K
$420.1K – $560.1K
NOI $33,604 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$585.2K
$512.1K – $682.8K
NOI $40,965 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 18431, PA
12,602
Population
6,217
Households
2
Avg Household Size
47
Median Age
24%
College-Educated
90%
High-School Grad
134.8 sq mi
ZIP Area
93
Density / Sq Mi
$55,323
Median Household Income
$33,298
Median Earnings
$1,013
Median Rent
$222,000
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?
Flex space - Heated open commercial space includes a detached storage building and recently upgraded core systems.
Where is this flex space located?
The property is located at 126 Grandview Ave Honesdale, PA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 2,400 SF of heated open commercial space; Detached 700 SF storage building with 2‑car capacity; 18,000‑car‑per‑day traffic count on Route 6
