Retail and Warehouse Flex
For Sale
$475,000
Pending
1548 Highway 315 Blvd, Wilkes Barre, PA 18702
Block-built flex building combines retail and warehouse areas with 13' to 16' ceiling heights and overhead doors rated for 13' to 16'.
Property Size9,424 SF
Lot Size1.14 Acres
Days on Market2777
Property Features for 1548 Highway 315 Blvd
General Information
Standard status
Pending
Size
9,424 SF
Lot size
1.14 Acres
Additional Details
Clear Height
16 ft
Taxes and HOA fees
Annual Taxes
$9,023
Listing Agency:
Atlas Realty Inc
(570) 650-8673
Listed By:
Carmen Winters
(570) 650-8673
Source:
Exprealty
Added: Jan 22, 2019
Changed: Aug 25
Last Checked: Aug 29 at 1:12PM
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 Atlas Realty Inc
Investment Insights
Based on property information with market context.
A block-built commercial flex building that combines retail and warehouse space. The property was last used as a retail location and includes ceiling heights ranging from 13' to 16' and overhead door clearances also ranging from 13' to 16'.
Situated on Highway 315 in Wilkes-Barre, the site is positioned near Mohegan Sun casino, the Wilkes-Barre shopping district, I-81, and the PA Turnpike.
The total property size is 1.14 acres, offering a single block structure suitable for a variety of commercial uses.
Situated on Highway 315 in Wilkes-Barre, the site is positioned near Mohegan Sun casino, the Wilkes-Barre shopping district, I-81, and the PA Turnpike.
The total property size is 1.14 acres, offering a single block structure suitable for a variety of commercial uses.
Key Highlights
- 1.14‑acre commercial property on Hwy 315 near Mohegan Sun casino, the Wilkes‑Barre shopping district, I‑81, and the PA Turnpike
- Block‑built flex building with both retail and warehouse space; last used as a retail location
- Building size listed as 9,464 sq ft (block construction) with ceiling heights of 13' to 16'
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
$40,247
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
8.47%
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%
$804,940
$804.9K
Cap Rate 7%
$574,957
$575.0K
Cap Rate 9%
$447,189
$447.2K
Market Conditions
NOI Build-Up for 9,424 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
$65.6K $6.96/SF
− Vacancy
−$3.7K −$0.39/SF
EGI
$61.9K $6.57/SF
− OpEx
−$21.7K −$2.30/SF
NOI
$40.2K $4.27/SF
Area
Luzerne County, PA
Vacancy
5.60%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
35.00%
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%
$804,940
Cap Rate 7%
$574,957
Cap Rate 9%
$447,189
Alternative Uses
Best Use
Retail
$1.12M
$979.6K – $1.31M
NOI $78,370 @ 7.0% cap · market cap 16.50%
Second Best
Warehouse
$959.3K
$839.4K – $1.12M
NOI $67,149 @ 7.0% cap · market cap 14.14%
Theoretical Best
Office A
$2.99M
$2.61M – $3.48M
NOI $208,987 @ 7.0% cap · market cap 44.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18702, PA
42,133
Population
19,738
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
87%
High-School Grad
78.1 sq mi
ZIP Area
539
Density / Sq Mi
$54,892
Median Household Income
$36,911
Median Earnings
$971
Median Rent
$115,700
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Block-built flex building combines retail and warehouse areas with 13' to 16' ceiling heights and overhead doors rated for 13' to 16'.
Where is this flex space located?
The property is located at 1548 Highway 315 Blvd Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1.14‑acre commercial property on Hwy 315 near Mohegan Sun casino, the Wilkes‑Barre shopping district, I‑81, and the PA Turnpike; Block‑built flex building with both retail and warehouse space; last used as a retail location; Building size listed as 9,464 sq ft (block construction) with ceiling heights of 13' to 16'
