Flex Office with Warehouse
For Sale
Contact for pricing
682 Tunkhannock Avenue, Exeter, PA 18643
Mixed-use building featuring professional office space plus a large warehouse/garage and ample parking for customers and staff.
Property Size2,500 SF
Price / SF$110
Days on Market647
Property Features for 682 Tunkhannock Avenue
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Special Purpose
Listing Agency:
Coldwell Banker Town & Country Real Estate
Listed By:
Kimberly Schwartz · License #RS340786
Source:
Crexi
Added: Nov 27, 2024
Changed: Sep 2
Last Checked: Sep 4 at 10:37PM
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 Coldwell Banker Town & Country Real Estate
Investment Insights
Based on property information with market context.
This mixed-use commercial building is currently configured as professional offices alongside a large warehouse/garage. The property combines office use with an industrial-style space designed for storage and light operations, supporting flexible day-to-day needs on the same site.
Directions listed for access include traveling from Route 309 to Exit 4, then R onto Rutter Ave., L onto River St, R onto Wyoming Ave., and L onto Tunkhannock Ave. The public remarks also describe the property as being in a high-traffic location with plenty of parking.
The warehouse/garage is noted as measuring 60 x 90, and the overall offering is presented for sale by a motivated seller.
Directions listed for access include traveling from Route 309 to Exit 4, then R onto Rutter Ave., L onto River St, R onto Wyoming Ave., and L onto Tunkhannock Ave. The public remarks also describe the property as being in a high-traffic location with plenty of parking.
The warehouse/garage is noted as measuring 60 x 90, and the overall offering is presented for sale by a motivated seller.
Key Highlights
- Mixed‑use commercial building with professional office space plus a large 60 x 90 warehouse/garage
- Currently used as professional offices
- High‑traffic location
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
$17,813
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
6.48%
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%
$356,260
$356.3K
Cap Rate 7%
$254,471
$254.5K
Cap Rate 9%
$197,922
$197.9K
Market Conditions
NOI Build-Up for 2,500 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
$22.2K $8.88/SF
− Vacancy
−$1.2K −$0.50/SF
EGI
$21.0K $8.38/SF
− OpEx
−$3.1K −$1.26/SF
NOI
$17.8K $7.13/SF
Area
Luzerne County, PA
Vacancy
5.60%
Lease Rate
$8.88 /SF/Yr
Expense Ratio
15.00%
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%
$356,260
Cap Rate 7%
$254,471
Cap Rate 9%
$197,922
Alternative Uses
Best Use
Warehouse
$254.5K
$222.7K – $296.9K
NOI $17,813 @ 7.0% cap · market cap 6.48%
Second Best
Industrial
$197.1K
$172.5K – $230.0K
NOI $13,797 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$792.0K
$693.0K – $924.0K
NOI $55,440 @ 7.0% cap · market cap 20.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
433
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18643, PA
12,165
Population
6,321
Households
1.9
Avg Household Size
46
Median Age
25%
College-Educated
95%
High-School Grad
18.3 sq mi
ZIP Area
665
Density / Sq Mi
$61,685
Median Household Income
$43,129
Median Earnings
$956
Median Rent
$156,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed-use building featuring professional office space plus a large warehouse/garage and ample parking for customers and staff.
Where is this flex space located?
The property is located at 682 Tunkhannock Avenue Exeter, PA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Mixed‑use commercial building with professional office space plus a large 60 x 90 warehouse/garage; Currently used as professional offices; High‑traffic location
