Fully Leased Multi-Building
For Sale
$1,900,000
117 S Main St, Watsontown, PA 17777
Three-building apartment complex with 10 units, fully occupied and leased, with additional finished basement space in some units.
Property Size11,200 SF
Price / SF$169.64
Days on Market20
Property Features for 117 S Main St
General Information
Standard status
Active
Size
11,200 SF
Occupancy
100%
Additional Details
Multifamily Units
10
Building Details
Year Built
2010
Tenancy
Multi
Listing Agency:
One Valley Realty LLC
(610) 432-7175
Listed By:
Therese Kelley · License #RS344310
Source:
Kandorre
Added: Jul 21
Changed: Jul 22
Last Checked: Aug 9 at 9:50AM
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 One Valley Realty LLC
Investment Insights
Based on property information with market context.
This fully occupied, income-producing apartment complex includes three buildings totaling approximately 11,000 square feet and features 10 units. Each unit offers a 2-bedroom layout with 1.5 bathrooms, and several units include finished basements for additional usable space.
The property is located at 117 S Main St, Watsontown, PA 17777. The landlord currently covers water, sewer, trash, snow removal, and lawn care, helping support consistent maintenance and tenant convenience.
All units are leased, providing immediate occupancy for investors. Proof of funds is required prior to scheduling showings.
The property is located at 117 S Main St, Watsontown, PA 17777. The landlord currently covers water, sewer, trash, snow removal, and lawn care, helping support consistent maintenance and tenant convenience.
All units are leased, providing immediate occupancy for investors. Proof of funds is required prior to scheduling showings.
Key Highlights
- Three‑building multi‑unit apartment complex with 10 units totaling about 11,000 SF
- Built in 2010
- All units are fully leased at $1,100 per month for stable rental income
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
$77,409
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
4.07%
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%
$1,548,180
$1.5M
Cap Rate 7%
$1,105,843
$1.1M
Cap Rate 9%
$860,100
$860.1K
Market Conditions
NOI Build-Up for 11,200 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
$150.5K $13.44/SF
− Vacancy
−$9.8K −$0.87/SF
EGI
$140.7K $12.57/SF
− OpEx
−$63.3K −$5.65/SF
NOI
$77.4K $6.91/SF
Area
Northumberland County, PA
Vacancy
6.50%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
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%
$1,548,180
Cap Rate 7%
$1,105,843
Cap Rate 9%
$860,100
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$967.6K – $1.29M
NOI $77,409 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$13.63M
$11.92M – $15.90M
NOI $953,965 @ 7.0% cap · market cap 50.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Explore this area
Business Placement
Demographics for 17777, PA
6,769
Population
2,849
Households
2.4
Avg Household Size
45
Median Age
19%
College-Educated
84%
High-School Grad
36.9 sq mi
ZIP Area
183
Density / Sq Mi
$59,125
Median Household Income
$36,274
Median Earnings
$832
Median Rent
$195,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-building apartment complex with 10 units, fully occupied and leased, with additional finished basement space in some units.
Where is this apartment building located?
The property is located at 117 S Main St Watsontown, PA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Three‑building multi‑unit apartment complex with 10 units totaling about 11,000 SF; Built in 2010; All units are fully leased at $1,100 per month for stable rental income
