Building Details

Tenancy Multi

Listing Agency: TACM Commerical Realty Inc. b***@tacmcommercial.com

Listed By: Daniel Lichty · License #RS323839 Show Phone

Source: Exprealty

Added: Jun 11, 2024 Changed: Oct 25 Last Checked: Oct 24 at 6:17PM

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Investment Insights

Based on property information with market context.

This 6,000 SF, three-unit building was formerly operated as a gas station/convenience store and includes two additional retail units. The property includes Phase I and Phase II environmental work completed, with Act 2 clearance in place. Underground tanks remain in the ground and would need replacement if the site is to continue gas station use.

The property is located on a busy section of Route 435 in Moscow, PA, directly across from the entrance to the Shoprite Shopping Plaza, which includes Ace Hardware and Dunkin among other retail stores.

The asset is offered for sale and is configured to support multiple retail operations within a single site.

Key Highlights

• 6,000 SF 3‑unit building with a former gas station/convenience store plus 2 additional retail units
• 1.7‑acre site on a busy section of Route 435 in Moscow, PA
• Located directly across from the entrance to the Shoprite Shopping Plaza (includes Ace Hardware, Dunkin, and other retail stores)

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$64,665

Cap Rate

8.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,293,300 $1.3M

Cap Rate 7%

$923,786 $923.8K

Cap Rate 9%

$718,500 $718.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$90.0K $15.00/SF

− Vacancy

−$3.8K −$0.63/SF

EGI

$86.2K $14.37/SF

− OpEx

−$21.6K −$3.59/SF

NOI

$64.7K $10.78/SF

Area

Lackawanna County, PA

Vacancy

4.20%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,293,300

Cap Rate 7%

$923,786

Cap Rate 9%

$718,500

Alternative Uses

Best Use

Specialty Retail

$923.8K

$808.3K – $1.08M (±1% cap)

NOI $64,665 @ 7.0% cap · market cap 8.13%

Second Best

Retail

$805.5K

$704.8K – $939.8K (±1% cap)

NOI $56,385 @ 7.0% cap · market cap 7.09%

Theoretical Best

Office A

$1.52M

$1.33M – $1.78M (±1% cap)

NOI $106,604 @ 7.0% cap · market cap 13.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Gas stations

Suggested Use

Top Pick Plumbing Service Locksmith Auto Parts Store Dental Office (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

127

Businesses Nearby

59k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 58% Home Improvements & Furnishings 17% Shops & Services 14% Dining 12%

ShopRite Groceries

26,760 visits/mo 0.5 miles

Ace Hardware Of Covington Township Home Improvements & Furnishings

10,169 visits/mo 0.4 miles

Fine Wine & Good Spirits Groceries

7,168 visits/mo 0.5 miles

Dunkin' Donuts Dining

6,783 visits/mo 0.4 miles

Napa Auto Parts Shops & Services

3,803 visits/mo 0.5 miles

Demographics for 18444, PA

13,540

Population

5,954

Households

2.3

Avg Household Size

46

Median Age

33%

College-Educated

94%

High-School Grad

105.1 sq mi

ZIP Area

129

Density / Sq Mi

$84,919

Median Household Income

$49,188

Median Earnings

$1,015

Median Rent

$249,400

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Gas station - Three-unit building offers a former gas station/retail setup plus two additional retail units on a 1.7-acre site.

Where is this gas station located?

The property is located at 922 Drinker Tpke Covington Township, PA.

What is the asking price?

The asking price for this property is $795,000.

What are key features of this property?

This property features: 6,000 SF 3‑unit building with a former gas station/convenience store plus 2 additional retail units; 1.7‑acre site on a busy section of Route 435 in Moscow, PA; Located directly across from the entrance to the Shoprite Shopping Plaza (includes Ace Hardware, Dunkin, and other retail stores)