Mixed-Use Retail and Apartment
For Sale
Contact for pricing
13 Carey Ave, Wilkes Barre, PA 18702
Two-story mixed-use building with separate utilities, offering first-floor retail or office space and a second-floor apartment.
Property Size1,700 SF
Price / SF$140.59
Days on Market69
Property Features for 13 Carey Ave
General Information
Standard status
Active
Size
1,700 SF
Property subtype
RETAIL
Building Details
Stories
2
Listing Agency:
eXp Commercial Real Estate Services
(800) 490-4770
Listed By:
Phu Bui
(570) 328-4162
Source:
Moodyscre
Added: Jun 30
Changed: Aug 11
Last Checked: Sep 5 at 3:33PM
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 eXp Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This two-story mixed-use property is configured with first-floor space that can be used as retail or office, and a second-floor apartment with a separate entrance. All utilities are separate, which can support independent operations for the building’s different uses. The property is being sold AS-IS, and measurements are approximate and not guaranteed; buyers should complete their due diligence.
The building is described as located in a high-traffic area, supporting visibility for the first-floor commercial space. The offering includes a total property size of 1,700 square feet.
While the specific unit breakdown is not provided, the overall layout supports a combined commercial and residential use within one building, with distinct utility separation and separate access for the upper apartment.
The building is described as located in a high-traffic area, supporting visibility for the first-floor commercial space. The offering includes a total property size of 1,700 square feet.
While the specific unit breakdown is not provided, the overall layout supports a combined commercial and residential use within one building, with distinct utility separation and separate access for the upper apartment.
Key Highlights
- Two‑story mixed‑use building with first‑floor retail or office space and a second‑floor 2‑bedroom apartment
- Second‑floor apartment has a separate entrance
- Separate utilities for all units
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
$14,137
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
5.92%
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%
$282,740
$282.7K
Cap Rate 7%
$201,957
$202.0K
Cap Rate 9%
$157,078
$157.1K
Market Conditions
NOI Build-Up for 1,700 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
$22.4K $13.20/SF
− Vacancy
−$2.2K −$1.32/SF
EGI
$20.2K $11.88/SF
− OpEx
−$6.1K −$3.56/SF
NOI
$14.1K $8.32/SF
Area
Luzerne County, PA
Vacancy
10.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$282,740
Cap Rate 7%
$201,957
Cap Rate 9%
$157,078
Alternative Uses
Best Use
Office B
$428.4K
$374.9K – $499.9K
NOI $29,991 @ 7.0% cap · market cap 12.55%
Second Best
Retail
$202.0K
$176.7K – $235.6K
NOI $14,137 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$538.6K
$471.2K – $628.3K
NOI $37,699 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-story mixed-use building with separate utilities, offering first-floor retail or office space and a second-floor apartment.
Where is this retail space located?
The property is located at 13 Carey Ave Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Two‑story mixed‑use building with first‑floor retail or office space and a second‑floor 2‑bedroom apartment; Second‑floor apartment has a separate entrance; Separate utilities for all units
