Commercial Building For
For Sale
Contact for pricing
13 Woodward Street, Wilkes Barre, PA 18705
Commercial building for sale, currently operating as a pizza restaurant.
Property Size1,000 SF
Price / SF$250
Days on Market181
Property Features for 13 Woodward Street
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Special Purpose
Listing Agency:
CENTURY 21 Jack Ruddy Real Estate
(570) 344-6724
Listed By:
Karen Kashuba · License #PA
Source:
Crexi
Added: Feb 12
Changed: Aug 11
Last Checked: Aug 11 at 4:50PM
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 CENTURY 21 Jack Ruddy Real Estate
Investment Insights
Based on property information with market context.
Located off N Washington St and George Ave on Woodward St in Wilkes-Barre, PA, this commercial building is available for purchase. Currently operating as a pizza restaurant, the sale includes the building only; the business is not included. The main floor provides approximately 1,000 sq ft of space and includes two bathrooms. The basement offers ample storage. Generous parking is available. This property is suitable for investors or owner-operators seeking a versatile commercial space.
Key Highlights
- Operating commercial building suitable for immediate use.
- Generous parking included.
- Main floor of approximately 1,000 sq ft.
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
$10,778
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
4.31%
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%
$215,560
$215.6K
Cap Rate 7%
$153,971
$154.0K
Cap Rate 9%
$119,756
$119.8K
Market Conditions
NOI Build-Up for 1,000 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
$15.0K $15.00/SF
− Vacancy
−$630 −$0.63/SF
EGI
$14.4K $14.37/SF
− OpEx
−$3.6K −$3.59/SF
NOI
$10.8K $10.78/SF
Area
Luzerne 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 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%
$215,560
Cap Rate 7%
$153,971
Cap Rate 9%
$119,756
Alternative Uses
Best Use
Specialty Retail
$154.0K
$134.7K – $179.6K
NOI $10,778 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$316.8K
$277.2K – $369.6K
NOI $22,176 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Turkey Hill Minit Market
Shops & Services
10,837 visits/mo
0.3 miles
Demographics for 18705, PA
14,832
Population
7,268
Households
2
Avg Household Size
44
Median Age
23%
College-Educated
88%
High-School Grad
5.0 sq mi
ZIP Area
2,966
Density / Sq Mi
$61,293
Median Household Income
$35,965
Median Earnings
$1,006
Median Rent
$122,800
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Commercial building for sale, currently operating as a pizza restaurant.
Where is this conventional restaurant located?
The property is located at 13 Woodward Street Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Operating commercial building suitable for immediate use.; Generous parking included.; Main floor of approximately 1,000 sq ft.
