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    Commercial Office Space Investment Title is generated by Realmo AI

    1345 Rt 507, Greentown, PA 18426

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    Claim this Listing
    For Sale
    $649,000

    COMMERCIAL - Greentown, PA

    Type:Office
    Lot size:
    1.87 Acres
    Added:
    Apr 15, 2024
    Days on Market:
    763
    Last Refresh:
    May 17 at 11:06 am

    Property Features for 1345 Rt 507

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Rooms
    Basement
    Parking features
    Off Street
    Basement
    Unfinished, Walk-Out Access, Full
    Standard status
    Active
    Lot size
    1.87 Acres

    Taxes and HOA fees

    Tax Annual Amount
    6807

    Utilities

    Utilities
    Propane
    Sewer type
    Mound Septic, Septic Tank
    Heating system
    Steam, Oil, Propane (Heating), Forced Air
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    1960
    Floors in Building
    2
    Flooring type
    Carpet, Vinyl, Laminate, Wood
    Building materials
    Frame, Vinyl Siding
    Roof type
    Shingle, Asphalt, Flat, Rubber

    We can help!

    Listing Contact
    David Dellert
    David Dellert

    Listing agent David Dellert License #RM425903

    Listing office RE/MAX of Lake Wallenpaupack - Greentown 1361 Route 507, Greentown, PA

    Listing date Apr 15, 2024

    MLS# PW-240980 Listing URL

    Copyright © 2026 Pike/Wayne Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High potential ROI in less than 10 years due to high traffic counts and rents.
    • Large commercial office space with additional residential home.
    • Located less than a mile from Rt 84.
    • Low‑maintenance commercial investment requiring little time or upkeep.
    • Significant road frontage with 2 lit signs.
    • Multiple heating and cooling systems: Steam, Oil, Propane, Forced Air, and Central Air.

    Overview

    This commercial property features a large office space building along with an additional residential home, situated less than a mile from Route 84 in Greentown, PA. The property benefits from high traffic counts, potentially allowing for a return on investment in under 10 years. It includes 1.87 acres of land with significant road frontage and two lit signs. This commercial investment opportunity requires minimal time and upkeep while offering a high return compared to other commercial ventures. The property is located in Pike County, with the postal code 18426.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    Greentown
    County
    Pike
    State
    Pennsylvania
    Longitude
    -75.305154
    Latitude
    41.35069

    FAQs

    What type of property is this?
    Office building - Commercial office building with residential home near Rt 84.
    Where is this office building located?
    The property is located at 1345 Rt 507 Greentown, PA.
    What is the asking price?
    The asking price for this property is $649,000.
    What are key features of this property?
    This property features: High potential ROI in less than 10 years due to high traffic counts and rents.; Large commercial office space with additional residential home.; Located less than a mile from Rt 84.
    (570) 676-0695
    We can help!
    Listing Contact
    David Dellert
    David Dellert
    Real Estate License ID: RM425903
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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