Flex Space with Corner Road
For Sale
$1,500,000
140 Hazle Street Wilkes-Barre, Wilkes Barre, PA 18702
Flex space suited for office, showroom, warehouse, or distribution with prominent corner road frontage.
Property Size14,800 SF
Days on Market413
Property Features for 140 Hazle Street Wilkes-Barre
General Information
Standard status
Active
Size
14,800 SF
Property subtype
COMMERCIAL
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$14,549
Building Details
Building Size
14,800 SF
Year Built
1980
Listing Agency:
Lawrence Real Estate L.L.C..
(570) 825-5263
Listed By:
Lawrence Lebenson
Source:
Luxehomesnepa
Added: Jul 8, 2025
Changed: Aug 23
Last Checked: Aug 23 at 8:00AM
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 Lawrence Real Estate L.L.C..
Investment Insights
Based on property information with market context.
This flex space at 140 Hazle St, Wilkes Barre, PA 18702 is presented for office, showroom, warehouse, or distribution-type business use. The property size is 14,800 SF, providing a flexible footprint for a variety of operating needs.
The site benefits from high visibility and corner road frontage at the intersection of Hazel St, Wilkes Barre Blvd, and Hill St, supporting customer-facing traffic as well as practical access for day-to-day logistics.
Ideal for tenants seeking a single location that can support office, retail/showroom interaction, and warehouse or distribution functions under one roof.
The site benefits from high visibility and corner road frontage at the intersection of Hazel St, Wilkes Barre Blvd, and Hill St, supporting customer-facing traffic as well as practical access for day-to-day logistics.
Ideal for tenants seeking a single location that can support office, retail/showroom interaction, and warehouse or distribution functions under one roof.
Key Highlights
- 14,800 SF flex space suited for office/showroom/warehouse/distribution use
- High visibility corner location with road frontage
- Corner frontage on Hazel St, Wilkes Barre Blvd, and Hill St
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
$105,455
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
7.03%
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%
$2,109,100
$2.1M
Cap Rate 7%
$1,506,500
$1.5M
Cap Rate 9%
$1,171,722
$1.2M
Market Conditions
NOI Build-Up for 14,800 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
$131.4K $8.88/SF
− Vacancy
−$7.4K −$0.50/SF
EGI
$124.1K $8.38/SF
− OpEx
−$18.6K −$1.26/SF
NOI
$105.5K $7.13/SF
Area
Luzerne County, PA
Vacancy
5.60%
Lease Rate
$8.88 /SF/Yr
Expense Ratio
15.00%
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%
$2,109,100
Cap Rate 7%
$1,506,500
Cap Rate 9%
$1,171,722
Alternative Uses
Best Use
Warehouse
$1.51M
$1.32M – $1.76M
NOI $105,455 @ 7.0% cap · market cap 7.03%
Second Best
Industrial
$1.17M
$1.02M – $1.36M
NOI $81,678 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$4.69M
$4.10M – $5.47M
NOI $328,205 @ 7.0% cap · market cap 21.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,122
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Filfood — 73 Essex Ln, Wilkes-Barre, PA 18702
Frequently Asked Questions
What type of property is this?
Flex space - Flex space suited for office, showroom, warehouse, or distribution with prominent corner road frontage.
Where is this flex space located?
The property is located at 140 Hazle Street Wilkes-Barre Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 14,800 SF flex space suited for office/showroom/warehouse/distribution use; High visibility corner location with road frontage; Corner frontage on Hazel St, Wilkes Barre Blvd, and Hill St
