Building Details

Year Built 1977

Units 98

Tenancy Multi

Listing Agency: Lawrence Real Estate LLC

Listed By: Larry Lebenson · License #PA RM060491A Show Phone

Source: Crexi

Added: Apr 29 Changed: Oct 1 Last Checked: Oct 14 at 9:13PM

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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 LLC

Investment Insights

Based on property information with market context.

Built in 1977, this 18,000-square-foot office building is designated Commercial C-1 and has received recent heating and cooling updates. The property is identified for mixed-use commercial and residential occupancy, providing a substantial existing building for office-oriented operations or other supported uses.

The site at 1416 Monroe Avenue in Dunmore, Pennsylvania, is adjacent to a recreational park and civic center. It is also near a residential community and a large shopping center, with Interstate 81 approximately one mile away. These surrounding uses provide a combination of civic, residential, retail, and regional roadway context.

Key Highlights

• 18,000‑square‑foot office building constructed in 1977
• Commercial C‑1 zoning
• Recent heating and cooling updates

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$182,250

Cap Rate

8.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,645,000 $3.6M

Cap Rate 7%

$2,603,571 $2.6M

Cap Rate 9%

$2,025,000 $2.0M

Market Conditions

NOI Build-Up for 18,000 SF

Gross rent

$324.0K $18.00/SF

− Vacancy

−$32.4K −$1.80/SF

EGI

$291.6K $16.20/SF

− OpEx

−$109.4K −$6.07/SF

NOI

$182.3K $10.13/SF

Area

Lackawanna County, PA

Vacancy

10.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,645,000

Cap Rate 7%

$2,603,571

Cap Rate 9%

$2,025,000

Alternative Uses

Best Use

Office B

$3.30M

$2.89M – $3.86M (±1% cap)

NOI $231,312 @ 7.0% cap · market cap 10.51%

Second Best

Healthcare Medical

$3.03M

$2.65M – $3.54M (±1% cap)

NOI $212,265 @ 7.0% cap · market cap 9.65%

Theoretical Best

Office A

$4.57M

$4.00M – $5.33M (±1% cap)

NOI $319,811 @ 7.0% cap · market cap 14.54%

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

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Furniture & Home Goods Bakery HVAC Service Locksmith Catering Service

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

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,007

Businesses Nearby

Explore this area Business Placement

Demographics for 18509, PA

13,720

Population

6,017

Households

2.3

Avg Household Size

39

Median Age

28%

College-Educated

90%

High-School Grad

3.0 sq mi

ZIP Area

4,573

Density / Sq Mi

$52,206

Median Household Income

$31,657

Median Earnings

$991

Median Rent

$176,300

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Commercial C-1 property with updated heating and cooling systems near established residential and retail areas.

Where is this office building located?

The property is located at 1416 Monroe Avenue Dunmore, PA.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: 18,000‑square‑foot office building constructed in 1977; Commercial C‑1 zoning; Recent heating and cooling updates