Listing Agency: Atlas Realty Inc c***@aol.com Show Phone

Listed By: Carmen Winters Show Phone

Source: Exprealty

Added: Jan 22, 2019 Changed: Oct 13 Last Checked: Oct 14 at 11:46PM

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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 Atlas Realty Inc

Investment Insights

Based on property information with market context.

A block-built commercial flex building that combines retail and warehouse space. The property was last used as a retail location and includes ceiling heights ranging from 13' to 16' and overhead door clearances also ranging from 13' to 16'.

Situated on Highway 315 in Wilkes-Barre, the site is positioned near Mohegan Sun casino, the Wilkes-Barre shopping district, I-81, and the PA Turnpike.

The total property size is 1.14 acres, offering a single block structure suitable for a variety of commercial uses.

Key Highlights

• 1.14‑acre commercial property on Hwy 315 near Mohegan Sun casino, the Wilkes‑Barre shopping district, I‑81, and the PA Turnpike
• Block‑built flex building with both retail and warehouse space; last used as a retail location
• Building size listed as 9,464 sq ft (block construction) with ceiling heights of 13' to 16'

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,247

Cap Rate

8.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$804,940 $804.9K

Cap Rate 7%

$574,957 $575.0K

Cap Rate 9%

$447,189 $447.2K

Market Conditions

NOI Build-Up for 9,424 SF

Gross rent

$65.6K $6.96/SF

− Vacancy

−$3.7K −$0.39/SF

EGI

$61.9K $6.57/SF

− OpEx

−$21.7K −$2.30/SF

NOI

$40.2K $4.27/SF

Area

Luzerne County, PA

Vacancy

5.60%

Lease Rate

$6.96 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$804,940

Cap Rate 7%

$574,957

Cap Rate 9%

$447,189

Alternative Uses

Best Use

Retail

$1.12M

$979.6K – $1.31M (±1% cap)

NOI $78,370 @ 7.0% cap · market cap 16.50%

Second Best

Warehouse

$959.3K

$839.4K – $1.12M (±1% cap)

NOI $67,149 @ 7.0% cap · market cap 14.14%

Theoretical Best

Office A

$2.99M

$2.61M – $3.48M (±1% cap)

NOI $208,987 @ 7.0% cap · market cap 44.00%

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

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Restaurant Pharmacy Furniture & Home Goods Carpet & Flooring Store Law Firm

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

16 ft

Clear height

Location Intelligence

Trade Area within ½ mile

68

Businesses Nearby

Well-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

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 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 flex space 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?

Flex space - Block-built flex building combines retail and warehouse areas with 13' to 16' ceiling heights and overhead doors rated for 13' to 16'.

Where is this flex space located?

The property is located at 1548 Highway 315 Blvd Wilkes Barre, PA.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: 1.14‑acre commercial property on Hwy 315 near Mohegan Sun casino, the Wilkes‑Barre shopping district, I‑81, and the PA Turnpike; Block‑built flex building with both retail and warehouse space; last used as a retail location; Building size listed as 9,464 sq ft (block construction) with ceiling heights of 13' to 16'