Listing Agency: Dwell Real Estate C.S. Branch Office r***@gmail.com Show Phone

Listed By: Rita Doria Show Phone

Source: Exprealty

Added: Jul 14 Changed: Aug 15 Last Checked: Aug 16 at 11:10AM

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Investment Insights

Based on property information with market context.

This 2,000-square-foot warehouse is configured as a garage with a loft area. The loft provides additional space for storage or a small personal office, while the main area was used for a car collection and car parts storage.

The property is located at 155 Church St in Old Forge, PA 18518, and carries R-2 zoning.

Key Highlights

• 2,000‑square‑foot warehouse configured as a garage
• Loft area for additional storage or a small personal office
• Previously used for a car collection and car parts storage

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

$14,170

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

7.46%

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%

$283,400 $283.4K

Cap Rate 7%

$202,429 $202.4K

Cap Rate 9%

$157,444 $157.4K

Market Conditions

NOI Build-Up for 2,000 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

$17.7K $8.83/SF

− Vacancy

−$989 −$0.49/SF

EGI

$16.7K $8.34/SF

− OpEx

−$2.5K −$1.25/SF

NOI

$14.2K $7.09/SF

Area

Lackawanna County, PA

Vacancy

5.60%

Lease Rate

$8.83 /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%

$283,400

Cap Rate 7%

$202,429

Cap Rate 9%

$157,444

Alternative Uses

Best Use

Warehouse

$202.4K

$177.1K – $236.2K (±1% cap)

NOI $14,170 @ 7.0% cap · market cap 7.46%

Second Best

Industrial

$166.7K

$145.9K – $194.5K (±1% cap)

NOI $11,670 @ 7.0% cap · market cap 6.14%

Theoretical Best

Office A

$507.6K

$444.2K – $592.3K (±1% cap)

NOI $35,535 @ 7.0% cap · market cap 18.70%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Restaurant Building Supply Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

444

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 18518, PA

8,497

Population

3,949

Households

2.2

Avg Household Size

46

Median Age

32%

College-Educated

94%

High-School Grad

4.0 sq mi

ZIP Area

2,124

Density / Sq Mi

$73,258

Median Household Income

$44,586

Median Earnings

$862

Median Rent

$169,700

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

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Frequently Asked Questions

What type of property is this?

Warehouse - The property includes a loft for additional storage or a small personal office.

Where is this warehouse located?

The property is located at 155 Church St Old Forge, PA.

What is the asking price?

The asking price for this property is $190,000.

What are key features of this property?

This property features: 2,000‑square‑foot warehouse configured as a garage; Loft area for additional storage or a small personal office; Previously used for a car collection and car parts storage