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    Versatile Commercial Building on 3.27 Acres Title is generated by Realmo AI

    1586 Rt 507, Greentown, PA 18426

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    For Sale
    $975,000

    26,000 SF commercial building on 3.27 acres, Route 507.

    Property size:
    26,148 SF
    Lot size:
    3.27 Acres
    Price / SF:
    $37/SF
    Added:
    Dec 17, 2024
    Days on Market:
    530
    Last Refresh:
    May 13 at 8:21 pm

    Property Features for 1586 Rt 507

    General Information

    Standard status
    Active
    Size
    26,148 SF
    Lot size
    3.27 Acres
    Property subtype
    Other

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    Eric Ehrhardt

    Listing agent Eric Ehrhardt

    Listing office Davis R. Chant Real Estate

    Listing date Dec 17, 2024

    Source Xome

    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 Davis R. Chant Real Estate

    HighLights

    • Prime location: Ideally situated on Route 507, only 1.5 miles from Interstate 84 (Exit 20).
    • Large commercial building: 26,000 square feet on 3.27 acres with room to expand.
    • Versatile warehouse space: Over 7,000 sq ft with 19 ft ceilings, loading dock, and 14'x14' drive‑in door.
    • Flexible zoning: No zoning restrictions in the township, allowing for various business uses.
    • Ample parking and access: Plenty of paved parking with access from 3 public roads.
    • Multiple spaces: Includes retail (5,490 sq ft), former bank (3,860 sq ft), office (1,110 sq ft), and storage (7,600 sq ft) areas.

    Overview

    This commercial building offers 26,000 square feet of space on a 3.27-acre lot. The property is located on Route 507, approximately 1.5 miles from Exit 20 on Interstate 84. The first floor includes a 5,490 square foot retail area, a 3,860 square foot former bank space, and over 7,000 square feet of warehouse space featuring 19-foot high ceilings, a loading dock, and a second drive-in entrance with a 14'x14' door. The second floor provides 1,110 square feet of office space and an additional 7,600 square feet of storage space with 10-foot ceilings. The property has paved parking and access from three different public roads. Located in a township with no zoning restrictions, the property offers various potential uses and room for expansion, making it suitable for locating a business in the Northern Poconos.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Greentown
    County
    Pike
    State
    Pennsylvania
    Longitude
    -75.2624
    Latitude
    41.3335

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    FAQs

    What type of property is this?
    Mixed-use property - 26,000 SF commercial building on 3.27 acres, Route 507.
    Where is this mixed-use property located?
    The property is located at 1586 Rt 507 Greentown, PA.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: Prime location: Ideally situated on Route 507, only 1.5 miles from Interstate 84 (Exit 20).; Large commercial building: 26,000 square feet on 3.27 acres with room to expand.; Versatile warehouse space: Over 7,000 sq ft with 19 ft ceilings, loading dock, and 14'x14' drive‑in door.
    We can help!
    Listing Contact
    Eric Ehrhardt
    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.

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