Six-Unit Apartment Building with
For Sale
$569,000
17 Crafton Street, Wellsboro, PA 16901
COMMERCIAL - Wellsboro, PA
Property Size7,344 SF
Lot Size0.11 Acres
Price / SF$77.48
Days on Market150
Property Features for 17 Crafton Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
6
Full bathrooms
3
Half bathrooms
3
Rooms
Bathroom 6, Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 4, Bathroom 5
Elementary school district
Wellsboro Area
Middle school district
Wellsboro Area
High school district
Wellsboro Area
Subdivision
Tioga
Standard status
Active
Size
7,344 SF
Lot size
0.11 Acres
Amenities
covered porch
Building Details
Year built
1901
Listing Agency:
Howard Hanna Professionals-Wellsboro
(570) 723-1600
Listed By:
Carolyn Straniere
(570) 439-9619
Added: Mar 27
Changed: Aug 4
Last Checked: Aug 23 at 2:06PM
MLS# 31727068
Copyright © 2026 Northern Mountains of Pennsylvania MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This six-unit apartment building offers a mixed-use setup with three storefronts on the ground level and three 2-bedroom apartments upstairs. Each storefront features large display windows and indoor access to its own full, dry basement, which can provide additional storage. An open, covered porch is available for tenant use. The three apartments include plenty of closet space. All units are currently rented with yearly lease tenants.
The property sits on a 0.11-acre lot and totals 7,344 square feet. Built in 1901, it is located about one block from Main Street in Wellsboro.
With separate storefront basements and tenant-ready apartment space, the layout supports diversified day-to-day operations within one building while keeping the storefront units independently served at the basement level.
The property sits on a 0.11-acre lot and totals 7,344 square feet. Built in 1901, it is located about one block from Main Street in Wellsboro.
With separate storefront basements and tenant-ready apartment space, the layout supports diversified day-to-day operations within one building while keeping the storefront units independently served at the basement level.
Key Highlights
- 0.11‑acre lot with 7,344 SF total building area
- Three storefronts with large display windows, each 1,200 SF
- Indoor access from each storefront to its own full, dry basement
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
$46,289
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
8.14%
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%
$925,780
$925.8K
Cap Rate 7%
$661,271
$661.3K
Cap Rate 9%
$514,322
$514.3K
Market Conditions
NOI Build-Up for 7,344 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
$88.1K $12.00/SF
− Vacancy
−$4.0K −$0.54/SF
EGI
$84.2K $11.46/SF
− OpEx
−$37.9K −$5.16/SF
NOI
$46.3K $6.30/SF
Area
Tioga County, PA
Vacancy
4.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$925,780
Cap Rate 7%
$661,271
Cap Rate 9%
$514,322
Alternative Uses
Best Use
Mixed Use
$1.06M
$929.5K – $1.24M
NOI $74,358 @ 7.0% cap · market cap 13.07%
Second Best
Apartment 5plus
$661.3K
$578.6K – $771.5K
NOI $46,289 @ 7.0% cap · market cap 8.14%
Theoretical Best
Healthcare Medical
$1.25M
$1.09M – $1.46M
NOI $87,572 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
653
Businesses Nearby
Explore this area
Business Placement
Demographics for 16901, PA
10,561
Population
5,360
Households
2
Avg Household Size
47
Median Age
28%
College-Educated
93%
High-School Grad
230.4 sq mi
ZIP Area
46
Density / Sq Mi
$66,003
Median Household Income
$40,723
Median Earnings
$863
Median Rent
$210,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Mixed-use six-unit property with three storefronts and three 2-bedroom apartments, all rented under yearly leases.
Where is this apartment building located?
The property is located at 17 Crafton Street Wellsboro, PA.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: 0.11‑acre lot with 7,344 SF total building area; Three storefronts with large display windows, each 1,200 SF; Indoor access from each storefront to its own full, dry basement
