Listing Agency: Davis R. Chant - Honesdale h***@chantre.com Show Phone

Listed By: Elena Nouri · License #AB069673 Show Phone

Source: Exprealty

Added: Aug 26 Changed: Oct 15 Last Checked: Oct 16 at 10:03AM

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Investment Insights

Based on property information with market context.

This mixed-use property combines a commercial building with an attached 3-bedroom, 2-bath residence on a 1.01-acre parcel. The commercial portion previously operated as a tavern and includes ample parking. The property has been inactive as a business for several years and requires renovation, allowing the next owner to reconfigure the space for a supported commercial use.

Positioned along State Route 590 in Lakeville, the property sits between Hawley and Hamlin and is approximately 10 minutes from Lake Wallenpaupack. The attached residence creates an on-site living arrangement that complements the commercial component. The property is also identified for live-work, office, restaurant, and other mixed-use applications in the listing classification.

Key Highlights

• 1.01‑acre mixed‑use property in Lakeville, PA
• Attached 3‑bedroom, 2‑bath residence
• Commercial building with ample parking

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,167

Cap Rate

8.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$503,340 $503.3K

Cap Rate 7%

$359,529 $359.5K

Cap Rate 9%

$279,633 $279.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,429 SF

Gross rent

$43.7K $18.00/SF

− Vacancy

−$3.5K −$1.42/SF

EGI

$40.3K $16.58/SF

− OpEx

−$15.1K −$6.22/SF

NOI

$25.2K $10.36/SF

Area

Wayne County, PA

Vacancy

7.90%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$503,340

Cap Rate 7%

$359,529

Cap Rate 9%

$279,633

Alternative Uses

Best Use

Office B

$485.9K

$425.1K – $566.8K (±1% cap)

NOI $34,010 @ 7.0% cap · market cap 11.37%

Second Best

Specialty Retail

$447.4K

$391.5K – $521.9K (±1% cap)

NOI $31,316 @ 7.0% cap · market cap 10.47%

Theoretical Best

Office A

$592.3K

$518.3K – $691.0K (±1% cap)

NOI $41,460 @ 7.0% cap · market cap 13.87%

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

Property Analytics

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Current Use

Live-work space

Suggested Use

Top Pick Building Supply Auto Parts Store Storage Facility Garden Center (Bike/Boat/Book/etc) Store Big Box & Wholesale 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.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

25

Businesses Nearby

Explore this area Business Placement

Demographics for 18438, PA

1,186

Population

1,692

Households

0.7

Avg Household Size

57

Median Age

38%

College-Educated

95%

High-School Grad

8.2 sq mi

ZIP Area

145

Density / Sq Mi

$59,808

Median Household Income

$41,250

Median Earnings

$352,600

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

Frequently Asked Questions

What type of property is this?

Mixed-use property - Attached residential quarters support a live-work format alongside adaptable commercial space.

Where is this mixed-use property located?

The property is located at 175 Purdytown Tpke Lakeville, PA.

What is the asking price?

The asking price for this property is $299,000.

What are key features of this property?

This property features: 1.01‑acre mixed‑use property in Lakeville, PA; Attached 3‑bedroom, 2‑bath residence; Commercial building with ample parking