Building Details

Building Size 4,284 SF

Listing Agency: Lewith & Freeman, Shavertown Show Phone

Listed By: Rebecca Halbing

Source: Luxehomesnepa

Added: Apr 6 Changed: Aug 23 Last Checked: Aug 23 at 5:20AM

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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 Lewith & Freeman, Shavertown

Investment Insights

Based on property information with market context.

This renovated duplex includes ground-floor space designed for business use, along with two residential apartments. The property is described as completely renovated and offered with generous parking to support tenant and customer access. The configuration supports mixed use under the same ownership, with the two apartments providing additional residential rental income potential.

The property is located on Courtdale Ave in Courtdale, Pennsylvania, and is noted as zoned for business uses. Public remarks also indicate potential for a detached garage, which may provide additional on-site utility or storage depending on how the property is developed.

As presented, this is a turnkey, renovated mixed-use duplex designed to combine a ground-floor business operation with apartment living on the same site.

Key Highlights

• Renovated duplex with ground‑floor business space and two residential apartments
• Includes generous parking
• Property is zoned for business uses

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

$34,573

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

8.13%

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%

$691,460 $691.5K

Cap Rate 7%

$493,900 $493.9K

Cap Rate 9%

$384,144 $384.1K

Market Conditions

NOI Build-Up for 4,284 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

$54.0K $12.60/SF

− Vacancy

−$4.6K −$1.07/SF

EGI

$49.4K $11.53/SF

− OpEx

−$14.8K −$3.46/SF

NOI

$34.6K $8.07/SF

Area

Luzerne County, PA

Vacancy

8.50%

Lease Rate

$12.60 /SF/Yr

Expense Ratio

30.00%

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%

$691,460

Cap Rate 7%

$493,900

Cap Rate 9%

$384,144

Alternative Uses

Best Use

Multifamily LT 5

$493.9K

$432.2K – $576.2K (±1% cap)

NOI $34,573 @ 7.0% cap · market cap 8.13%

Second Best

Apartment 5plus

$458.1K

$400.8K – $534.4K (±1% cap)

NOI $32,065 @ 7.0% cap · market cap 7.54%

Theoretical Best

Office A

$1.36M

$1.19M – $1.58M (±1% cap)

NOI $95,002 @ 7.0% cap · market cap 22.35%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Skin Care Clinic Grocery & Convenience Store Daycare Center

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

2

Residential units

Location Intelligence

Trade Area within ½ mile

107

Businesses Nearby

Explore this area Business Placement

Demographics for 18704, PA

31,138

Population

14,531

Households

2.1

Avg Household Size

43

Median Age

29%

College-Educated

95%

High-School Grad

10.1 sq mi

ZIP Area

3,083

Density / Sq Mi

$62,907

Median Household Income

$39,349

Median Earnings

$935

Median Rent

$154,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Renovated duplex offering ground-floor business space and two residential apartments, with generous parking and business zoning.

Where is this duplex located?

The property is located at 197 Courtdale Avenue Courtdale, PA.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: Renovated duplex with ground‑floor business space and two residential apartments; Includes generous parking; Property is zoned for business uses