Remodeled Mixed-Use Restaurant
For Sale
$435,000
20 School Street, Plains, PA 18705
COMMERCIAL - Plains, PA
Property Size3,350 SF
Price / SF$129.85
Days on Market8
Property Features for 20 School Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Elementary school district
Wilkes-Barre
Middle school district
Wilkes-Barre
High school district
Wilkes-Barre
Directions
From Main Street Miners Mills, take right onto Scott Street, continue straight at second stop sign make a right onto School Street. Restaurant is on the right-hand side.
Subdivision
Plains Twp-WB Twp-Bear Creek Laflin
Standard status
Active
APN
G11NW Block 5 lots 4,11,12 and 15
Size
3,350 SF
Taxes and HOA fees
Tax Description
POS system, personal items
Tax Annual Amount
5841
Legal Description
POS system, personal items
Amenities
licensed outdoor pavilion
Listing Agency:
Rubbico Real Estate · Realty World
(570) 826-1600
Listed By:
David Magda · License #RS334204
(570) 417-4347
Added: Aug 17
Last Checked: Aug 24 at 1:06AM
MLS# 26-4151
Copyright © 2026 Luzerne County Association of REALTORS®. 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.
Located at 20 School Street in Plains, Pennsylvania, this 3,350-square-foot mixed-use property combines a remodeled restaurant and bar with two remodeled apartments. The residential units are rented, creating a combined commercial and residential configuration within the building.
The property includes a licensed outdoor pavilion, parking, and a full Class R liquor license conveyed with the sale. Building systems include 3 new heating units, with separate heat and electrical service arrangements. The restaurant, bar, apartment, and outdoor components provide a varied property profile for an owner-user or buyer seeking both commercial and residential elements.
The property includes a licensed outdoor pavilion, parking, and a full Class R liquor license conveyed with the sale. Building systems include 3 new heating units, with separate heat and electrical service arrangements. The restaurant, bar, apartment, and outdoor components provide a varied property profile for an owner-user or buyer seeking both commercial and residential elements.
Key Highlights
- 3,350‑square‑foot mixed‑use property with restaurant, bar, and two apartments
- Two remodeled apartments are rented
- Remodeled restaurant and bar with licensed outdoor pavilion
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
$36,105
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
8.30%
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%
$722,100
$722.1K
Cap Rate 7%
$515,786
$515.8K
Cap Rate 9%
$401,167
$401.2K
Market Conditions
NOI Build-Up for 3,350 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
$50.3K $15.00/SF
− Vacancy
−$2.1K −$0.63/SF
EGI
$48.1K $14.37/SF
− OpEx
−$12.0K −$3.59/SF
NOI
$36.1K $10.78/SF
Area
Luzerne County, PA
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$722,100
Cap Rate 7%
$515,786
Cap Rate 9%
$401,167
Alternative Uses
Best Use
Specialty Retail
$515.8K
$451.3K – $601.8K
NOI $36,105 @ 7.0% cap · market cap 8.30%
Second Best
Mixed Use
$473.8K
$414.6K – $552.8K
NOI $33,165 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$1.06M
$928.6K – $1.24M
NOI $74,290 @ 7.0% cap · market cap 17.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Utilities to site
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 18705, PA
14,832
Population
7,268
Households
2
Avg Household Size
44
Median Age
23%
College-Educated
88%
High-School Grad
5.0 sq mi
ZIP Area
2,966
Density / Sq Mi
$61,293
Median Household Income
$35,965
Median Earnings
$1,006
Median Rent
$122,800
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?
Mixed-use property - Restaurant and bar improvements are paired with two rented apartments and a licensed outdoor pavilion.
Where is this mixed-use property located?
The property is located at 20 School Street Plains, PA.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 3,350‑square‑foot mixed‑use property with restaurant, bar, and two apartments; Two remodeled apartments are rented; Remodeled restaurant and bar with licensed outdoor pavilion
