Building Details

Year built 1950

Floors in Building 1

Number of units 1

Listing Agency: Christian Saunders Real Estate c***@gmail.com Show Phone

Listed By: Christian Saunders · License #RM424906 Show Phone

Added: Jun 17, 2025 Changed: Sep 12 Last Checked: Sep 28 at 3:06PM

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MLS# SC252950

Copyright © 2026 Greater Scranton Board of Realtors 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 retail storefront property contains 1,624 square feet on a 0.1745-acre parcel. Built in 1950, the building includes a basement and a rear area with off-street parking. C2 zoning supports its commercial classification and provides an established framework for storefront use.

The property is located at 214 George Street in Throop Borough, Pennsylvania, within Lackawanna County. Its address, commercial zoning, parking, and adaptable building configuration provide the core physical characteristics of the offering.

Key Highlights

• 1,624‑square‑foot retail storefront building
• 0.1745‑acre commercial parcel
• C2 zoning

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

$15,262

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

6.11%

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%

$305,240 $305.2K

Cap Rate 7%

$218,029 $218.0K

Cap Rate 9%

$169,578 $169.6K

Market Conditions

NOI Build-Up for 1,624 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

$24.4K $15.00/SF

− Vacancy

−$2.6K −$1.58/SF

EGI

$21.8K $13.43/SF

− OpEx

−$6.5K −$4.03/SF

NOI

$15.3K $9.40/SF

Area

Lackawanna County, PA

Vacancy

10.50%

Lease Rate

$15.00 /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%

$305,240

Cap Rate 7%

$218,029

Cap Rate 9%

$169,578

Alternative Uses

Best Use

Retail

$218.0K

$190.8K – $254.4K (±1% cap)

NOI $15,262 @ 7.0% cap · market cap 6.11%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$412.2K

$360.7K – $480.9K (±1% cap)

NOI $28,854 @ 7.0% cap · market cap 11.55%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Law Firm Plumbing Service Skin Care Clinic HVAC Service (Bike/Boat/Book/etc) 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.

Location Intelligence

Trade Area within ½ mile

326

Businesses Nearby

7k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 94% Hotels & Casinos 6%

PNC Bank Shops & Services

5,674 visits/mo 0.1 miles

The Tire Choice Shops & Services

447 visits/mo 0.4 miles

Rodeway Inn Hotels & Casinos

410 visits/mo 0.5 miles

Demographics for 18512, PA

12,081

Population

6,272

Households

1.9

Avg Household Size

44

Median Age

29%

College-Educated

92%

High-School Grad

11.3 sq mi

ZIP Area

1,069

Density / Sq Mi

$63,097

Median Household Income

$43,249

Median Earnings

$927

Median Rent

$173,500

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - C2-zoned commercial building with rear off-street parking and a basement for additional functional space.

Where is this storefront property located?

The property is located at 214 George Street Throop, PA.

What is the asking price?

The asking price for this property is $249,900.

What are key features of this property?

This property features: 1,624‑square‑foot retail storefront building; 0.1745‑acre commercial parcel; C2 zoning