Millerton Commercial Property with Expansion
For Sale
$289,900
2362 Pumpkin Hill Road, Millerton, PA 16936
COMMERCIAL - Millerton, PA
Property Size4,800 SF
Lot Size9.51 Acres
Price / SF$60.40
Days on Market127
Property Features for 2362 Pumpkin Hill Road
General Information
Property type
Commercial Sale
Property subtype
Other
Elementary school district
Northern Tioga
Middle school district
Northern Tioga
High school district
Northern Tioga
Subdivision
Tioga
Standard status
Active
Size
4,800 SF
Lot size
9.51 Acres
Amenities
high-speed internet
Building Details
Year built
2012
Listing Agency:
Howard Hanna Southern Tier
(607) 936-4663
Listed By:
Joshua White · License #10401311637
(607) 207-6969
Added: Apr 19
Changed: Aug 4
Last Checked: Aug 23 at 8:06PM
MLS# 31727224
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 versatile 9.5-acre property features a metal building constructed in 2012, offering approximately 4,800 square feet of space. The structure includes three 14-foot overhead doors and finished office space. Additional upper-level space is available, suitable for storage or future expansion. The property is equipped with 400-amp electric service and high-speed internet availability. Ample on-site parking is provided. A drilled well is present, and a perc test has been completed, though a septic system is not yet installed. This offers flexibility for various uses, including potential conversion to a barndominium-style residence or finishing the existing office space into living quarters, subject to necessary approvals. The property has frontage on two roads and offers convenient access to Elmira, Troy, and Mansfield. It is ideal for contractors, storage, or general business operations. The buyer is responsible for verifying permitted uses.
Key Highlights
- Large 60x80 (4,800 sq ft) metal building constructed in 2012.
- 9.5‑acre property with frontage on two roads.
- Equipped with three 14' overhead doors and 400‑amp electric service.
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
$26,490
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
9.14%
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%
$529,800
$529.8K
Cap Rate 7%
$378,429
$378.4K
Cap Rate 9%
$294,333
$294.3K
Market Conditions
NOI Build-Up for 4,800 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
$42.0K $8.76/SF
− Vacancy
−$4.2K −$0.88/SF
EGI
$37.8K $7.88/SF
− OpEx
−$11.4K −$2.37/SF
NOI
$26.5K $5.52/SF
Area
Luzerne County, PA
Vacancy
10.00%
Lease Rate
$8.76 /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%
$529,800
Cap Rate 7%
$378,429
Cap Rate 9%
$294,333
Alternative Uses
Best Use
Warehouse
$488.6K
$427.5K – $570.0K
NOI $34,201 @ 7.0% cap · market cap 11.80%
Second Best
Industrial
$378.4K
$331.1K – $441.5K
NOI $26,490 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,445 @ 7.0% cap · market cap 36.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 16936, PA
2,111
Population
1,038
Households
2
Avg Household Size
49
Median Age
16%
College-Educated
93%
High-School Grad
47.6 sq mi
ZIP Area
44
Density / Sq Mi
$56,958
Median Household Income
$41,147
Median Earnings
$932
Median Rent
$166,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Versatile 9.5-acre property with 4,800 sq ft metal building.
Where is this flex space located?
The property is located at 2362 Pumpkin Hill Road Millerton, PA.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Large 60x80 (4,800 sq ft) metal building constructed in 2012.; 9.5‑acre property with frontage on two roads.; Equipped with **three 14' overhead doors** and 400‑amp electric service.
