Retail Building with
For Sale
$1,795,000
Pending
24 E Avenue, Wellsboro, PA 16901
COMMERCIAL - Wellsboro, PA
Property Size13,813 SF
Lot Size1.37 Acres
Days on Market336
Property Features for 24 E Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Half bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Elementary school district
Wellsboro Area
Middle school district
Wellsboro Area
High school district
Wellsboro Area
Subdivision
Tioga
Standard status
Pending
Size
13,813 SF
Lot size
1.37 Acres
Building Details
Year built
2003
Listing Agency:
Fish Real Estate
(570) 326-1561
Listed By:
Brent Fish · License #RM420632
(570) 326-1561
Added: Sep 22, 2025
Changed: Aug 4
Last Checked: Aug 23 at 11:06AM
MLS# 31727140
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 13,813 SF retail building was built in 2003 and is available for lease or sale. The property sits on a 1.37-acre corner lot and features a brick exterior, a drive-through, an overhead delivery door, and ample parking. The prior tenant was Rite Aid.
Located in historic Wellsboro, PA, the site offers visibility and a retail-ready configuration supported by existing on-site improvements for customer access and deliveries.
The building is described as well-suited for a variety of retail uses, including grocery, bank, credit union, or hardware. Interested parties should contact the broker for additional information on operating requirements and possible leasing or purchase structures.
Located in historic Wellsboro, PA, the site offers visibility and a retail-ready configuration supported by existing on-site improvements for customer access and deliveries.
The building is described as well-suited for a variety of retail uses, including grocery, bank, credit union, or hardware. Interested parties should contact the broker for additional information on operating requirements and possible leasing or purchase structures.
Key Highlights
- 13,813 SF retail building
- Drive‑through and overhead delivery door
- Built in 2003
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
$113,489
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
6.32%
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%
$2,269,780
$2.3M
Cap Rate 7%
$1,621,271
$1.6M
Cap Rate 9%
$1,260,989
$1.3M
Market Conditions
NOI Build-Up for 13,813 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
$169.1K $12.24/SF
− Vacancy
−$17.8K −$1.29/SF
EGI
$151.3K $10.95/SF
− OpEx
−$37.8K −$2.74/SF
NOI
$113.5K $8.22/SF
Area
Tioga County, PA
Vacancy
10.50%
Lease Rate
$12.24 /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%
$2,269,780
Cap Rate 7%
$1,621,271
Cap Rate 9%
$1,260,989
Alternative Uses
Best Use
Specialty Retail
$1.62M
$1.42M – $1.89M
NOI $113,489 @ 7.0% cap · market cap 6.32%
Second Best
Retail
$1.02M
$894.0K – $1.19M
NOI $71,520 @ 7.0% cap · market cap 3.98%
Theoretical Best
Healthcare Medical
$2.35M
$2.06M – $2.75M
NOI $164,710 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
Explore this area
Business Placement
Demographics for 16901, PA
10,561
Population
5,360
Households
2
Avg Household Size
47
Median Age
28%
College-Educated
93%
High-School Grad
230.4 sq mi
ZIP Area
46
Density / Sq Mi
$66,003
Median Household Income
$40,723
Median Earnings
$863
Median Rent
$210,500
Median Home Value
Market
Vacancy Rate% for Retail 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?
Retail space - Retail building built in 2003 on a 1.37-acre corner lot with drive-through and ample parking.
Where is this retail space located?
The property is located at 24 E Avenue Wellsboro, PA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 13,813 SF retail building; Drive‑through and overhead delivery door; Built in 2003
