Restaurant and Banquet
For Sale
$425,000
Pending
258 Charles St, Luzerne, PA 18709
Includes a liquor license, apartment units, a garage, and dedicated parking within a B-4 General Business district.
Property Size3,200 SF
Days on Market294
Property Features for 258 Charles St
General Information
Standard status
Pending
Size
3,200 SF
Property subtype
Commercial
Listing Agency:
Century 21 Signature Properties
Listed By:
Michael Slacktish
Source:
Nepahousehunt
Added: Nov 10, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:56PM
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 Century 21 Signature Properties
Investment Insights
Based on property information with market context.
This property combines an operating restaurant and banquet business with additional improvements at multiple Charles Street addresses. The offering includes 260 Charles St, a three-unit building; R260 Charles, containing a garage and apartment; and 264 Charles St, which provides a parking lot. A liquor license is included with the restaurant operation.
The property is located in Luzerne, Pennsylvania, and carries B-4 General Business zoning. The configuration brings together restaurant and banquet facilities, residential units, garage space, and off-site parking within the same offering.
The property is located in Luzerne, Pennsylvania, and carries B-4 General Business zoning. The configuration brings together restaurant and banquet facilities, residential units, garage space, and off-site parking within the same offering.
Key Highlights
- Operating restaurant and banquet business included
- Three‑unit building at 260 Charles St
- R260 Charles includes a garage and apartment
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
$34,488
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
8.11%
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%
$689,760
$689.8K
Cap Rate 7%
$492,686
$492.7K
Cap Rate 9%
$383,200
$383.2K
Market Conditions
NOI Build-Up for 3,200 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
$48.0K $15.00/SF
− Vacancy
−$2.0K −$0.63/SF
EGI
$46.0K $14.37/SF
− OpEx
−$11.5K −$3.59/SF
NOI
$34.5K $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%
$689,760
Cap Rate 7%
$492,686
Cap Rate 9%
$383,200
Alternative Uses
Best Use
Specialty Retail
$492.7K
$431.1K – $574.8K
NOI $34,488 @ 7.0% cap · market cap 8.11%
Second Best
Multifamily LT 5
$368.9K
$322.8K – $430.4K
NOI $25,825 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$1.01M
$887.0K – $1.18M
NOI $70,963 @ 7.0% cap · market cap 16.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18709, PA
2,779
Population
1,648
Households
1.7
Avg Household Size
46
Median Age
14%
College-Educated
88%
High-School Grad
0.8 sq mi
ZIP Area
3,474
Density / Sq Mi
$38,547
Median Household Income
$34,959
Median Earnings
$780
Median Rent
$113,700
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Conventional restaurant - Includes a liquor license, apartment units, a garage, and dedicated parking within a B-4 General Business district.
Where is this conventional restaurant located?
The property is located at 258 Charles St Luzerne, 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: Operating restaurant and banquet business included; Three‑unit building at 260 Charles St; R260 Charles includes a garage and apartment
