Leased Two-Building Storefront
For Sale
$2,450,000
2889 Route 611, Tannersville, PA 18372
NNN lease structure extends through March 2027 across two separate commercial buildings.
Property Size15,214 SF
Lot Size1.54 Acres
Price / SF$161.04
Days on Market86
Property Features for 2889 Route 611
General Information
Standard status
Active
Size
15,214 SF
Lot size
1.54 Acres
Occupancy
100%
Site & Location
Traffic Count
12,579 vehicles/day
Highway Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$26,441
Building Details
Buildings
2
Listing Agency:
Davis R. Chant - Milford
(570) 703-3468
Listed By:
Dana Sheffer
(570) 703-3468
Source:
Exprealty
Added: Jun 7
Changed: Aug 30
Last Checked: Aug 30 at 6:59PM
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 Davis R. Chant - Milford
Investment Insights
Based on property information with market context.
This 15,214-square-foot storefront property comprises two separate commercial buildings on a 1.54-acre site. The buildings are fully leased under NNN lease terms expiring in March 2027 and are currently used for retail wholesale operations. A small storage shed is also positioned near the rear of the lot.
The property fronts Route 611 with 303 total square feet of road frontage and a reported daily traffic count of 12,579. It is near the I-80 eastbound and westbound access ramps and the Premium Shopping Outlets in Tannersville. Camelback Resort and Great Wolf Lodge are within a five-minute drive, while Kalahari is within a ten-minute drive. Public water and sewer serve the site, and large vertical signs are included.
The property fronts Route 611 with 303 total square feet of road frontage and a reported daily traffic count of 12,579. It is near the I-80 eastbound and westbound access ramps and the Premium Shopping Outlets in Tannersville. Camelback Resort and Great Wolf Lodge are within a five-minute drive, while Kalahari is within a ten-minute drive. Public water and sewer serve the site, and large vertical signs are included.
Key Highlights
- 15,214 square feet of commercial space across two separate buildings
- Fully leased under NNN terms through March 2027
- 1.54‑acre commercial site with a small rear storage shed
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
$171,568
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
7.00%
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%
$3,431,360
$3.4M
Cap Rate 7%
$2,450,971
$2.5M
Cap Rate 9%
$1,906,311
$1.9M
Market Conditions
NOI Build-Up for 15,214 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
$273.9K $18.00/SF
− Vacancy
−$28.8K −$1.89/SF
EGI
$245.1K $16.11/SF
− OpEx
−$73.5K −$4.83/SF
NOI
$171.6K $11.28/SF
Area
Monroe County, PA
Vacancy
10.50%
Lease Rate
$18.00 /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%
$3,431,360
Cap Rate 7%
$2,450,971
Cap Rate 9%
$1,906,311
Alternative Uses
Best Use
Retail
$2.45M
$2.14M – $2.86M
NOI $171,568 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.55M
$3.98M – $5.31M
NOI $318,764 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12,579 VPD
Traffic count
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
386
Businesses Nearby
388k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 62%
Shops & Services 16%
Groceries 10%
Dining 8%
Weis Markets
Groceries
38,369 visits/mo
0.5 miles
Adidas
Apparel
33,340 visits/mo
0.3 miles
Wendy's
Dining
30,861 visits/mo
0.3 miles
Polo Ralph Lauren
Apparel
29,948 visits/mo
0.2 miles
Mobil
Shops & Services
26,255 visits/mo
0.4 miles
Demographics for 18372, PA
2,673
Population
1,741
Households
1.5
Avg Household Size
45
Median Age
24%
College-Educated
82%
High-School Grad
7.7 sq mi
ZIP Area
347
Density / Sq Mi
$114,334
Median Household Income
$35,981
Median Earnings
$1,714
Median Rent
$306,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - NNN lease structure extends through March 2027 across two separate commercial buildings.
Where is this storefront property located?
The property is located at 2889 Route 611 Tannersville, PA.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 15,214 square feet of commercial space across two separate buildings; Fully leased under NNN terms through March 2027; 1.54‑acre commercial site with a small rear storage shed
