15-Unit Apartment
For Sale
$1,999,999
306 Merwinsburg Road, Effort, PA 18330
Commercial Sale, Effort, PA
Property Size10,546 SF
Lot Size21.16 Acres
Price / SF$189.65
Days on Market231
Property Features for 306 Merwinsburg Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Zoning description
Commercial
Rooms
Basement
Exterior features
Covered Courtyard, Lighting
Basement
Unfinished, Walk-Out Access, Exterior Entry
Lot features
Level, Sloped, Agricultural, Cleared, Wooded, Paved
Elementary school district
Pleasant Valley
Middle school district
Pleasant Valley
High school district
Pleasant Valley
Subdivision
Chestnuthill Township
Standard status
Active
APN
02.13.1.31
Size
10,546 SF
Lot size
21.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 1
Tax Annual Amount
19486
Legal Description
Lot 1
Utilities
Sewer type
Perc Test On File, Septic Tank
Heating system
Baseboard, Electric (Heating)
Water source
Well
Water front
1
Building Details
Year built
1902
Floors in Building
2
Flooring type
Carpet, Tile, Vinyl, Laminate
Building materials
Aluminum Siding, Vinyl Siding
Roof type
Asphalt, Fiberglass, Shingle
Listing Agency:
Keller Williams Real Estate - Stroudsburg 637 Main · Keller Williams Realty
Listed By:
Bob Kelly
(570) 213-4884
Added: Jan 31
Changed: Sep 15
Last Checked: Sep 19 at 9:06PM
MLS# PM-138594
Copyright © 2026 Pocono Mountains Association of Realtors. 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 15-unit apartment property occupies 21.16 acres and contains 10,546 square feet of improvements. Long-term tenants are currently in place, and approximately 75% of the units have been remodeled. The buildings offer varied layouts, including cabin-style, traditional apartment, and studio configurations, along with a vacant residential structure requiring renovation. The property was built in 1902 and includes vinyl and aluminum siding, multiple flooring types, electric baseboard heat, well water, and septic service.
Previously operated as a motel, the property is zoned General Commercial (GC). Existing site features include a pond, covered courtyard, exterior lighting, asphalt-shingle roofing, and parking serving the units. The location at 306 Merwinsburg Road in Effort provides access to Lake Harmony, Big Boulder, Jack Frost, Camelback, Kalahari, Great Wolf Lodge, Aquatopia, Pocono Raceway, Pocono Premium Outlets, Mount Airy Casino, and Beltzville Lake.
Previously operated as a motel, the property is zoned General Commercial (GC). Existing site features include a pond, covered courtyard, exterior lighting, asphalt-shingle roofing, and parking serving the units. The location at 306 Merwinsburg Road in Effort provides access to Lake Harmony, Big Boulder, Jack Frost, Camelback, Kalahari, Great Wolf Lodge, Aquatopia, Pocono Raceway, Pocono Premium Outlets, Mount Airy Casino, and Beltzville Lake.
Key Highlights
- 15‑unit apartment property with long‑term tenants in place
- 21.16 acres with 10,546 square feet of improvements
- Approximately 75% of units recently remodeled
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
$94,510
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
4.73%
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%
$1,890,200
$1.9M
Cap Rate 7%
$1,350,143
$1.4M
Cap Rate 9%
$1,050,111
$1.1M
Market Conditions
NOI Build-Up for 10,546 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
$178.4K $16.92/SF
− Vacancy
−$6.6K −$0.63/SF
EGI
$171.8K $16.29/SF
− OpEx
−$77.3K −$7.33/SF
NOI
$94.5K $8.96/SF
Area
Monroe County, PA
Vacancy
3.70%
Lease Rate
$16.92 /SF/Yr
Expense Ratio
45.00%
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%
$1,890,200
Cap Rate 7%
$1,350,143
Cap Rate 9%
$1,050,111
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.58M
NOI $94,510 @ 7.0% cap · market cap 4.73%
Second Best
Hotel Hospitality
$1.16M
$1.01M – $1.35M
NOI $81,151 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$3.16M
$2.76M – $3.68M
NOI $220,960 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 18330, PA
8,351
Population
3,196
Households
2.6
Avg Household Size
42
Median Age
23%
College-Educated
94%
High-School Grad
14.5 sq mi
ZIP Area
576
Density / Sq Mi
$92,907
Median Household Income
$41,313
Median Earnings
$1,809
Median Rent
$251,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Existing long-term tenants occupy varied layouts on a General Commercial property with on-site parking.
Where is this apartment building located?
The property is located at 306 Merwinsburg Road Effort, PA.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: 15‑unit apartment property with long‑term tenants in place; 21.16 acres with 10,546 square feet of improvements; Approximately 75% of units recently remodeled
