Assisted Living Facility with Commercial
For Sale
Contact for pricing
306 W Main St, Pen Argyl, PA 18072
Recently updated former hospital building with resident rooms, dining areas, sitting rooms, and operational infrastructure already in place.
Property Size10,600 SF
Lot Size0.63 Acres
Price / SF$93.87
Days on Market147
Property Features for 306 W Main St
General Information
Standard status
Active
Size
10,600 SF
Lot size
0.63 Acres
Property subtype
Senior Living
Zoning
IL
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Business Included
Yes
Amenities
commercial kitchen
large dining room
many dens and sitting rooms
laundry capabilities
Building Details
Year Built
1900
Year Renovated
2023
Buildings
1
Stories
2
Units
25
Construction
brick
Abandoned
No
Listing Agency:
TACM Commercial Realty
(570) 801-6170
Listed By:
Jennifer Mickens · License #PA RB068478
Source:
Crexi
Added: Apr 7
Changed: Aug 30
Last Checked: Aug 30 at 7:15PM
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 TACM Commercial Realty
Investment Insights
Based on property information with market context.
Gap View Personal Care Home is an assisted living facility in a converted former hospital building. The all-brick main structure contains 10,600 SF and is licensed for 25 beds, with private, semi-private, and shared room configurations. Some rooms include private baths, while others use shared baths. Interior features include a commercial kitchen, large dining room, multiple dens and sitting rooms, laundry facilities, and established power, plumbing, and heating systems.
The property occupies approximately 0.63 acres and has operated as a personal care facility since its conversion in 2007. Recent ownership improvements include cosmetic interior work, window replacements, and other updates. Furniture, fixtures, and equipment are included, along with an experienced staff in place. Current occupancy is above 90%. The facility is within 1 hour of major urban centers, accessible from a nearby interstate, and close to regional healthcare systems.
The property occupies approximately 0.63 acres and has operated as a personal care facility since its conversion in 2007. Recent ownership improvements include cosmetic interior work, window replacements, and other updates. Furniture, fixtures, and equipment are included, along with an experienced staff in place. Current occupancy is above 90%. The facility is within 1 hour of major urban centers, accessible from a nearby interstate, and close to regional healthcare systems.
Key Highlights
- Licensed for 25 beds with private, semi‑private, and shared room configurations
- 10,600 SF all‑brick main building on approximately 0.63 acres
- Converted from a former hospital into personal care use in 2007
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
$64,503
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
6.48%
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%
$1,290,060
$1.3M
Cap Rate 7%
$921,471
$921.5K
Cap Rate 9%
$716,700
$716.7K
Market Conditions
NOI Build-Up for 10,600 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
$127.2K $12.00/SF
− Vacancy
−$9.9K −$0.94/SF
EGI
$117.3K $11.06/SF
− OpEx
−$52.8K −$4.98/SF
NOI
$64.5K $6.09/SF
Area
Northampton County, PA
Vacancy
7.80%
Lease Rate
$12.00 /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%
$1,290,060
Cap Rate 7%
$921,471
Cap Rate 9%
$716,700
Alternative Uses
Best Use
Apartment 5plus
$921.5K
$806.3K – $1.08M
NOI $64,503 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,734 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18072, PA
6,734
Population
2,779
Households
2.4
Avg Household Size
43
Median Age
23%
College-Educated
87%
High-School Grad
14.9 sq mi
ZIP Area
452
Density / Sq Mi
$79,067
Median Household Income
$41,056
Median Earnings
$1,525
Median Rent
$244,100
Median Home Value
Questions? Ask Rey
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Similar Off Market Nearby
- Morning Star Manor Inc. — 306 w main st, pen argyl, pa 18072
Frequently Asked Questions
What type of property is this?
Assisted living facility - Recently updated former hospital building with resident rooms, dining areas, sitting rooms, and operational infrastructure already in place.
Where is this assisted living facility located?
The property is located at 306 W Main St Pen Argyl, PA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Licensed for 25 beds with private, semi‑private, and shared room configurations; 10,600 SF all‑brick main building on approximately 0.63 acres; Converted from a former hospital into personal care use in 2007
