Two-Story Office
For Sale
$449,900
308 W Harford St, Milford, PA 18337
Standalone professional property with private offices, client reception, conference space, storage, parking, and a detached garage.
Property Size1,128 SF
Price / SF$398.85
Days on Market88
Property Features for 308 W Harford St
General Information
Standard status
Active
Size
1,128 SF
Taxes and HOA fees
Annual Taxes
$7,826
Building Details
Buildings
1
Stories
2
Listing Agency:
Iron Valley R E Innovate
(570) 647-5809
Listed By:
Charlie Kimler
(570) 647-5809
Source:
Exprealty
Added: May 15
Changed: Aug 9
Last Checked: Aug 9 at 5:50AM
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 Iron Valley R E Innovate
Investment Insights
Based on property information with market context.
Located at 308 W Harford St in Milford, PA, this standalone two-story office building provides a professional setting with 1,128 SF of office space. The layout includes four private offices, a reception area, and a conference room, with hardwood floors and large windows throughout. A dedicated entrance ramp and wraparound deck add practical access and exterior character.
Additional space includes 800 SF of secure storage, basement storage, and walk-up attic storage. The property also includes a detached two-car garage and a private parking lot. Its downtown Milford setting places the building within walking distance of the Pike County Courthouse, County Administration Building, six real estate brokerages, the Post Office, a bank, and restaurants.
Additional space includes 800 SF of secure storage, basement storage, and walk-up attic storage. The property also includes a detached two-car garage and a private parking lot. Its downtown Milford setting places the building within walking distance of the Pike County Courthouse, County Administration Building, six real estate brokerages, the Post Office, a bank, and restaurants.
Key Highlights
- 1,128 SF office building with four private offices, reception area, and conference room
- 800 SF of secure storage, plus basement and walk‑up attic storage
- Detached two‑car garage and private parking lot
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
$13,857
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
3.08%
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%
$277,140
$277.1K
Cap Rate 7%
$197,957
$198.0K
Cap Rate 9%
$153,967
$154.0K
Market Conditions
NOI Build-Up for 1,128 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
$23.7K $21.00/SF
− Vacancy
−$5.2K −$4.62/SF
EGI
$18.5K $16.38/SF
− OpEx
−$4.6K −$4.10/SF
NOI
$13.9K $12.29/SF
Area
Pike County, PA
Vacancy
22.00%
Lease Rate
$21.00 /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%
$277,140
Cap Rate 7%
$197,957
Cap Rate 9%
$153,967
Alternative Uses
Best Use
Office B
$198.0K
$173.2K – $231.0K
NOI $13,857 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$275.3K
$240.9K – $321.2K
NOI $19,269 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Explore this area
Business Placement
Demographics for 18337, PA
15,519
Population
7,615
Households
2
Avg Household Size
47
Median Age
33%
College-Educated
95%
High-School Grad
71.8 sq mi
ZIP Area
216
Density / Sq Mi
$89,935
Median Household Income
$48,022
Median Earnings
$1,507
Median Rent
$284,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Standalone professional property with private offices, client reception, conference space, storage, parking, and a detached garage.
Where is this office building located?
The property is located at 308 W Harford St Milford, PA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 1,128 SF office building with four private offices, reception area, and conference room; 800 SF of secure storage, plus basement and walk‑up attic storage; Detached two‑car garage and private parking lot
