Mixed-Use Property with
For Sale
$1,749,995
310-312 E Lackawanna Avenue, Olyphant, PA 18447
Renovated apartments complement multiple commercial storefronts in downtown Olyphant.
Property Size11,000 SF
Days on Market174
Property Features for 310-312 E Lackawanna Avenue
General Information
Standard status
Active
Size
11,000 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$9,917
Building Details
Building Size
11,000 SF
Year Built
1920
Tenancy
Multi
Listing Agency:
The Hub Real Estate Group Scranton
(570) 489-2563
Listed By:
Pat Rogan · License #RS329526
Source:
Luxehomesnepa
Added: Feb 11
Changed: Aug 3
Last Checked: Aug 4 at 8:22AM
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 The Hub Real Estate Group Scranton
Investment Insights
Based on property information with market context.
Built in 1920, this mixed-use property combines nine residential apartments with four commercial storefronts for a total of 13 units. The apartments have been updated with new cabinetry, granite countertops, and stainless steel appliances, giving the residential component a contemporary interior finish. The storefront portion adds commercial space at the property’s street level.
The building is located on E Lackawanna Avenue in downtown Olyphant, with the commercial spaces positioned to benefit from both pedestrian and vehicle activity. Its combination of renovated residential units and street-facing storefronts creates a varied property configuration within one building.
The building is located on E Lackawanna Avenue in downtown Olyphant, with the commercial spaces positioned to benefit from both pedestrian and vehicle activity. Its combination of renovated residential units and street-facing storefronts creates a varied property configuration within one building.
Key Highlights
- 13 total units: 9 apartments and 4 commercial storefronts
- All 9 apartments recently renovated
- Apartment upgrades include new cabinetry, granite countertops, and stainless steel appliances
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $198.0k | $18.00 |
| − Vacancy | −$19.8k | −$1.80 |
| EGI | $178.2k | $16.20 |
| − OpEx | −$66.8k | −$6.07 |
| NOI | $111.4k | $10.13 |
11,000 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.59M
$1.39M – $1.86M
NOI $111,375 @ 7.0% cap · market cap 6.36%
Second Best
Retail
$1.48M
$1.29M – $1.72M
NOI $103,373 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$2.79M
$2.44M – $3.26M
NOI $195,440 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
201
Businesses Nearby
Explore this area
Business Placement
Demographics for 18447, PA
10,362
Population
4,799
Households
2.2
Avg Household Size
45
Median Age
28%
College-Educated
96%
High-School Grad
19.9 sq mi
ZIP Area
521
Density / Sq Mi
$64,276
Median Household Income
$42,470
Median Earnings
$971
Median Rent
$194,600
Median Home Value
Market
Properties on Market for Mixed-use properties in Lackawanna County
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated apartments complement multiple commercial storefronts in downtown Olyphant.
Where is this mixed-use property located?
The property is located at 310-312 E Lackawanna Avenue Olyphant, PA.
What is the asking price?
The asking price for this property is $1,749,995.
What are key features of this property?
This property features: 13 total units: 9 apartments and 4 commercial storefronts; All 9 apartments recently renovated; Apartment upgrades include new cabinetry, granite countertops, and stainless steel appliances
