Building Details

Year Built 1995

Listing Agency: Hibble Harris Real Estate, Inc Show Phone

Listed By: John Paul Scanlan · License #RS372415 Show Phone

Source: Exitrealty

Added: May 21, 2025 Changed: Sep 2 Last Checked: Aug 30 at 1:19PM

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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 Hibble Harris Real Estate, Inc

Investment Insights

Based on property information with market context.

This 2,600-square-foot mixed-use building was constructed in 1995 as a bank and retains its original vault. The interior includes a broad open area and a private office, creating a practical configuration for office, retail, or a combination of uses.

The property occupies nearly one acre at 347–349 Main Street in Simpson, Pennsylvania. Parking is available for customers and staff, adding functional support for the building’s commercial layout. The existing vault provides secure storage capability and a distinctive physical feature within the property.

Key Highlights

• 2,600‑square‑foot mixed‑use building constructed in 1995
• Former bank property with original vault
• Open interior area plus private office

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

$26,325

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

7.52%

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%

$526,500 $526.5K

Cap Rate 7%

$376,071 $376.1K

Cap Rate 9%

$292,500 $292.5K

Market Conditions

NOI Build-Up for 2,600 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

$46.8K $18.00/SF

− Vacancy

−$4.7K −$1.80/SF

EGI

$42.1K $16.20/SF

− OpEx

−$15.8K −$6.07/SF

NOI

$26.3K $10.13/SF

Area

Lackawanna County, PA

Vacancy

10.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

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%

$526,500

Cap Rate 7%

$376,071

Cap Rate 9%

$292,500

Alternative Uses

Best Use

Office B

$477.3K

$417.7K – $556.9K (±1% cap)

NOI $33,412 @ 7.0% cap · market cap 9.55%

Second Best

Mixed Use

$376.1K

$329.1K – $438.8K (±1% cap)

NOI $26,325 @ 7.0% cap · market cap 7.52%

Theoretical Best

Office A

$659.9K

$577.4K – $769.9K (±1% cap)

NOI $46,195 @ 7.0% cap · market cap 13.20%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Parking Lot & Garage Electrical Service Law Firm Pharmacy Dental Office Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

186

Businesses Nearby

Explore this area Business Placement

Demographics for 18407, PA

14,047

Population

7,028

Households

2

Avg Household Size

43

Median Age

26%

College-Educated

92%

High-School Grad

41.5 sq mi

ZIP Area

338

Density / Sq Mi

$57,261

Median Household Income

$40,174

Median Earnings

$826

Median Rent

$142,600

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Flexible interior includes an open area, private office, and original vault for secure storage or distinctive design.

Where is this mixed-use property located?

The property is located at 347 349 Main Street Simpson, PA.

What is the asking price?

The asking price for this property is $349,999.

What are key features of this property?

This property features: 2,600‑square‑foot mixed‑use building constructed in 1995; Former bank property with original vault; Open interior area plus private office