Mixed-Use Commercial Building with Separate
For Sale
$3,500,000
400 Route 315 Hwy, Pittston, PA 18640
Well-maintained mixed-use building with separate gas and electric meters and a rubber roof in very good condition.
Property Size22,500 SF
Price / SF$155.56
Days on Market512
Property Features for 400 Route 315 Hwy
General Information
Standard status
Active
Size
22,500 SF
Site & Location
Traffic Count
15,000 vehicles/day
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$46,699
Building Details
Tenancy
Multi
Listing Agency:
O BOYLE REAL ESTATE LLC
Listed By:
Christopher O'Boyle · License #RM424350
(570) 586-2911
Source:
Exprealty
Added: Apr 18, 2025
Changed: Sep 4
Last Checked: Sep 10 at 1:46PM
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 O BOYLE REAL ESTATE LLC
Investment Insights
Based on property information with market context.
Well-maintained mixed-use commercial building offered for sale at 400 Route 315 Hwy, Pittston, PA. The property features a rubber roof in very good condition and separate gas and electric meters to all units. Tenant occupancy includes Southwest X-Ray, Envy Nails, Gregory Center, T Mobile, HCSC Blood Center, and University of Pittsburgh.
The building is situated on busy Route 315 next to Wal Mart, with AADT reported at 15,000.
This setup provides a straightforward, multi-tenant configuration with individually metered utilities for each unit.
The building is situated on busy Route 315 next to Wal Mart, with AADT reported at 15,000.
This setup provides a straightforward, multi-tenant configuration with individually metered utilities for each unit.
Key Highlights
- Mixed‑use commercial building on busy Route 315 next to Wal‑Mart
- Tenant lineup includes Southwest X‑Ray, Envy Nails, Gregory Center, T Mobile, HCSC Blood Center, and University of Pittsburgh
- Separate gas and electric meters to all units
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
$266,814
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
7.62%
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%
$5,336,280
$5.3M
Cap Rate 7%
$3,811,629
$3.8M
Cap Rate 9%
$2,964,600
$3.0M
Market Conditions
NOI Build-Up for 22,500 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
$494.1K $21.96/SF
− Vacancy
−$49.4K −$2.20/SF
EGI
$444.7K $19.76/SF
− OpEx
−$177.9K −$7.91/SF
NOI
$266.8K $11.86/SF
Area
Luzerne County, PA
Vacancy
10.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
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%
$5,336,280
Cap Rate 7%
$3,811,629
Cap Rate 9%
$2,964,600
Alternative Uses
Best Use
Office B
$5.67M
$4.96M – $6.62M
NOI $396,941 @ 7.0% cap · market cap 11.34%
Second Best
Healthcare Medical
$3.81M
$3.34M – $4.45M
NOI $266,814 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$7.13M
$6.24M – $8.32M
NOI $498,960 @ 7.0% cap · market cap 14.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18640, PA
16,351
Population
8,036
Households
2
Avg Household Size
46
Median Age
25%
College-Educated
94%
High-School Grad
27.9 sq mi
ZIP Area
586
Density / Sq Mi
$57,358
Median Household Income
$39,733
Median Earnings
$890
Median Rent
$135,200
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 Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained mixed-use building with separate gas and electric meters and a rubber roof in very good condition.
Where is this medical office space located?
The property is located at 400 Route 315 Hwy Pittston, PA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Mixed‑use commercial building on busy Route 315 next to Wal‑Mart; Tenant lineup includes Southwest X‑Ray, Envy Nails, Gregory Center, T Mobile, HCSC Blood Center, and University of Pittsburgh; Separate gas and electric meters to all units
