Medical Office Building with Exam
For Sale
$1,200,000
401 N State St, Clarks Summit, PA 18411
Medical office building for sale with multiple exam rooms, private offices, and on-site parking for 27+ vehicles.
Property Size4,690 SF
Price / SF$255.86
Days on Market363
Property Features for 401 N State St
General Information
Standard status
Active
Size
4,690 SF
Taxes and HOA fees
Annual Taxes
$13,525
Listing Agency:
ERA One Source Realty
(570) 877-2778
Listed By:
Manju Verma · License #RS375147
(570) 877-2778
Source:
Exprealty
Added: Sep 4, 2025
Changed: Aug 21
Last Checked: Aug 31 at 7:47PM
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 ERA One Source Realty
Investment Insights
Based on property information with market context.
This medical office building offers a flexible layout designed for healthcare use, with a main level that includes a large waiting room, two dedicated reception areas, five private offices, and seven exam rooms. The space also features specialized areas including an Echo room and a Nuclear Stress room, along with conference and bonus rooms, a pantry, and utility/storage support space. For convenience, the main level includes three bathrooms and a wide hallway to support patient and staff traffic flow.
The property includes a large attic with the ability to build another floor, with a portion described as partially finished. A second level provides split-level space, including an area that functions as workspace with three-plus rooms and a kitchen, plus an additional area with 2 bedrooms and 2 bathrooms.
Parking is available in a dedicated lot with 27+ spaces. The offering is for sale and includes 4,690 sq. ft., plus a large addition creating additional multi-purpose functionality.
The property includes a large attic with the ability to build another floor, with a portion described as partially finished. A second level provides split-level space, including an area that functions as workspace with three-plus rooms and a kitchen, plus an additional area with 2 bedrooms and 2 bathrooms.
Parking is available in a dedicated lot with 27+ spaces. The offering is for sale and includes 4,690 sq. ft., plus a large addition creating additional multi-purpose functionality.
Key Highlights
- Medical office building with 4,690 sq. ft. plus a large addition for flexible multi‑use space
- Main level includes 2 reception areas, large waiting room, 5 private offices, and 7 exam rooms
- Specialized care space includes an Echo room and a Nuclear Stress room
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
$60,270
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
5.02%
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%
$1,205,400
$1.2M
Cap Rate 7%
$861,000
$861.0K
Cap Rate 9%
$669,667
$669.7K
Market Conditions
NOI Build-Up for 4,690 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
$94.0K $20.04/SF
− Vacancy
−$13.6K −$2.91/SF
EGI
$80.4K $17.13/SF
− OpEx
−$20.1K −$4.28/SF
NOI
$60.3K $12.85/SF
Area
Lackawanna County, PA
Vacancy
14.50%
Lease Rate
$20.04 /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%
$1,205,400
Cap Rate 7%
$861,000
Cap Rate 9%
$669,667
Alternative Uses
Best Use
Office B
$861.0K
$753.4K – $1.00M
NOI $60,270 @ 7.0% cap · market cap 5.02%
Second Best
Healthcare Medical
$790.1K
$691.3K – $921.8K
NOI $55,307 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,329 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18411, PA
22,851
Population
9,375
Households
2.4
Avg Household Size
45
Median Age
51%
College-Educated
96%
High-School Grad
55.4 sq mi
ZIP Area
412
Density / Sq Mi
$96,471
Median Household Income
$51,224
Median Earnings
$1,253
Median Rent
$274,200
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?
Medical Office Space - Medical office building for sale with multiple exam rooms, private offices, and on-site parking for 27+ vehicles.
Where is this medical office space located?
The property is located at 401 N State St Clarks Summit, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Medical office building with 4,690 sq. ft. plus a large addition for flexible multi‑use space; Main level includes 2 reception areas, large waiting room, 5 private offices, and 7 exam rooms; Specialized care space includes an Echo room and a Nuclear Stress room
