Medical Office
For Sale
$1,200,000
401 N State Street, Clarks Summit, PA 18411
Commercial Sale, Clarks Summit, PA
Property Size4,690 SF
Lot Size0.54 Acres
Price / SF$255.86
Days on Market352
Property Features for 401 N State Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Parking features
Parking Lot, Off Street, Guest
Security features
Security System
Exterior features
Lighting, Private Entrance
Lot features
City Lot, Paved, Open Lot, Level, Cleared
Elementary school district
Abington Heights
Middle school district
Abington Heights
High school district
Abington Heights
Directions
Take Northern Blvd north, make left onto 401 North State Street. Property located on the left side.
Standard status
Active
APN
0901502003300
Size
4,690 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
13526
Utilities
Sewer type
Public Sewer
Heating system
Space Heater, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Number of units
1
Flooring type
Carpet, Tile - Ceramic, Laminate
Roof type
Shingle
Listing Agency:
ERA One Source Realty · ERA Real Estate
(570) 587-9999
Listed By:
Manju Verma · License #RS375147
(570) 877-2778
Added: Sep 3, 2025
Changed: Aug 19
Last Checked: Aug 20 at 9:06PM
MLS# SC254512
Copyright © 2026 Greater Scranton Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Medical office building for sale at 401 N State Street, Clarks Summit, PA 18411, offering 4,690 SF plus a large addition creating multi-purpose, functional space. Built in 1950, the property includes a main level designed for patient and staff flow with a large waiting room, 2 dedicated reception areas, 5 private offices, 7 exam rooms, and specialized rooms including an Echo room and a Nuclear Stress room. Additional main-level conveniences include a bonus room that can function as a master office or small conference room, 3 bathrooms, a pantry, a conference room, and a utility room.
The second level includes a split-level configuration with one area that serves as a workspace with 3+ rooms suitable for offices with a kitchen, plus a second area with 2 BD/2 BA. There is also a large attic that can be used to build another floor (partially finished). Exterior features include lighting and a private entrance, and the property is served by public water and public sewer.
The parking lot provides 27+ off-street spaces for guests and daily use. The building has central air cooling, natural gas heating, and interior flooring including laminate, ceramic tile, and carpet.
The second level includes a split-level configuration with one area that serves as a workspace with 3+ rooms suitable for offices with a kitchen, plus a second area with 2 BD/2 BA. There is also a large attic that can be used to build another floor (partially finished). Exterior features include lighting and a private entrance, and the property is served by public water and public sewer.
The parking lot provides 27+ off-street spaces for guests and daily use. The building has central air cooling, natural gas heating, and interior flooring including laminate, ceramic tile, and carpet.
Key Highlights
- 4,690 SF plus a large addition for flexible multi‑purpose use
- 0.54‑acre lot with a medical office layout for patients and staff
- Parking lot with 27+ off‑street spaces
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical center - C2-zoned medical office building with central air and public water and sewer services.
Where is this medical center located?
The property is located at 401 N State Street 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: 4,690 SF plus a large addition for flexible multi‑purpose use; 0.54‑acre lot with a medical office layout for patients and staff; Parking lot with 27+ off‑street spaces
