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    Medical Office Building For Sale Title is generated by Realmo AI

    401 N State Street, Clarks Summit, PA 18411

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    For Sale
    $1,200,000

    COMMERCIAL - Clarks Summit, PA

    Property size:
    4,690 SF
    Lot size:
    0.54 Acres
    Price / SF:
    $255/SF
    Added:
    Sep 3, 2025
    Days on Market:
    255
    Last Refresh:
    May 15 at 4:06 pm

    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
    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
    Tile - Ceramic, Laminate, Carpet
    Roof type
    Shingle

    We can help!

    Listing Contact
    Manju Verma

    Listing agent Manju Verma License #RS375147

    Listing office ERA One Source Realty 230 Northern Blvd., Clarks Summit, PA

    Listing date Sep 3, 2025

    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.

    HighLights

    • Spacious 4,690 sq. ft. medical office building with a large addition
    • 27+ parking spaces
    • Functional layout with 5 private offices, 7 exam rooms, Echo room, and Nuclear Stress room
    • Second level features a workspace with 3+ rooms and a kitchen, plus a 2 BD/2 BA area
    • Large attic partially finished, suitable for building another floor
    • Two dedicated reception areas and a large waiting room

    Overview

    This 4,690 square foot medical office building offers an opportunity for healthcare practices. The property features a layout with room for patients, staff, and future growth. The main level includes a large waiting room with two reception areas, five private offices, seven exam rooms, an Echo room, and a Nuclear Stress room designed for specialized care. A bonus room can serve as a master office or a small conference room. There are three bathrooms, a pantry for staff, a conference room, and a utility room. The wide hallway ensures smooth traffic flow. The large attic is partially finished and suitable for building another floor. The second level features a split-level area. One area serves as a workspace with three or more rooms suitable for offices, along with a kitchen. The second area has two bedrooms and two bathrooms. The property offers a flexible floor plan for multi-purposes. The parking lot has more than 27 spaces. The lot size is 0.54 acres. The property is located in Clarks Summit, Lackawanna County, Pennsylvania and is zoned C2.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $669.7K
    NOI $60,270 @ 9.00% cap · cautious / downside scenario
    Moderate
    $861.0K
    NOI $60,270 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.21M
    NOI $60,270 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $94.0k $20.04
    − Vacancy −$13.6k −$2.91
    EGI $80.4k $17.13
    − OpEx −$20.1k −$4.28
    NOI $60.3k $12.85
    4,690 SF · lease $20.04/SF/yr · vacancy 14.50% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $861.0K
    $753.4K – $1.00M (±1% cap)
    NOI $60,270 @ 7.0% cap · market cap 5.02%
    Second Best
    Healthcare Medical
    $790.1K
    $691.3K – $921.8K (±1% cap)
    NOI $55,307 @ 7.0% cap · market cap 4.61%
    Theoretical Best
    Office A
    $1.19M
    $1.04M – $1.39M (±1% cap)
    NOI $83,329 @ 7.0% cap · market cap 6.94%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Glenburn Veterinarians, P.C. — 12 Glenn Ave, Clarks Summit, PA 18411
    • Dr. H. L. Nelson, Jr., V.M.D. — 12 Glenn Ave, Clarks Summit, PA 18411

    Location Insight

    • Map
    • Local Demand
    City
    Clarks Summit
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.7083258
    Latitude
    41.4987127

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    FAQs

    What type of property is this?
    Medical Office Space - Spacious medical office building with flexible floor plan.
    Where is this medical office space 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: Spacious 4,690 sq. ft. medical office building with a large addition; 27+ parking spaces; Functional layout with **5 private offices, 7 exam rooms, Echo room, and Nuclear Stress room**
    (570) 877-2778
    We can help!
    Listing Contact
    Manju Verma
    Real Estate License ID: RS375147
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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