Building Details

Building Size 2,224 SF

Listing Agency: Lewith & Freeman, Shavertown

Listed By: Tracy Zarola Show Phone

Source: Luxehomesnepa

Added: Oct 17 Changed: Oct 19 Last Checked: Oct 19 at 2:02PM

Report an Issue

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 Lewith & Freeman, Shavertown

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

At 408 Luzerne Avenue in West Pittston, this mixed-use property includes a salon and two apartments. Each apartment has two bedrooms and one bathroom, and both units are vacant. Utilities are separated, and the property has a private driveway.

Key Highlights

• Two apartments, each with two bedrooms and one bathroom
• Both apartments are vacant
• One‑room salon

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,018

Cap Rate

8.50%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$440,360 $440.4K

Cap Rate 7%

$314,543 $314.5K

Cap Rate 9%

$244,644 $244.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,224 SF

Gross rent

$40.0K $18.00/SF

− Vacancy

−$4.8K −$2.16/SF

EGI

$35.2K $15.84/SF

− OpEx

−$13.2K −$5.94/SF

NOI

$22.0K $9.90/SF

Area

Luzerne County, PA

Vacancy

12.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$440,360

Cap Rate 7%

$314,543

Cap Rate 9%

$244,644

Alternative Uses

Best Use

Mixed Use

$314.5K

$275.2K – $367.0K (±1% cap)

NOI $22,018 @ 7.0% cap · market cap 8.50%

Second Best

Multifamily LT 5

$256.4K

$224.4K – $299.1K (±1% cap)

NOI $17,948 @ 7.0% cap · market cap 6.93%

Theoretical Best

Office A

$704.6K

$616.5K – $822.0K (±1% cap)

NOI $49,319 @ 7.0% cap · market cap 19.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Kitchen & Bath Showroom Cafe & Coffee Shop Bakery Storage Facility (Bike/Boat/Book/etc) 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

558

Businesses Nearby

Explore this area Business Placement

Demographics for 18643, PA

12,165

Population

6,321

Households

1.9

Avg Household Size

46

Median Age

25%

College-Educated

95%

High-School Grad

18.3 sq mi

ZIP Area

665

Density / Sq Mi

$61,685

Median Household Income

$43,129

Median Earnings

$956

Median Rent

$156,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - The building combines a single-room salon with two vacant apartments, each configured with two bedrooms and one bathroom.

Where is this mixed-use property located?

The property is located at 408 Luzerne Avenue West Pittston, PA.

What is the asking price?

The asking price for this property is $259,000.

What are key features of this property?

This property features: Two apartments, each with two bedrooms and one bathroom; Both apartments are vacant; One‑room salon