Mixed-Use Property with Private
For Sale
$495,000
409 N Main St, Old Forge, PA 18518
Existing improvements combine enclosed rooms with larger gathering areas and an adjoining residential structure.
Property Size3,500 SF
Price / SF$141.43
Days on Market198
Property Features for 409 N Main St
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Commercial
Building Details
Buildings
2
Listing Agency:
Jonathan J. Nelson Real Estate
(913) 206-2008
Listed By:
Brandy Spencer · License #RS376502
Source:
Nepahousehunt
Added: Feb 12
Changed: Aug 28
Last Checked: Aug 28 at 12:19PM
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 Jonathan J. Nelson Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property includes an existing building with multiple enclosed rooms and larger gathering areas, providing a configuration that can be reworked for several commercial purposes. The structure has been identified as suitable for potential professional office, medical or wellness, educational, and boutique event applications. The reported property size is 3,500.
An adjoining residential structure is also part of the property. The site can be considered for renovation, interior reconfiguration, or redevelopment, including a new commercial or mixed-use improvement. The property is located at 409 N Main St in Old Forge, Pennsylvania.
An adjoining residential structure is also part of the property. The site can be considered for renovation, interior reconfiguration, or redevelopment, including a new commercial or mixed-use improvement. The property is located at 409 N Main St in Old Forge, Pennsylvania.
Key Highlights
- 3,500 reported property size
- Existing building with multiple private rooms
- Larger gathering areas within the current structure
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
$44,977
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
9.09%
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%
$899,540
$899.5K
Cap Rate 7%
$642,529
$642.5K
Cap Rate 9%
$499,744
$499.7K
Market Conditions
NOI Build-Up for 3,500 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
$70.1K $20.04/SF
− Vacancy
−$10.2K −$2.91/SF
EGI
$60.0K $17.13/SF
− OpEx
−$15.0K −$4.28/SF
NOI
$45.0K $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%
$899,540
Cap Rate 7%
$642,529
Cap Rate 9%
$499,744
Alternative Uses
Best Use
Office B
$642.5K
$562.2K – $749.6K
NOI $44,977 @ 7.0% cap · market cap 9.09%
Second Best
Mixed Use
$506.3K
$443.0K – $590.6K
NOI $35,438 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$888.4K
$777.3K – $1.04M
NOI $62,186 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Explore this area
Business Placement
Demographics for 18518, PA
8,497
Population
3,949
Households
2.2
Avg Household Size
46
Median Age
32%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,124
Density / Sq Mi
$73,258
Median Household Income
$44,586
Median Earnings
$862
Median Rent
$169,700
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?
Mixed-use property - Existing improvements combine enclosed rooms with larger gathering areas and an adjoining residential structure.
Where is this mixed-use property located?
The property is located at 409 N Main St Old Forge, PA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 3,500 reported property size; Existing building with multiple private rooms; Larger gathering areas within the current structure
