Building Details

Buildings 2

Listing Agency: Jonathan J. Nelson Real Estate

Listed By: Brandy Spencer · License #RS376502 Show Phone

Source: Nepahousehunt

Added: Mar 26 Changed: Oct 1 Last Checked: Oct 12 at 8:39PM

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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.

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 / Yr

$44,977

Cap Rate

9.09%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $44,977 @ 7.0% cap · market cap 9.09%

Second Best

Mixed Use

$506.3K

$443.0K – $590.6K (±1% cap)

NOI $35,438 @ 7.0% cap · market cap 7.16%

Theoretical Best

Office A

$888.4K

$777.3K – $1.04M (±1% cap)

NOI $62,186 @ 7.0% cap · market cap 12.56%

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

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Dental Office (Bike/Boat/Book/etc) Store Computer & Electronic Repair Cafe & Coffee Shop Skin Care Clinic

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

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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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