34-Unit Multifamily Apartment
For Sale
Contact for pricing
522 Spring St, Hawley, PA 18428
Two residential components span Spring Street, Bellemonte Avenue, and School Avenue in Hawley.
Property Size36,223 SF
Price / SF$165.64
Days on Market158
Property Features for 522 Spring St
General Information
Standard status
Active
Size
36,223 SF
Class
A
Property subtype
Multifamily
Occupancy
91%
Net Operating Income
$444,402
Additional Details
Multifamily Units
34
Building Details
Year Built
1940
Buildings
7
Stories
3
Units
34
Listing Agency:
Davis R. Chant Realtors
Listed By:
Will Clauss · License #RO010383A
Source:
Crexi
Added: Apr 1
Changed: Aug 30
Last Checked: Sep 1 at 5:40PM
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 Davis R. Chant Realtors
Investment Insights
Based on property information with market context.
This multifamily offering combines 34 residential units across two components: Eagle Village Apartments at 516, 520, and 522 Spring St, and The Heights at Bellemonte / School Avenue at 141-147 Bellemonte Avenue and 155 School Avenue. The portfolio contains 36,223 square feet and dates to 1940.
Current occupancy is 91.2%, with 31 of 34 units occupied. Three vacant two-bedroom apartments provide identified lease-up capacity within the existing unit mix. The properties are located in Hawley, Pennsylvania, a community identified in the source information as part of Wayne County and the Pocono Mountains region.
Current occupancy is 91.2%, with 31 of 34 units occupied. Three vacant two-bedroom apartments provide identified lease-up capacity within the existing unit mix. The properties are located in Hawley, Pennsylvania, a community identified in the source information as part of Wayne County and the Pocono Mountains region.
Key Highlights
- 34‑unit multifamily portfolio across two residential components
- 91.2% occupied, with 31 of 34 units leased
- Three vacant two‑bedroom units
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
$341,287
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
5.69%
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%
$6,825,740
$6.8M
Cap Rate 7%
$4,875,529
$4.9M
Cap Rate 9%
$3,792,078
$3.8M
Market Conditions
NOI Build-Up for 36,223 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
$673.7K $18.60/SF
− Vacancy
−$53.2K −$1.47/SF
EGI
$620.5K $17.13/SF
− OpEx
−$279.2K −$7.71/SF
NOI
$341.3K $9.42/SF
Area
Wayne County, PA
Vacancy
7.90%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
45.00%
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%
$6,825,740
Cap Rate 7%
$4,875,529
Cap Rate 9%
$3,792,078
Alternative Uses
Best Use
Apartment 5plus
$4.88M
$4.27M – $5.69M
NOI $341,287 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.83M
$7.73M – $10.30M
NOI $618,283 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
34
Residential units
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 18428, PA
12,314
Population
9,606
Households
1.3
Avg Household Size
52
Median Age
30%
College-Educated
95%
High-School Grad
151.1 sq mi
ZIP Area
81
Density / Sq Mi
$75,463
Median Household Income
$37,573
Median Earnings
$1,195
Median Rent
$263,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two residential components span Spring Street, Bellemonte Avenue, and School Avenue in Hawley.
Where is this apartment building located?
The property is located at 522 Spring St Hawley, PA.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: 34‑unit multifamily portfolio across two residential components; 91.2% occupied, with 31 of 34 units leased; Three vacant two‑bedroom units
