Mixed-Use Property with Event
For Sale
$849,900
5451 State Route 654, South Williamsport, PA 17702
A separate residence, shop, and storage buildings complement the venue’s indoor and outdoor gathering areas.
Property Size3,258 SF
Price / SF$260.87
Days on Market9
Property Features for 5451 State Route 654
General Information
Standard status
Active
Size
3,258 SF
Taxes and HOA fees
Annual Taxes
$9,836
Listing Agency:
Exp Realty LLC
(888) 397-7352
Listed By:
Cassandra Baier-Pyszczynski
(570) 220-2773
Source:
Exprealty
Added: Sep 24
Changed: Oct 1
Last Checked: Oct 1 at 2:15PM
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 Exp Realty LLC
Investment Insights
Based on property information with market context.
The property combines a 6,000+ sq. ft. event venue with a separate four-bedroom, two-bath residence. The venue includes large gathering areas, a bar, commercial kitchen, vaulted wood ceilings, covered and open-air patios, and a stone fireplace. A full lower level provides storage, loading, and operational space. The residence has multiple living areas, a full basement, four built-in garage bays, a private backyard, and a deck.
Additional improvements include a separate shop with three-phase electric, a 1,600+ sq. ft. storage building, and a utility shed. The property sits on Bastress Mountain at the crest of Nippenose Valley, approximately 15 minutes from Williamsport.
Additional improvements include a separate shop with three-phase electric, a 1,600+ sq. ft. storage building, and a utility shed. The property sits on Bastress Mountain at the crest of Nippenose Valley, approximately 15 minutes from Williamsport.
Key Highlights
- 6,000+ sq. ft. event venue with bar and commercial kitchen
- Covered and open‑air patios, vaulted wood ceilings, and a stone fireplace
- Separate 4‑bedroom, 2‑bath residence with full basement and 4 built‑in garage bays
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
$32,987
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
3.88%
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%
$659,740
$659.7K
Cap Rate 7%
$471,243
$471.2K
Cap Rate 9%
$366,522
$366.5K
Market Conditions
NOI Build-Up for 3,258 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
$58.6K $18.00/SF
− Vacancy
−$5.9K −$1.80/SF
EGI
$52.8K $16.20/SF
− OpEx
−$19.8K −$6.07/SF
NOI
$33.0K $10.13/SF
Area
Lycoming County, PA
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$659,740
Cap Rate 7%
$471,243
Cap Rate 9%
$366,522
Alternative Uses
Best Use
Mixed Use
$471.2K
$412.3K – $549.8K
NOI $32,987 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$702.1K
$614.4K – $819.1K
NOI $49,148 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 17702, PA
10,378
Population
4,533
Households
2.3
Avg Household Size
42
Median Age
23%
College-Educated
94%
High-School Grad
61.2 sq mi
ZIP Area
170
Density / Sq Mi
$70,514
Median Household Income
$41,228
Median Earnings
$935
Median Rent
$193,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A separate residence, shop, and storage buildings complement the venue’s indoor and outdoor gathering areas.
Where is this mixed-use property located?
The property is located at 5451 State Route 654 South Williamsport, PA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 6,000+ sq. ft. event venue with bar and commercial kitchen; Covered and open‑air patios, vaulted wood ceilings, and a stone fireplace; Separate 4‑bedroom, 2‑bath residence with full basement and 4 built‑in garage bays
