Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    555 Research Drive Pittston, PA 18640

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    170,500 SF industrial building for lease in Pittston, PA.

    Type:Industrial
    Property size:
    170,500 SF
    Added:
    Dec 29, 2023
    Days on Market:
    836
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for 555 Research Drive

    General Information

    Standard status
    Active
    Size
    170,500 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    2024

    We can help!

    Listing Contact
    Bob Besecker
    Bob Besecker

    Listing agent Bob Besecker License #PA RM051447A

    Listing office Mericle Commercial Real Estate Services

    Listing date Dec 29, 2023

    Source Crexi

    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 Mericle Commercial Real Estate Services

    Overview

    Industrial Building in CenterPoint Park

    An industrial building encompassing 170,500 square feet is currently under construction within CenterPoint Commerce & Trade Park East, situated in Pittston Township, Luzerne County, Pennsylvania. The location offers convenient access to I-81, I-476, the airport, FedEx, and UPS facilities. The building can be subdivided to offer spaces of 85,250 square feet. The property is located within a LERTA zone, providing a 100% abatement on real estate taxes for improvements.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Department Store Grocery & Convenience Store Cafe & Coffee Shop (Bike/Boat/Book/etc) Store Clothing & Fashion Store Parking Lot & Garage

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pittston
    County
    Luzerne
    State
    Pennsylvania
    Longitude
    -75.7426
    Latitude
    41.288895

    Nearby Similar for Lease

    • Contact for pricing

      Pittston Commercial Storage Space

      Dry storage space with offices in historic downtown building.
      2 S Main Street, Pittston, PA 18640
      View Details
    • Contact for pricing

      Office Space in Pittston Township

      Bright office space available immediately off Route 315.
      400 Route 315 unit: F, Pittston, PA 18640
      View Details
    • $1.00/mo

      Downtown Pittston Commercial Space Available

      Versatile commercial space in downtown Pittston, suitable for various businesses.
      32 N Main Street, Pittston, PA 18640
      View Details
    • Contact for pricing

      Historic Landmark Building in Pittston

      Iconic, modernized commercial space in downtown Pittston available for lease.
      2 S Main Street, Pittston, PA 18640
      View Details
    • Contact for pricing

      Pittston Commercial Space For Rent

      Commercial space with street visibility and easy access to foot traffic.
      200 N Main, Pittston, PA 18640
      View Details
    • Contact for pricing

      Food Grade Distribution Facility

      249,750 SF food grade facility for sublease in Pittston.
      175 Patriot Drive, Pittston, PA, 18640
      View Details
    • Contact for pricing

      Pittston Warehouse with Large Lot

      17,400 SF warehouse with drive-in doors and high ceilings.
      703 South Township Boulevard, Pittston, PA, 18640
      View Details
    • Contact for pricing

      Downtown Pittston Retail/Office Space

      Versatile space in revitalizing downtown Pittston, suitable for various businesses.
      32 N Main St, Pittston, PA 18640
      View Details
    • Contact for pricing

      Pittston Distribution Warehouse for Lease

      144,000 SF distribution warehouse with cross-dock configuration available for lease.
      125 Capital Rd, Pittston, PA
      View Details
    • Contact for pricing

      Retail Space in Pittston

      Retail property available for lease in Pittston, Pennsylvania.
      Laurel St, Pittston, PA
      View Details
    • Contact for pricing

      Beverage Manufacturing Facility with Expansion

      403,000 SF manufacturing facility on 58.45 acres for rent.
      Armstrong Rd, Pittston, PA
      View Details
    • Contact for pricing

      New Industrial Flex Space Available

      67,821 SF industrial/flex space for lease in Pittston, PA.
      147 Commonwealth Dr, Pittston, PA
      View Details

    FAQs

    What type of property is this?
    Warehouse - 170,500 SF industrial building for lease in Pittston, PA.
    Where is this warehouse located?
    The property is located at 555 Research Drive Pittston, PA.
    What are key features of this property?
    This property features: LERTA zone: **100% real estate tax abatement on improvements.**; **170,500 SF industrial building (divisible to 85,250 SF) under construction.**; Excellent location near I‑81, I‑476, Airport, FedEx, and UPS.
    (570) 823-1100 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bob Besecker
    Bob Besecker
    Real Estate License ID: PA RM051447A
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!