Five-Unit Mixed-Use Property with
696 Pennsylvania 590, Lackawaxen, PA 18435
New
MULTI_FAMILY - Lackawaxen, PA
Property size:
2,977 SFLot size:
0.38 AcresPrice / SF:
$167/SF- Added:
- Jun 25, 2026
- Days on Market:
- 3
- Last Refresh:
- Jun 26 at 11:06 pm
Property Features for 696 Pennsylvania 590
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 5
- Rooms
- Bedroom 5, Bathroom 3, Bedroom 3, Bathroom 4, Basement, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 5, Bathroom 1
- Parking features
- Driveway, Parking Lot
- Window features
- ENERGY STAR Qualified WIndows, Double Pane Windows
- Patio and Porch features
- Porch
- Interior features
- Beamed Ceilings, Walk-In Closet(s), Storage, Open Floorplan, On Site Septic, High Speed Internet, Built-in Features, Bookcases
- Exterior features
- Lighting, Storage, Rain Gutters, Private Entrance
- Fireplace
- 1
- Basement
- Walk-Out Access, Full, Dirt Floor, Storage Space
- Appliances
- Electric Range, Water Heater, Refrigerator, Gas Range
- Standard status
- Active
- APN
- 019.04-01-52 024576
- Size
- 2,977 SF
- Lot size
- 0.38 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 3763
Utilities
- Utilities
- Cable Available
- Sewer type
- Engineered Septic
- Heating system
- Propane (Heating), Forced Air, Baseboard
- Cooling system
- Window Unit(s), Wall Unit(s)
- Water source
- Well
Building Details
- Year built
- 1950
- Floors in Building
- 2
- Number of units
- 5
- Flooring type
- Hardwood
- Building materials
- Frame, Wood Siding
- Roof type
- Shingle, Asphalt
- Additional Structures
- Storage
Listing agent Amanda Brehm License #10401307868 (845) 741-5608
Listing office Keller Williams Realty Hudson Valley United 9 Bert Crawford Road, Middletown, PA (845) 610-6065
Listing date Jun 25, 2026
MLS# PW-262066
Listing URL
Copyright © 2026 Pike/Wayne Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Five‑unit mixed‑use property with 1 commercial storefront and 4 residential apartments; currently earns income from 4 occupied residential units.
- Approximately 1,225 SF commercial storefront is vacant and can support owner occupancy or additional rental income; building has a half bath and private‑entrance adjoining room.
- Commercial space features oak hardwood floors, exposed wood beams, oversized bay display windows, and an impressive stone wood‑burning fireplace.
- First‑floor private 2‑bedroom apartment includes its own entrance, kitchen, living room, full bath, and hardwood flooring throughout.
- Income performance noted as ~3.74% cap rate based on current income; pro forma projected ~6.98% cap rate if the storefront is leased at projected market rent.
- Served by well water and engineered septic; utilities include cable available; heating includes forced air with propane and baseboard; cooling via window/wall units.
Overview
This five-unit mixed-use property includes one commercial storefront and four residential apartments. The total property size is 2,977 square feet on a 0.38-acre lot. Currently, the four residential units are occupied and generating income, while the approximately 1,225-square-foot storefront is vacant, providing an opportunity for owner occupancy or leasing.
The first-floor commercial space features oak hardwood floors, exposed wood beams, an impressive stone wood-burning fireplace, and oversized bay display windows for natural light. A half bath serves the storefront, and an adjoining room with its own private entrance can be incorporated into the main space or used separately for office, retail, or storage. Also on the first floor is a private two-bedroom apartment with its own entrance, a kitchen, living room, full bath, and hardwood flooring throughout.
The property is located at 696 Pennsylvania 590 in Lackawaxen, positioned along PA-590. Public remarks note it is minutes from the historic Roebling Bridge, the Delaware River, and nearby outdoor recreation. Based on current income from the four occupied residential units, it operates at an approximate 3.74% cap rate; the remarks also indicate a projected approximately 6.98% pro forma cap rate if the vacant storefront is leased. The residential tenants are currently on month-to-month leases with rents described as below market value.
The first-floor commercial space features oak hardwood floors, exposed wood beams, an impressive stone wood-burning fireplace, and oversized bay display windows for natural light. A half bath serves the storefront, and an adjoining room with its own private entrance can be incorporated into the main space or used separately for office, retail, or storage. Also on the first floor is a private two-bedroom apartment with its own entrance, a kitchen, living room, full bath, and hardwood flooring throughout.
The property is located at 696 Pennsylvania 590 in Lackawaxen, positioned along PA-590. Public remarks note it is minutes from the historic Roebling Bridge, the Delaware River, and nearby outdoor recreation. Based on current income from the four occupied residential units, it operates at an approximate 3.74% cap rate; the remarks also indicate a projected approximately 6.98% pro forma cap rate if the vacant storefront is leased. The residential tenants are currently on month-to-month leases with rents described as below market value.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.6k | $18.00 |
| − Vacancy | −$5.4k | −$1.80 |
| EGI | $48.2k | $16.20 |
| − OpEx | −$18.1k | −$6.07 |
| NOI | $30.1k | $10.13 |
2,977 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$430.6K
$376.8K – $502.4K
NOI $30,142 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$419.5K
$367.1K – $489.4K
NOI $29,366 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$726.5K
$635.7K – $847.6K
NOI $50,854 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Map
- City
- Lackawaxen
- County
- Pike
- State
- Pennsylvania
- Longitude
- -74.985121
- Latitude
- 41.478325
FAQs
What type of property is this?
Mixed-use property - Includes a vacant commercial storefront and four residential units, creating flexible income and owner-occupy options.
Where is this mixed-use property located?
The property is located at 696 Pennsylvania 590 Lackawaxen, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Five‑unit mixed‑use property with 1 commercial storefront and 4 residential apartments; currently earns income from 4 occupied residential units.; Approximately 1,225 SF commercial storefront is vacant and can support owner occupancy or additional rental income; building has a half bath and private‑entrance adjoining room.; Commercial space features oak hardwood floors, exposed wood beams, oversized bay display windows, and an impressive stone wood‑burning fireplace.
