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Listing Agency: Keller Williams Realty Hudson Valley United n***@gmail.com Show Phone

Listed By: Amanda Brehm · License #00000 Show Phone

Source: Exprealty

Added: Jun 25 Changed: Oct 15 Last Checked: Oct 15 at 12:53AM

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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 Keller Williams Realty Hudson Valley United

Investment Insights

Based on property information with market context.

This five-unit mixed-use property combines one commercial storefront with four residential apartments. The approximately 1,225-square-foot storefront is vacant and includes oak hardwood floors, exposed wood beams, a stone wood-burning fireplace, oversized bay display windows, a half bath, and an adjoining room with a private entrance. The additional room can connect to the storefront or function separately as office, retail, or storage space. A first-floor two-bedroom apartment has its own entrance, kitchen, living room, full bath, and hardwood flooring.

The property is located at 696 Route 590 in Lackawaxen, along PA-590 and near the Roebling Bridge and Delaware River. Four residential units are occupied, while the commercial space is available for an owner-user or tenant. Current operations reflect an approximate 3.74% cap rate; leasing the storefront at projected market rent is estimated to produce an approximate 6.98% pro forma cap rate. Residential leases are month-to-month with rents below market value.

Key Highlights

• Five‑unit configuration with one commercial storefront and four residential apartments
• Approximately 1,225 square feet of vacant first‑floor commercial space
• Storefront features oak floors, exposed beams, bay display windows, and a stone wood‑burning fireplace

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,142

Cap Rate

7.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$602,840 $602.8K

Cap Rate 7%

$430,600 $430.6K

Cap Rate 9%

$334,911 $334.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,977 SF

Gross rent

$53.6K $18.00/SF

− Vacancy

−$5.4K −$1.80/SF

EGI

$48.2K $16.20/SF

− OpEx

−$18.1K −$6.07/SF

NOI

$30.1K $10.13/SF

Area

Pike 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 Rate 5%

$602,840

Cap Rate 7%

$430,600

Cap Rate 9%

$334,911

Alternative Uses

Best Use

Mixed Use

$430.6K

$376.8K – $502.4K (±1% cap)

NOI $30,142 @ 7.0% cap · market cap 7.54%

Second Best

Apartment 5plus

$419.5K

$367.1K – $489.4K (±1% cap)

NOI $29,366 @ 7.0% cap · market cap 7.34%

Theoretical Best

Office A

$726.5K

$635.7K – $847.6K (±1% cap)

NOI $50,854 @ 7.0% cap · market cap 12.71%

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

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Auto Repair Shop Garden Center (Bike/Boat/Book/etc) Store Building Supply Restaurant Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

18

Businesses Nearby

Explore this area Business Placement

Demographics for 18435, PA

1,055

Population

1,569

Households

0.7

Avg Household Size

53

Median Age

51%

College-Educated

94%

High-School Grad

12.5 sq mi

ZIP Area

84

Density / Sq Mi

$97,924

Median Household Income

$46,552

Median Earnings

$317,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Includes a vacant storefront alongside four occupied apartments, with a flexible first-floor layout and separate residential entrance.

Where is this mixed-use property located?

The property is located at 696 Route 590 Lackawaxen, PA.

What is the asking price?

The asking price for this property is $400,000.

What are key features of this property?

This property features: Five‑unit configuration with one commercial storefront and four residential apartments; Approximately 1,225 square feet of vacant first‑floor commercial space; Storefront features oak floors, exposed beams, bay display windows, and a stone wood‑burning fireplace