Building Details

Building Size 3,200 SF

Listing Agency: ERA One Source Realty

Listed By: Lori Spencer Show Phone

Source: Luxehomesnepa

Added: Jul 16 Changed: Aug 23 Last Checked: Sep 7 at 8:43AM

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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 ERA One Source Realty

Investment Insights

Based on property information with market context.

Turnkey restaurant and bar offered for sale, with a family-owned operating history of more than 40 years. The sale includes the liquor license, bar furnishings, tables, and equipment. The concept is currently operating for takeout only, with a bar area that can seat up to 50 people and a dining room with additional seating for up to 35 people. Also included is a 3-bedroom apartment, which can support immediate rental income or be used for owner-occupancy.

The property is located at 700 Luzerne Avenue in West Pittston, Pennsylvania, and has been positioned as a longtime neighborhood destination with a loyal customer base.

Inside, the available seating configuration supports both a primary bar experience and separate dining seating, alongside the included residential unit.

Key Highlights

• Restaurant and bar operating for takeout only, currently open and operating
• Bar area seating for up to 50 people and dining room seating for up to 35 people
• Includes liquor license

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

$34,488

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

6.90%

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%

$689,760 $689.8K

Cap Rate 7%

$492,686 $492.7K

Cap Rate 9%

$383,200 $383.2K

Market Conditions

NOI Build-Up for 3,200 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

$48.0K $15.00/SF

− Vacancy

−$2.0K −$0.63/SF

EGI

$46.0K $14.37/SF

− OpEx

−$11.5K −$3.59/SF

NOI

$34.5K $10.78/SF

Area

Luzerne County, PA

Vacancy

4.20%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

25.00%

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%

$689,760

Cap Rate 7%

$492,686

Cap Rate 9%

$383,200

Alternative Uses

Best Use

Specialty Retail

$492.7K

$431.1K – $574.8K (±1% cap)

NOI $34,488 @ 7.0% cap · market cap 6.90%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.01M

$887.0K – $1.18M (±1% cap)

NOI $70,963 @ 7.0% cap · market cap 14.20%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Bakery Kitchen & Bath Showroom Storage Facility (Bike/Boat/Book/etc) Store Plumbing Service

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

Turnkey business

Opportunity

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

360

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 18643, PA

12,165

Population

6,321

Households

1.9

Avg Household Size

46

Median Age

25%

College-Educated

95%

High-School Grad

18.3 sq mi

ZIP Area

665

Density / Sq Mi

$61,685

Median Household Income

$43,129

Median Earnings

$956

Median Rent

$156,900

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Turnkey restaurant and bar operating for takeout with 50-seat bar and 35-seat dining, plus a 3-bedroom apartment.

Where is this conventional restaurant located?

The property is located at 700 Luzerne Avenue West Pittston, 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: Restaurant and bar operating for takeout only, currently open and operating; Bar area seating for up to 50 people and dining room seating for up to 35 people; Includes liquor license