Three-Building Multifamily
For Sale
$699,000
721 N Vine St, Hazleton, PA 18201
Includes apartments, a two-bedroom house, and a garage with additional interior space.
Property Size2,892 SF
Price / SF$241.70
Days on Market201
Property Features for 721 N Vine St
General Information
Standard status
Active
Size
2,892 SF
Property subtype
Multi-Family
Building Details
Buildings
3
Listing Agency:
Lewith & Freeman, Drums
(570) 956-3370
Listed By:
Anita Reber
Source:
Nepahousehunt
Added: Feb 11
Changed: Aug 31
Last Checked: Aug 30 at 6:13PM
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 Lewith & Freeman, Drums
Investment Insights
Based on property information with market context.
This multifamily property at 721 N Vine St comprises three separate buildings. The front structure contains four apartments along with a first-floor storeroom. A separate middle building provides a two-bedroom house, while the rear structure includes a three-stall garage and interior space that previously accommodated a gun shop.
Four units are currently rented. Heating systems vary by building: the front structure uses five-zone gas heat, and the middle house and rear garage are heated electrically. The rear building’s additional space may be configured as an efficiency apartment, subject to applicable requirements.
Four units are currently rented. Heating systems vary by building: the front structure uses five-zone gas heat, and the middle house and rear garage are heated electrically. The rear building’s additional space may be configured as an efficiency apartment, subject to applicable requirements.
Key Highlights
- Three separate buildings at 721 N Vine St, Hazleton, PA 18201
- Front building includes 4 apartments and a first‑floor storeroom
- Middle building contains a 2 bedroom house
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
$21,646
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
3.10%
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%
$432,920
$432.9K
Cap Rate 7%
$309,229
$309.2K
Cap Rate 9%
$240,511
$240.5K
Market Conditions
NOI Build-Up for 2,892 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
$42.7K $14.76/SF
− Vacancy
−$3.3K −$1.15/SF
EGI
$39.4K $13.61/SF
− OpEx
−$17.7K −$6.12/SF
NOI
$21.6K $7.48/SF
Area
Luzerne County, PA
Vacancy
7.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$432,920
Cap Rate 7%
$309,229
Cap Rate 9%
$240,511
Alternative Uses
Best Use
Apartment 5plus
$309.2K
$270.6K – $360.8K
NOI $21,646 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$916.2K
$801.7K – $1.07M
NOI $64,133 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Explore this area
Business Placement
Demographics for 18201, PA
31,310
Population
13,318
Households
2.4
Avg Household Size
37
Median Age
11%
College-Educated
76%
High-School Grad
17.5 sq mi
ZIP Area
1,789
Density / Sq Mi
$43,983
Median Household Income
$30,463
Median Earnings
$1,019
Median Rent
$131,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Includes apartments, a two-bedroom house, and a garage with additional interior space.
Where is this multifamily property located?
The property is located at 721 N Vine St Hazleton, PA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three separate buildings at 721 N Vine St, Hazleton, PA 18201; Front building includes 4 apartments and a first‑floor storeroom; Middle building contains a 2 bedroom house
