Versatile Building on Fenced
For Sale
$1,400,000
777 S Franklin St, Wilkes Barre, PA 18702
22,000 sq ft building with 9 garage bays.
Property Size22,000 SF
Lot Size2.00 Acres
Price / SF$63.64
Days on Market149
Property Features for 777 S Franklin St
General Information
Standard status
Active
Size
22,000 SF
Lot size
2.00 Acres
Building Details
Year Built
1950
Listing Agency:
RE/MAX Preferred - Cherry Hill
Listed By:
Alexander Schwartz · License #2298248
(570) 351-5242
Source:
Kandorre
Added: May 19
Changed: Oct 11
Last Checked: Oct 7 at 4:08PM
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 RE/MAX Preferred - Cherry Hill
Investment Insights
Based on property information with market context.
This versatile 22,000 sq ft building is situated on a 2-acre fully fenced lot in Wilkes Barre. The structure includes 9 garage bays, one of which features a 24 ft high ceiling. It is equipped with 400 Amp and 3-phase electric power. The property also features 4 hydraulic working lifts, making it suitable for an automotive business. There are 2 offices within the building. The property's versatility makes it suitable for a variety of businesses.
Key Highlights
- 22,000 sq ft building on a 2‑acre fully fenced lot.
- Benefit from 9 garage bays, including one 24 ft high bay.
- Includes 4 hydraulic working lifts.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$121,414
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,428,280
$2.4M
Cap Rate 7%
$1,734,486
$1.7M
Cap Rate 9%
$1,349,044
$1.3M
Market Conditions
NOI Build-Up for 22,000 SF
Gross rent
$192.7K $8.76/SF
− Vacancy
−$19.3K −$0.88/SF
EGI
$173.4K $7.88/SF
− OpEx
−$52.0K −$2.37/SF
NOI
$121.4K $5.52/SF
Area
Luzerne County, PA
Vacancy
10.00%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,428,280
Cap Rate 7%
$1,734,486
Cap Rate 9%
$1,349,044
Alternative Uses
Best Use
Retail
$2.61M
$2.29M – $3.05M
NOI $182,952 @ 7.0% cap · market cap 13.07%
Second Best
Industrial
$1.73M
$1.52M – $2.02M
NOI $121,414 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$6.97M
$6.10M – $8.13M
NOI $487,872 @ 7.0% cap · market cap 34.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
7k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Dining 19%
AutoZone
Shops & Services
5,877 visits/mo
0.4 miles
Krispy Krunchy Chicken
Dining
1,362 visits/mo
0.2 miles
Demographics for 18702, PA
42,133
Population
19,738
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
87%
High-School Grad
78.1 sq mi
ZIP Area
539
Density / Sq Mi
$54,892
Median Household Income
$36,911
Median Earnings
$971
Median Rent
$115,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Automotive property - 22,000 sq ft building with 9 garage bays.
Where is this automotive property located?
The property is located at 777 S Franklin St Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 22,000 sq ft building on a 2‑acre fully fenced lot.; Benefit from 9 garage bays, including one **24 ft high bay**.; Includes **4 hydraulic working lifts**.
