Medical Office Building with Vacant
For Sale
$1,250,000
817 - 821 S Main Street, Old Forge, PA 18518
COMMERCIAL - Old Forge, PA
Property Size10,800 SF
Lot Size0.60 Acres
Price / SF$115.74
Days on Market93
Property Features for 817 - 821 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1 Main St Com
Zoning description
Commercial
Parking
28
Lot features
Near General Business
Elementary school district
Old Forge
Middle school district
Old Forge
High school district
Old Forge
Directions
This property sits at the intersection of S Main St and Taroli St.
Standard status
Active
APN
18407020019
Size
10,800 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
59X144x67x130 W-05 B-0060 L-0010 P-00000
Tax Annual Amount
17856
Legal Description
59X144x67x130 W-05 B-0060 L-0010 P-00000
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air, Gas (Cooling)
Building Details
Year built
2006
Floors in Building
1
Number of units
6
Flooring type
Carpet, Vinyl
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
Christian Saunders Real Estate
(800) 372-4222
Listed By:
Marilee Barone · License #AB067373
(570) 430-0141
Added: May 29
Changed: Aug 4
Last Checked: Aug 29 at 10:06AM
MLS# SC262501
Copyright © 2026 Greater Scranton Board 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.
Investment Insights
Based on property information with market context.
A well-maintained multi-tenant medical office property with two buildings on a 0.6-acre lot. Building #1 includes a 7,200 SF single-story medical office setup occupied by a pharmacy and two medical practices, with Suite 3 available for occupancy. Building #2 is a 3,600 SF mixed-use building with a retail/optometrist office in the front and a one-bedroom apartment in the rear, supporting additional rental income. The current owner pays real estate taxes.
The property is zoned C-1 Main St Com. Constructed in 2006 with vinyl siding and an asphalt roof, it is served by public sewer. Heating is provided by natural gas forced air, with central air and gas cooling.
For buyers seeking an owner-user option, the available Suite 3 in Building #1 is positioned as a relocation opportunity for an existing optometrist tenant, while retail space in Building #2 can be occupied and remaining tenant income continues.
The property is zoned C-1 Main St Com. Constructed in 2006 with vinyl siding and an asphalt roof, it is served by public sewer. Heating is provided by natural gas forced air, with central air and gas cooling.
For buyers seeking an owner-user option, the available Suite 3 in Building #1 is positioned as a relocation opportunity for an existing optometrist tenant, while retail space in Building #2 can be occupied and remaining tenant income continues.
Key Highlights
- Suite 3 in Building #1 is available for occupancy; pharmacy and two medical practices currently occupied
- Two buildings totaling 10,800 SF: 7,200 SF single‑story medical office plus 3,600 SF mixed‑use building
- Building #2 includes front retail/optometrist office space and a one‑bedroom apartment in the rear
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
$101,493
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
8.12%
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%
$2,029,860
$2.0M
Cap Rate 7%
$1,449,900
$1.4M
Cap Rate 9%
$1,127,700
$1.1M
Market Conditions
NOI Build-Up for 10,800 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
$162.0K $15.00/SF
− Vacancy
−$17.0K −$1.58/SF
EGI
$145.0K $13.43/SF
− OpEx
−$43.5K −$4.03/SF
NOI
$101.5K $9.40/SF
Area
Lackawanna County, PA
Vacancy
10.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,029,860
Cap Rate 7%
$1,449,900
Cap Rate 9%
$1,127,700
Alternative Uses
Best Use
Office B
$1.98M
$1.73M – $2.31M
NOI $138,787 @ 7.0% cap · market cap 11.10%
Second Best
Healthcare Medical
$1.82M
$1.59M – $2.12M
NOI $127,359 @ 7.0% cap · market cap 10.19%
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $191,887 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
489
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18518, PA
8,497
Population
3,949
Households
2.2
Avg Household Size
46
Median Age
32%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,124
Density / Sq Mi
$73,258
Median Household Income
$44,586
Median Earnings
$862
Median Rent
$169,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - C-1 Main St Com medical office property with a currently vacant suite and mixed retail, office, and apartment setup.
Where is this medical office space located?
The property is located at 817 - 821 S Main Street Old Forge, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Suite 3 in Building #1 is available for occupancy; pharmacy and two medical practices currently occupied; Two buildings totaling 10,800 SF: 7,200 SF single‑story medical office plus 3,600 SF mixed‑use building; Building #2 includes front retail/optometrist office space and a one‑bedroom apartment in the rear
