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    Multi-Tenant Commercial Property in Old Forge Title is generated by Realmo AI

    817 - 821 S Main Street, Old Forge, PA 18518

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    Claim this Listing
    New
    For Sale
    $1,250,000

    COMMERCIAL - Old Forge, PA

    Property size:
    10,800 SF
    Lot size:
    0.60 Acres
    Price / SF:
    $115/SF
    Added:
    May 29, 2026
    Days on Market:
    2
    Last Refresh:
    May 30 at 9:06 pm

    Property Features for 817 - 821 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-1 Main St Com
    Parking
    28
    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

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Gas (Cooling), Central Air

    Building Details

    Year built
    2006
    Floors in Building
    1
    Number of units
    6
    Flooring type
    Vinyl, Carpet
    Building materials
    Vinyl Siding
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Marilee Barone

    Listing agent Marilee Barone License #AB067373

    Listing office Christian Saunders Real Estate 771 E. Drinker Street, Dunmore, PA

    Listing date May 29, 2026

    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.

    HighLights

    • Stable income‑generating commercial property with established tenants including a pharmacy, medical practices, and optometrist, as well as residential units.
    • Immediate value‑add potential with a vacant suite in the medical office building.
    • Mixed‑use property featuring both commercial and residential rental income streams.
    • Owner‑user opportunity to occupy retail space while maintaining rental income.
    • Well‑maintained buildings constructed in 2006.
    • Located in Old Forge, PA, with public sewer access.

    Overview

    This well-maintained multi-tenant commercial property in Old Forge, PA, presents a cash-flowing investment opportunity with additional upside potential. The property includes two buildings. Building #1 is a 7,200 square foot single-story medical office building. It is currently occupied by a pharmacy and two medical practices. One vacant suite is available for lease, offering immediate value-add potential. Building #2 is a 3,600 square foot mixed-use building. The front portion is occupied by a retail/optometrist office, and the rear features a one-bedroom apartment, providing additional rental income. The current owner pays the real estate taxes. Suite 3 in Building #1 is available for occupancy, presenting an owner-user opportunity. The existing optometrist tenant is willing to relocate to this suite, allowing a purchaser to occupy the retail space in Building #2 while maintaining rental income from the remaining tenants. The property is zoned C-1 Main St Com and sits on a 0.6-acre lot. This property offers a combination of established tenancy and income generation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Old Forge Animal Hospital — R, 904 S Main St, Old Forge, PA 18518
    • Memorial Veterinary Hospital — 629 S Main St, Old Forge, PA 18518

    Location Insight

    • Map
    • Local Demand
    City
    Old Forge
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.742906
    Latitude
    41.362491

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    FAQs

    What type of property is this?
    Medical Office Space - Well-maintained commercial property with income and upside potential in Old Forge.
    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: Stable income‑generating commercial property with established tenants including a pharmacy, medical practices, and optometrist, as well as residential units.; Immediate value‑add potential with a vacant suite in the medical office building.; Mixed‑use property featuring both commercial and residential rental income streams.
    (570) 430-0141
    We can help!
    Listing Contact
    Marilee Barone
    Real Estate License ID: AB067373
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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