Seven-Unit Retail
For Sale
$899,900
88 S Franklin Street, Wilkes Barre, PA 18701
Commercial Sale, Wilkes-Barre, PA
Property Size5,800 SF
Lot Size0.20 Acres
Price / SF$155.16
Days on Market299
Property Features for 88 S Franklin Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Parking features
Driveway, Offsite
Accessibility
Accessible Approach with Ramp
Elementary school district
Wilkes-Barre Area
Middle school district
Wilkes-Barre Area
High school district
Wilkes-Barre Area
Directions
From Wilkes Barre Blvd, turn right onto Scott St. Then turn Left onto N. Pennsylvania Ave. Turn Right onto E. Northampton St. then turn Right
Standard status
Active
APN
73-H9SE2-026-004
Size
5,800 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5731
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
Spacious reception areas
Comfortable decorative seating
Sleek reception desks
Grand foyer
Elegant staircases
Striking chandeliers
Large windows
Building Details
Year built
1925
Floors in Building
3
Number of units
7
Building materials
Brick
Listing Agency:
Real of Pennsylvania
(855) 450-0442
Listed By:
Melanie A. Mott · License #RS361018
(570) 878-0763
Added: Dec 1, 2025
Changed: Sep 25
Last Checked: Sep 26 at 10:06PM
MLS# SC263150
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.
The 5,800-square-foot brick property contains seven units across three floors, with a mix of leased and available spaces. Reception areas are located on the first and second floors, while the upper level includes a foyer. Large windows provide natural light, and an accessible ramp serves the approach. The building was constructed in 1925 and has forced-air, natural-gas heating and central air conditioning.
Set on a 0.2-acre lot at 88 S Franklin Street in Wilkes-Barre, the property has driveway and off-site parking. Public water and sewer serve the site. C2 zoning supports its identified office and retail configuration.
Set on a 0.2-acre lot at 88 S Franklin Street in Wilkes-Barre, the property has driveway and off-site parking. Public water and sewer serve the site. C2 zoning supports its identified office and retail configuration.
Key Highlights
- 5,800 square feet across 7 individual units
- C2 zoning; spaces are configured for office or retail
- Three‑floor layout with reception areas on the first two floors and a foyer on the third
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
$48,233
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
5.36%
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%
$964,660
$964.7K
Cap Rate 7%
$689,043
$689.0K
Cap Rate 9%
$535,922
$535.9K
Market Conditions
NOI Build-Up for 5,800 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
$76.6K $13.20/SF
− Vacancy
−$7.7K −$1.32/SF
EGI
$68.9K $11.88/SF
− OpEx
−$20.7K −$3.56/SF
NOI
$48.2K $8.32/SF
Area
Luzerne County, PA
Vacancy
10.00%
Lease Rate
$13.20 /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%
$964,660
Cap Rate 7%
$689,043
Cap Rate 9%
$535,922
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.71M
NOI $102,322 @ 7.0% cap · market cap 11.37%
Second Best
Retail
$689.0K
$602.9K – $803.9K
NOI $48,233 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,621 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,119
Businesses Nearby
Explore this area
Business Placement
Demographics for 18701, PA
4,658
Population
1,513
Households
3.1
Avg Household Size
27
Median Age
25%
College-Educated
87%
High-School Grad
0.5 sq mi
ZIP Area
9,316
Density / Sq Mi
$32,417
Median Household Income
$6,479
Median Earnings
$842
Median Rent
$245,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Retail space - C2-zoned space combines multi-tenant occupancy with office or retail configuration.
Where is this retail space located?
The property is located at 88 S Franklin Street Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 5,800 square feet across 7 individual units; C2 zoning; spaces are configured for office or retail; Three‑floor layout with reception areas on the first two floors and a foyer on the third
