Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    151 Second St Wilkes Barre, PA 18702

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Development site with warehouse space for sale.

    Type:Office, Industrial, Land
    Property size:
    5,398 SF
    Lot size:
    8.60 Acres
    Added:
    Jun 7, 2024
    Days on Market:
    680
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 151 Second St

    General Information

    Standard status
    Active
    Size
    5,398 SF
    Lot size
    8.60 Acres
    Property subtype
    Office, Industrial, Land

    We can help!

    Listing Contact
    Steve Cole

    Listing agent Steve Cole License #PA RB043368C

    Listing office NAI Mertz | Wilkes - Barre

    Listing date Jun 7, 2024

    Source Crexi

    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 NAI Mertz | Wilkes - Barre

    Overview

    8.6 Acre Development Site

    An 8.6-acre development site is available, featuring an existing 5,398± square foot warehouse space. The building is currently occupied by two long-term tenants, utilizing 4,200± square feet and outside yard space for trailer parking. A 1,200± square foot rear shop building with drive-through access is currently vacant. The parcels will be subdivided. The property is within close proximity to both exits 1 and 2 of the Cross Valley Expressway and within 3 miles to Exit 170 of Interstate 81.
    Location Intelligence

    Current Use by Public Records

    Performance Foodservice Big Box & Wholesale Store Home City Ice Big Box & Wholesale Store Reinhart Foodservice Big Box & Wholesale Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilkes Barre
    County
    Luzerne
    State
    Pennsylvania
    Longitude
    -75.828374
    Latitude
    41.262476

    Nearby Similar for Sale

    • $250,000
      1,000 SF

      Commercial Building in Wilkes-Barre

      Commercial building for sale, currently operating as a pizza restaurant.
      13 Woodward Street, Wilkes-Barre, PA 18705
      View Details
    • $500,000
      5,194 SF

      Remodeled Multifamily Building for Sale

      Five-unit apartment building in Wilkes-Barre, PA, fully remodeled.
      273-275 New Hancock Street, Wilkes-Barre, PA 18702
      View Details
    • $1,000,000
      7,200 SF

      Renovated Multifamily Investment Opportunity

      Turn-key, renovated 8-unit apartment building in Wilkes-Barre, Pennsylvania.
      2-4 S Empire Street, Wilkes-Barre, PA 18702
      View Details
    • $485,000
      3,350 SF

      Turnkey Restaurant/Bar with Apartments

      Newly renovated restaurant/bar with apartments near Mohegan Sun Casino.
      20 School Street, Wilkes-Barre, PA 18705
      View Details
    • $215,000
      2,600 SF

      Turnkey Duplex in Wilkes-Barre

      Fully occupied duplex, ideal for immediate cash flow.
      272 Mayock Street, Wilkes-Barre, PA 18705
      View Details
    • $149,900
      2,800 SF

      Wilkes Barre Multifamily Rehab Opportunity

      Multifamily property in Wilkes Barre, PA, ideal for rehabilitation.
      98 Brookside Street, Wilkes Barre, PA 18705
      View Details
    • $899,999
      87,000 SF

      Wilkes-Barre Warehouse Redevelopment Opportunity

      Two-story, 87,000 SF warehouse for renovation or redevelopment.
      173 Gilligan Street, Wilkes-Barre, PA 18702
      View Details
    • $194,900
      3,150 SF

      Turnkey Duplex in Wilkes Barre

      Side-by-side duplex with upside potential near amenities.
      10 Beekman Street, Wilkes Barre, PA 18702
      View Details
    • $228,000
      2,723 SF

      Multi-Family Investment Opportunity

      Multi-family property in Wilkes-Barre, PA, ideal for investment.
      6 Barney Street, Wilkes-Barre, PA 18702
      View Details
    • $209,900
      3,200 SF

      Spacious Duplex in Wilkes-Barre

      Large 3-bedroom duplex with rental upside in Wilkes-Barre.
      88-90 Marlboro Avenue, Wilkes Barre, PA 18702
      View Details
    • $240,000
      1,712 SF

      Well-Maintained Duplex in Wilkes-Barre

      Two-unit duplex with immediate income potential in Hanover Township.
      219 Taft Street, Wilkes-Barre, PA 18706
      View Details
    • $273,800
      2,520 SF

      Updated Duplex in Wilkes-Barre City

      Move-in ready 2-unit property, ideal for investors or owner-occupants.
      627 Carey Avenue, Wilkes Barre, PA 18702
      View Details

    FAQs

    What type of property is this?
    Commercial land - Development site with warehouse space for sale.
    Where is this commercial land located?
    The property is located at 151 Second St Wilkes Barre, PA.
    What are key features of this property?
    This property features: 8.6 Acre development site offers significant potential.; Existing **5,398± SF Warehouse provides immediate income potential.**; Two long‑term tenants occupy 4,200± SF and yard space.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Steve Cole
    Real Estate License ID: PA RB043368C
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!