Flex Building with Drive-Through
For Sale
$124,900
902 N Penn Ct, Hazleton, PA 18201
Flexible commercial building with separated work areas, vehicle storage, and on-site parking in Hazleton.
Property Size2,080 SF
Price / SF$60.05
Days on Market225
Property Features for 902 N Penn Ct
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Commercial
Building Details
Year Built
1970
Listing Agency:
Action Real Estate
(570) 453-0303
Listed By:
Kathleen Lutsky · License #RS312832
Source:
Nepahousehunt
Added: Jan 18
Changed: Aug 30
Last Checked: Aug 30 at 6:10PM
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 Action Real Estate
Investment Insights
Based on property information with market context.
This 2,080-square-foot flex building includes a three-car garage with high ceilings and drive-through garage doors. The interior is divided into multiple work rooms, providing separate areas for storage, projects, or other commercial functions. A storage shed adds additional utility on the rear lot, while a signpost is positioned at the front of the property.
Parking is arranged across the front, side, and rear lots, with space for up to 7 cars in the front and side areas and another 5 or 6 vehicles at the back. The property previously operated as a print shop. Any change in use requiring a zoning variance would be subject to applicable approvals.
Parking is arranged across the front, side, and rear lots, with space for up to 7 cars in the front and side areas and another 5 or 6 vehicles at the back. The property previously operated as a print shop. Any change in use requiring a zoning variance would be subject to applicable approvals.
Key Highlights
- 2,080‑square‑foot flex building at 902 Penn Ct, Hazleton, PA
- Three‑car garage with high ceilings and drive‑through garage doors
- Multiple separated work rooms inside the building
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
$11,479
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
9.19%
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%
$229,580
$229.6K
Cap Rate 7%
$163,986
$164.0K
Cap Rate 9%
$127,544
$127.5K
Market Conditions
NOI Build-Up for 2,080 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
$18.2K $8.76/SF
− Vacancy
−$1.8K −$0.88/SF
EGI
$16.4K $7.88/SF
− OpEx
−$4.9K −$2.37/SF
NOI
$11.5K $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 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%
$229,580
Cap Rate 7%
$163,986
Cap Rate 9%
$127,544
Alternative Uses
Best Use
Retail
$247.1K
$216.2K – $288.3K
NOI $17,297 @ 7.0% cap · market cap 13.85%
Second Best
Industrial
$164.0K
$143.5K – $191.3K
NOI $11,479 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$658.9K
$576.6K – $768.8K
NOI $46,126 @ 7.0% cap · market cap 36.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18201, PA
31,310
Population
13,318
Households
2.4
Avg Household Size
37
Median Age
11%
College-Educated
76%
High-School Grad
17.5 sq mi
ZIP Area
1,789
Density / Sq Mi
$43,983
Median Household Income
$30,463
Median Earnings
$1,019
Median Rent
$131,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building with separated work areas, vehicle storage, and on-site parking in Hazleton.
Where is this flex space located?
The property is located at 902 N Penn Ct Hazleton, PA.
What is the asking price?
The asking price for this property is $124,900.
What are key features of this property?
This property features: 2,080‑square‑foot flex building at 902 Penn Ct, Hazleton, PA; Three‑car garage with high ceilings and drive‑through garage doors; Multiple separated work rooms inside the building
