Flex Space with Drive-Through
For Sale
$114,900
902 N Penn Court, Hazleton, PA 18201
Commercial, Hazleton, PA
Property Size2,080 SF
Price / SF$55.24
Days on Market72
Property Features for 902 N Penn Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Residential
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Hazleton
Middle school district
Hazleton
High school district
Hazleton
Directions
Between 19th & 20th Sts
Subdivision
Hazleton Area
Standard status
Active
APN
T8NW14012015-71
Size
2,080 SF
Taxes and HOA fees
Tax Description
Sellers personal property not specifically included
Tax Annual Amount
1722
Legal Description
Sellers personal property not specifically included
Building Details
Year built
1970
Listing Agency:
Action Real Estate
(570) 453-0303
Listed By:
Kathleen Lutsky · License #RS312832
(570) 233-3812
Added: Jul 10
Changed: Sep 2
Last Checked: Sep 19 at 7:06AM
MLS# 26-912
Copyright © 2026 Luzerne County Association of REALTORS®. 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.
This 2,080-square-foot flex-space building, constructed in 1970, combines a four-car garage with high ceilings and drive-through doors. Interior accommodations include one bathroom, while a front signpost provides on-site identification. The property carries Residential zoning with a Business Variance.
Vehicle parking is distributed across the front, side, and rear lots, with capacity for up to 7 cars in the front and side areas and 5 or 6 additional vehicles at the back. The stated use possibilities include notary services, multi-service operations, a hair salon, and private vehicle, boat, or equipment storage and work.
Vehicle parking is distributed across the front, side, and rear lots, with capacity for up to 7 cars in the front and side areas and 5 or 6 additional vehicles at the back. The stated use possibilities include notary services, multi-service operations, a hair salon, and private vehicle, boat, or equipment storage and work.
Key Highlights
- 2,080 SF flex‑space building constructed in 1970
- Four‑car garage with high ceilings and drive‑through doors
- Residential zoning with a Business Variance
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
$8,883
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
7.73%
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%
$177,660
$177.7K
Cap Rate 7%
$126,900
$126.9K
Cap Rate 9%
$98,700
$98.7K
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
$14.5K $6.96/SF
− Vacancy
−$811 −$0.39/SF
EGI
$13.7K $6.57/SF
− OpEx
−$4.8K −$2.30/SF
NOI
$8.9K $4.27/SF
Area
Luzerne County, PA
Vacancy
5.60%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
35.00%
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%
$177,660
Cap Rate 7%
$126,900
Cap Rate 9%
$98,700
Alternative Uses
Best Use
Industrial
$164.0K
$143.5K – $191.3K
NOI $11,479 @ 7.0% cap · market cap 9.99%
Second Best
Flex RnD
$126.9K
$111.0K – $148.1K
NOI $8,883 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$658.9K
$576.6K – $768.8K
NOI $46,126 @ 7.0% cap · market cap 40.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - A business variance accompanies adaptable garage, service, storage, and vehicle-related space.
Where is this flex space located?
The property is located at 902 N Penn Court Hazleton, PA.
What is the asking price?
The asking price for this property is $114,900.
What are key features of this property?
This property features: 2,080 SF flex‑space building constructed in 1970; Four‑car garage with high ceilings and drive‑through doors; Residential zoning with a Business Variance
