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    216 Lackawanna Ave Olyphant, PA 18447

    For Sale
    $1,500,000

    Mixed-use, established business, high potential.

    Property size:
    18,725 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional commercial property in Olyphant, Pennsylvania, presents a unique investment opportunity. Located at 216 Lackawanna Avenue, this 0.68-acre lot encompasses two buildings totaling 18,725 square feet. The property includes a thriving banquet facility with seating for 275 guests, a storefront, a deli, and six income-generating apartments. The sale includes the established businesses, all equipment, furniture, and a liquor license. A significant advantage is the large paved parking lot accommodating 50+ vehicles. The banquet building boasts a newly installed roof (February 2024). Ceiling heights range from 13 to 16 feet, and there are no overhead doors. The property's prime downtown Olyphant location ensures high visibility and accessibility. Note that all measurements are approximate and not warranted. Flood insurance is required. This turnkey operation offers immediate income and significant growth potential. The asking price is $1,500,000.

    Property Features for 216 Lackawanna Ave

    General Information

    Property type
    Land
    Square Feet
    18,725 SF
    Lot Size
    29,621 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ethan’s Eats Family Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Olyphant
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.6045633
    Latitude
    41.4697468

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      Olyphant Mixed-Use Investment Opportunity

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    FAQs

    What type of property is this?
    Land - Mixed-use, established business, high potential.
    Where is this land located?
    The property is located at 216 Lackawanna Ave Olyphant, PA.
    What is the asking price?
    The asking price for this property is $1,500,000.
    Request Owner's contact information
    216 Lackawanna Ave Olyphant, PA 18447
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    Olyphant, PA 18447
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    Realmo Value Estimation

    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.

    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.

    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
    216 Lackawanna Ave Olyphant, PA 18447
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