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    180 Welles St Forty Fort, PA 18704

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    For Lease
    Contact for pricing

    Forty Fort, PA Office Building - Multiple Suites Available

    Lot size:
    381,881 SF

    Property Features for 180 Welles St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    381,881 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1970/2021

    Spaces For Lease

    at 180 Welles St, Forty Fort, PA 18704 Contact us

    We can help!

    Listing Contact
    Jim Hilsher
    Jim Hilsher

    Listing Agency: Mericle Commercial Real Estate Services Listing Agent: Jim Hilsher

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional Forty Fort, PA office building, located at 180-190 Welles Street, offers 381,881 square feet of versatile space, ideal for executive, medical, or creative office uses. The property, a Class B building constructed in 1970 and renovated in 2021, features multiple tenancy options with a minimum divisible space of 3,860 square feet and spaces available ranging up to 10,134 square feet. Conveniently situated off Exit 4 of the Cross Valley Expressway (Route 309), it enjoys excellent access to I-81 (within 5 minutes) and is less than six miles from five major hospitals and medical facilities. The building boasts 570 on-site parking spaces and passenger elevators, catering to the needs of both employees and clients. Its prime location within a 20-minute drive of a population exceeding 200,000 offers a strong labor pool and significant market reach within the Scranton/Wilkes-Barre submarket of Luzerne County. This property presents a unique opportunity to establish a thriving business in a well-connected and amenity-rich environment. The building's adaptable layout and modern amenities make it an attractive option for a variety of businesses seeking a strategic location in Northeastern Pennsylvania.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Forty Fort
    County
    Luzerne
    State
    Pennsylvania
    Longitude
    -75.8746385
    Latitude
    41.2760481

    Nearby Similar for Lease

    • Contact for pricing
      8,326 SF

      Versatile Space in Forty Fort

      8,326 SF space suitable for fitness, office, or medical use.
      190 Welles St, Forty Fort, PA 18704
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    FAQs

    What type of property is this?
    Office space - Forty Fort, PA Office Building - Multiple Suites Available
    Where is this office space located?
    The property is located at 180 Welles St Forty Fort, PA.
    What are key features of this property?
    This property features: 0.25-mile proximity to SR 309.; 5-minute drive to I-81.; Strong demographics: 200,000 residents within a 20-minute radius.
    (570) 823-1100 Call to check price and availability
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    180 Welles St Forty Fort, PA 18704
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    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
    180 Welles St Forty Fort, PA 18704
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jim Hilsher
    Jim Hilsher
    Real Estate License ID: RS216725L
    (570) 823-1100
    Learn more
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