Listing Agency: Cowanesque Lake Realty LLC Show Phone

Listed By: Sara Saxbury · License #RS363155 Show Phone

Added: Jun 15 Changed: Oct 13 Last Checked: Nov 4 at 3:06AM

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MLS# 31727593

Copyright © 2026 Northern Mountains of Pennsylvania MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This flex property includes a 1,600-square-foot garage on 1.79 acres, with a heated and insulated building suitable for workshop or storage applications. The interior provides two office spaces, 11-foot ceilings, and electrical service, while a 12-by-10-foot garage door supports equipment and vehicle access. A passing perc test is on file.

Set on Packard Rd in Covington, Pennsylvania, the property offers a private setting with surrounding land that can accommodate parking, outdoor storage, or future expansion. The combination of enclosed workspace, office areas, and usable acreage provides a practical base for a business, hobby operation, or storage needs.

Key Highlights

• 1,600‑square‑foot heated and insulated garage
• Two interior office spaces
• 11‑foot ceilings and a 12‑by‑10‑foot garage door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,336

Cap Rate

7.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$226,720 $226.7K

Cap Rate 7%

$161,943 $161.9K

Cap Rate 9%

$125,956 $126.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,600 SF

Gross rent

$14.1K $8.83/SF

− Vacancy

−$791 −$0.49/SF

EGI

$13.3K $8.34/SF

− OpEx

−$2.0K −$1.25/SF

NOI

$11.3K $7.09/SF

Area

Tioga County, PA

Vacancy

5.60%

Lease Rate

$8.83 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$226,720

Cap Rate 7%

$161,943

Cap Rate 9%

$125,956

Alternative Uses

Best Use

Warehouse

$161.9K

$141.7K – $188.9K (±1% cap)

NOI $11,336 @ 7.0% cap · market cap 7.46%

Second Best

Flex RnD

$159.9K

$139.9K – $186.5K (±1% cap)

NOI $11,192 @ 7.0% cap · market cap 7.37%

Theoretical Best

Healthcare Medical

$272.6K

$238.5K – $318.0K (±1% cap)

NOI $19,079 @ 7.0% cap · market cap 12.56%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Lease Details

11 ft

Clear height

1

Drive-in doors

2

Office units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 16917, PA

1,464

Population

707

Households

2.1

Avg Household Size

44

Median Age

21%

College-Educated

92%

High-School Grad

52.0 sq mi

ZIP Area

28

Density / Sq Mi

$68,750

Median Household Income

$34,906

Median Earnings

$930

Median Rent

$161,000

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Similar For Sale Nearby

See more

Manufacturing Building with Loading Docks

77 W Hill Rd, Covington, PA 16917

$350,000

27,500 SF

View details

Three-Unit Triplex with Enclosed Porch

15 E HILL ROAD, Covington, PA 16917

$175,000

0.16 Acres

View details

Frequently Asked Questions

What type of property is this?

Flex space - Heated, insulated flex space includes offices, electrical service, and a garage door for practical business use.

Where is this flex space located?

The property is located at Packard Rd Covington, PA.

What is the asking price?

The asking price for this property is $151,900.

What are key features of this property?

This property features: 1,600‑square‑foot heated and insulated garage; Two interior office spaces; 11‑foot ceilings and a 12‑by‑10‑foot garage door