Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    151 2Nd St Wilkes-Barre, PA 18702
    Back to Search
    Property profile & analytics

    151 2Nd St Wilkes-Barre, PA 18702

    View on Map
    • Land
    • 8.60 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Performance Foodservice / Big Box & Wholesale Store
    • Home City Ice / Big Box & Wholesale Store / Distribution Center
    • Reinhart Foodservice / Big Box & Wholesale Store

    Property Details for 151 2Nd St

    Lot size
    8.60 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 8.6-acre development opportunity in Wilkes-Barre, Pennsylvania, presents a unique blend of existing infrastructure and future potential. Located at 151 Second St, Luzerne County, zip code 18702, the property boasts a prime location zoned I-1 General Industrial and B-3 Highway Business, offering significant flexibility for various industrial uses. The site includes a 5,398± square foot warehouse currently occupied by two long-term tenants, utilizing 4,200± square feet of space and the exterior yard for trailer parking. A separate 1,200± square foot rear shop building with drive-through access is currently vacant. The warehouse features 15 dock doors, while the office space within the main building totals 980± square feet, complemented by 2,000± square feet of warehouse space and three bathrooms. The shop building offers an additional 1,180± square feet. The property also includes a gravel yard and is partially fenced. Heating in the office is electric baseboard, while the warehouse can be heated with a propane heater. The warehouse boasts a ceiling height of 10 feet at the beam. Existing leases are net, with tenants responsible for utilities, garbage, and snow removal. The property's APN is 50-H11S3-001005, 50-H11S3-001-01K, and 73-H11S3-001-01K. Parcels will be subdivided prior to sale. This is an ideal opportunity for investors or developers seeking a versatile industrial property with immediate income potential and significant expansion possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wilkes-Barre
    County
    Luzerne
    State
    Pennsylvania
    Longitude
    -75.8304
    Latitude
    41.2596

    Comparable in this City

    • Value Estimation by Request
      0.74 Acres

      100 Wilkes-Barre Blvd

      Land • 0.74 Acres
      100 Wilkes-Barre Blvd, Wilkes-Barre, PA 18702
      View Details
    • Value Estimation by Request
      0.07 Acres

      135 Parrish St

      PRINTING, PUBLISHING (LIGHT INDUSTRIAL) • 0.07 Acres
      135 Parrish St, Wilkes Barre, PA 18702-4612
      View Details
    • Value Estimation by Request
      0.06 Acres

      Forrest St

      INDUSTRIAL (GENERAL) • 0.06 Acres
      Forrest St, Wilkes Barre, PA 18702
      View Details
    • Value Estimation by Request
      1.10 Acres

      31 New Hl St

      PRINTING, PUBLISHING (LIGHT INDUSTRIAL) • 1.10 Acres
      31 New Hl St, Wilkes Barre, PA 18702
      View Details
    • Value Estimation by Request
      0.09 Acres

      350 Hazle St

      PRINTING, PUBLISHING (LIGHT INDUSTRIAL) • 0.09 Acres
      350 Hazle St, Wilkes Barre, PA 18702-4832
      View Details
    • Value Estimation by Request
      1.85 Acres

      Wilkes Barre, PA 18702

      LUMBERYARD, BUILDING MATERIALS • 1.85 Acres
      Wilkes Barre, PA 18702
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale, featuring 136,645 square feet.
      441 Wilkes Barre Township Blvd, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing

      8.6 Acre Development Site

      Development site with warehouse and shop building for sale.
      151 2Nd St, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing
      5,398 SF

      8.6 Acre Development Site

      Development site with warehouse space for sale.
      151 2Nd St, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing

      8.6 Acre Development Site

      8.6 acre development site with existing warehouse space.
      151 2 & Laird St, Wilkes Barre, PA 18702
      View Details
    • $899,999
      87,000 SF

      Wilkes-Barre Warehouse Redevelopment Opportunity

      Two-story, 87,000 SF warehouse for renovation or redevelopment.
      173 Gilligan St, Wilkes Barre, PA 18702
      View Details
    • $825,000
      20,727 SF

      Commercial Building on Main Street

      20,727 SF building with garage, office, and retail space.
      540 S Main St, Wilkes Barre, PA 18702
      View Details

    Similar Nearby for Lease

    • $9,814 /Mo
      33,650 SF

      Functional Industrial Space in Wilkes-Barre

      33,000 SF industrial space suitable for warehouse, manufacturing, office.
      373 High St, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing

      Flex and Industrial Warehouse Space

      Flex and industrial warehouse space available for rent.
      300 Laird St, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing
      97,200 SF

      Four-Floor Warehouse in Wilkes-Barre

      97,200 square foot warehouse with easy highway access.
      151-155 E Market St, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing

      Land Near Wyoming Valley Mall

      Commercial land for rent near Wyoming Valley Mall.
      Mundy St, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing

      Prime Commercial Land Opportunity

      1.5-acre commercial land for lease near major retailers.
      308 Wilkes-Barre Township Blvd, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing
      2,088 SF

      Retail Space Available For Rent

      2,200 square feet retail space for rent.
      695 Kidder St, Wilkes Barre, PA 18702
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    151 2Nd St
    Wilkes-Barre, PA 18702
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    151 2Nd St, Wilkes-Barre, PA, 18702
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!