Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1 Passan Dr Wilkes Barre, PA 18702

    • Warehouses
    • 8.46 lot acres
    OFF-MARKET
    Value Estimations
    $475,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-3572199
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Valley Distribution & Storage / Shipping Company / Logistics Service
    • Taylor Communications / Corporate Office
    • CDS Transportation / Transportation Service
    • KAPPA PRODUCT / Warehouse
    • PODS Moving & Storage / Moving Supply Store / Packaging Supply Store

    Property Details for 1 Passan Dr

    Lot size
    8.46 lot acres
    Property type
    Warehouses
    APN
    36-F11-00A-12A
    APU
    36F1100A12A

    Description

    This single-story, 52,500-square-foot industrial building in Wilkes-Barre, PA, offers a unique opportunity. Located in the Northeast Pennsylvania I-81 corridor, this Class C property boasts 18,750 square feet of immediately available space. Built in 1972 and renovated in 1982, the building features 23'-30' ceiling heights, perfect for various industrial uses. The property includes 20 loading docks and 2 drive-ins, ensuring efficient material handling. Power is supplied by a 400 amp, 3-phase, 120/240-volt system. Situated on 56.88 acres, the property is zoned for industrial use and is conveniently located at 1 Passan Dr, Korn Krest, PA 18702. The building is divided into two suites, offering flexibility for multiple tenants. While elevators are not present, the single-story design facilitates easy access. This prime location within the I-81 corridor provides excellent access to major transportation routes. The property's size and features make it ideal for manufacturing and warehousing operations. This is a rare opportunity to acquire a substantial industrial property in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $475,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilkes Barre
    County
    Luzerne
    State
    Pennsylvania
    Longitude
    -75.802
    Latitude
    41.2929
    CBSA code
    42540
    CBSA name
    SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $57,593
    $253,800
    $1,908,500
    $2,162,300
    -
    $253,800
    $1,908,500
    $2,162,300

    Comparable in this City

    • Value Estimation
      $265,000
      0.30 Acres

      720 Main St

      WAREHOUSE, STORAGE • 0.30 Acres
      720 Main St, Wilkes Barre, PA 18702-3623
      View Details
    • Value Estimation
      $265,000
      1,394 SF

      242 Parrish St

      WAREHOUSE, STORAGE • 1,394 SF
      242 Parrish St, Wilkes Barre, PA 18702-4667
      View Details
    • Value Estimation
      $260,000
      0.52 Acres

      398 Pennsylvania Ave

      WAREHOUSE, STORAGE • 0.52 Acres
      398 Pennsylvania Ave, Wilkes Barre, PA 18702-4415
      View Details
    • Value Estimation
      $450,000
      7.56 Acres

      2 3rd 3rd Bldg

      WAREHOUSE, STORAGE • 7.56 Acres
      2 3rd 3rd Bldg, Wilkes Barre, PA 18702
      View Details
    • Value Estimation
      $265,000
      0.50 Acres

      142 Darling St

      WAREHOUSE, STORAGE • 0.50 Acres
      142 Darling St, Wilkes Barre, PA 18702-2520
      View Details
    • Value Estimation
      $455,000
      8.07 Acres

      Adj D H Railroad

      WAREHOUSE, STORAGE • 8.07 Acres
      Adj D H Railroad, Wilkes Barre, PA 18702
      View Details

    Similar Nearby for Sale

    • $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
    • $525,000
      9,950 SF

      Wilkes-Barre Commercial Property For Sale

      Commercial property featuring showroom, offices, garage bays, and storage.
      12 Ruddle St, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing
      8 SF

      8.6 Acre Development Site

      8.6 acre development site with existing warehouse space.
      Wilkes Barre, PA 18702
      View Details
    • Contact for pricing
      8.60 Acres

      Wilkes-Barre Industrial Land Development

      8.6-Acre Industrial Site with Warehouse
      151 2Nd St, Wilkes-Barre, PA 18702
      View Details
    • $2,650,000
      49,962 SF

      Industrial Manufacturing Facility Near I-81

      49,962 SF industrial facility with manufacturing and office space.
      120 Hazle St, Wilkes Barre, PA 18702
      View Details
    • $165,000
      3,688 SF

      Large Multifamily Property with Potential

      Spacious fixer-upper with off-street parking and large backyard.
      195-197 Parrish St, Wilkes Barre, PA 18702
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      33,650 SF

      Functional Industrial Space in Wilkes-Barre

      33,000 SF industrial space suitable for various operations.
      373 High St, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing
      52,800 SF

      Laird Street Flex Warehouse Space

      11,000 SF Flex Space Available in Wilkes-Barre
      300 Laird St, Wilkes-Barre, PA 18702
      View Details
    • $2.00 SF/Yr
      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
      14,931 SF

      Retail Space in Wilkes Barre

      Retail property available for lease in Wilkes Barre, Pennsylvania.
      272 East End Ctr, Wilkes Barre, PA 18702
      View Details
    • $16 SF/Yr
      9,000 SF

      Wilkes Barre Office Space Available

      9,000 SF office space for rent in Wilkes Barre.
      380 Coal St, Wilkes Barre, PA 18702
      View Details
    • $10 SF/Yr
      2,200 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.
    1 Passan Dr
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.