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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    123 Lehigh St Wilkes-Barre, PA 18702

    • Residential income homes
    • 2,769 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1350749
    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

    • Residential income homes

    Property Details for 123 Lehigh St

    Property size
    2,769 SF
    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a three-unit mixed-use building located at 123-125 Lehigh Street in Wilkes-Barre, Pennsylvania, 18702. The property boasts a total of 2,769 square feet situated on a 3,198 square foot lot, zoned R1. The building is a two-story structure currently configured as a single-family rental portfolio. The asking price is $209,000, translating to a price per square foot of $75.48. This represents a compelling entry point for investors seeking a hands-on project with significant upside potential. The property is being sold "AS IS," allowing for creative renovation and repositioning strategies. Given its location in Wilkes-Barre and the existing multi-unit configuration, this property offers a unique chance to capitalize on the growing demand for rental housing or explore alternative mixed-use development options. The property's size and zoning provide flexibility for a variety of uses, making it an attractive proposition for both seasoned investors and those new to the market. Serious inquiries are encouraged to explore the full potential of this promising investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilkes-Barre
    County
    Luzerne
    State
    Pennsylvania
    Longitude
    -75.886913768815
    Latitude
    41.235722550427

    Comparable in this City

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      5,260 SF

      Mixed-Use Property in Wilkes Barre

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      105 Casey Ave, Wilkes Barre Township, PA 18702
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      Apartment Building with Retail Space

      33 apartments, 5,000 SF retail, and parking garage.
      216 North River St, Wilkes Barre, PA 18702
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    • $424,900
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      Remodeled Multifamily Property, Wilkes-Barre

      Remodeled 3-unit property with cash flow potential and separate utilities.
      354 N Main St, Wilkes Barre, PA 18702
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    • $349,900
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      Wilkes-Barre Multifamily Investment Opportunity

      Four-unit multifamily property in Wilkes-Barre, Pennsylvania with immediate income.
      51-53 S Welles St, Wilkes Barre, PA 18702
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    • New
      $265,000
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      Turn-Key Duplex in Prime Location

      Renovated duplex with 6 bedrooms, ideal for investors or homeowners.
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    • $274,900
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      Updated Duplex in Wilkes-Barre

      Move-in ready duplex in Wilkes-Barre, ideal for investors/owner-occupants.
      627 Carey Ave, Wilkes Barre, PA 18702
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    Similar Nearby for Sale

    • $575,000
      5,260 SF

      Mixed-Use Property in Wilkes Barre

      Mixed-use property with income potential in Wilkes-Barre Township, PA.
      105 Casey Ave, Wilkes Barre Township, PA 18702
      View Details
    • Contact for pricing
      40,032 SF

      Apartment Building with Retail Space

      33 apartments, 5,000 SF retail, and parking garage.
      216 North River St, Wilkes Barre, PA 18702
      View Details
    • $424,900
      2,880 SF

      Remodeled Multifamily Property, Wilkes-Barre

      Remodeled 3-unit property with cash flow potential and separate utilities.
      354 N Main St, Wilkes Barre, PA 18702
      View Details
    • $349,900
      4,207 SF

      Wilkes-Barre Multifamily Investment Opportunity

      Four-unit multifamily property in Wilkes-Barre, Pennsylvania with immediate income.
      51-53 S Welles St, Wilkes Barre, PA 18702
      View Details
    • $274,900
      2,520 SF

      Updated Duplex in Wilkes-Barre

      Move-in ready duplex in Wilkes-Barre, ideal for investors/owner-occupants.
      627 Carey Ave, Wilkes Barre, PA 18702
      View Details
    • $315,000
      2,408 SF

      Remodeled Multifamily Property with Parking

      Updated duplex with off-street parking, ideal for investors.
      39 Essex Ln, Wilkes Barre, PA 18702
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    Similar Nearby for Lease

    • Contact for pricing
      14,931 SF

      Retail Space in Wilkes Barre

      Retail property available for lease in Wilkes Barre, Pennsylvania.
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    • $16 SF/Yr
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      Wilkes Barre Office Space Available

      9,000 SF office space for rent in Wilkes Barre.
      380 Coal St, Wilkes Barre, PA 18702
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    • $10 SF/Yr
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      Retail Space Available For Rent

      2,200 square feet retail space for rent.
      695 Kidder St, Wilkes Barre, PA 18702
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    • Contact for pricing
      4,000 SF

      Retail Space in Walmart-Anchored Center

      Retail space available in high-traffic, Walmart-anchored shopping center.
      2238-2300 Wilkes Barre Township Blvd, Wilkes Barre Township, PA 18702
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      59,417 SF

      Class A Office Space Available

      Superior office space for lease in Wilkes-Barre, Pennsylvania.
      613 Baltimore Dr, Wilkes Barre, PA 18702
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    • $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
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    123 Lehigh St
    Wilkes-Barre, PA 18702
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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
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