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

    1624 Main St Blakely, PA 18447-1367

    • Office buildings
    • 0.79 lot acres
    OFF-MARKET
    Last Sale
    Sep 15, 2020
    $375,000
    Value Estimations
    $415,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2751613
    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

    • Office buildings

    Property Details for 1624 Main St

    Lot size
    0.79 lot acres
    Property type
    Office buildings
    APN
    10318050017
    APU
    10318050017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $415,000
      ML approach
      $410,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Blakely
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.6037
    Latitude
    41.4763
    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
    2024
    $7,361
    $8,000
    $30,000
    $38,000
    -
    $8,000
    $30,000
    $38,000

    Comparable in this City

    • Value Estimation
      $275,000
      0.17 Acres

      544 Main St

      OFFICE BUILDING • 0.17 Acres
      544 Main St, Blakely, PA 18447
      View Details
    • Value Estimation
      $2,540,000
      5.11 Acres

      1444 Lackawanna St

      OFFICE BUILDING • 5.11 Acres
      1444 Lackawanna St, Olyphant, PA 18447-2174
      View Details
    • Value Estimation
      $360,000
      1.24 Acres

      1801 Main St

      OFFICE BUILDING • 1.24 Acres
      1801 Main St, Blakely, PA 18447-1365
      View Details
    • Value Estimation
      $310,000
      1.00 Acre

      1503 Lackawanna St

      OFFICE BUILDING • 1.00 Acre
      1503 Lackawanna St, Olyphant, PA 18447-2612
      View Details
    • Value Estimation
      $280,000
      0.25 Acres

      505 Sunset Dr

      OFFICE BUILDING • 0.25 Acres
      505 Sunset Dr, Dickson Cty, PA 18447-1323
      View Details
    • Value Estimation
      $260,000
      0.31 Acres

      514 516th Burke By Pass

      OFFICE BUILDING • 0.31 Acres
      514 516th Burke By Pass, Olyphant, PA 18447
      View Details

    Similar Nearby for Sale

    • $439,000
      5,414 SF

      Historic Blakely Office Building

      Victorian Gem, Updated & Leased
      1813 Main St, Blakely, PA 18447
      View Details
    • $389,900
      4,000 SF

      Blakely Retail/Office Investment

      High-visibility, renovated multi-unit building.
      Main St, Blakely, PA 18447
      View Details
    • $525,000
      101.00 Acres

      Prime Land in Throop, PA

      Over 100 acres suitable for development or commercial use.
      Along Lacka Riv, Throop, PA 18447
      View Details
    • $1,500,000
      18,725 SF

      Olyphant Mixed-Use Investment Opportunity

      Profitable Multi-Use Property, Downtown Olyphant
      216 Lackawanna Ave, Olyphant, PA 18447
      View Details
    • $1,000,000
      30.47 Acres

      30.47 Acres of Land For Sale

      30.47 acres of land with road frontage in Scott Twp.
      Justus Blvd, Scott Twp, PA 18447
      View Details
    • Contact for pricing
      0.26 Acres

      Land in Throop, Pennsylvania

      Buildable lot with utilities in Throop, PA.
      1000 S Valley Ave, Olyphant, PA 18447
      View Details

    Similar Nearby for Lease

    • $1,100 /Mo
      1,152 SF

      Olyphant Commercial Space For Rent

      Level, bright, and open commercial space suitable for various uses.
      594 B Burke-By-Pass, Olyphant, PA 18447
      View Details
    • $1,300 /Mo
      1,000 SF

      Olyphant Commercial Space For Rent

      Commercial space available for rent in Olyphant, Pennsylvania.
      520 Burke Byp, Olyphant, PA 18447
      View Details
    • Contact for pricing
      416,000 SF

      Olyphant Warehouse with Expansion Potential

      416,000 SF warehouse with expansion and highway access.
      1220 E Lackawanna Ave, Olyphant, PA 18447
      View Details
    • Contact for pricing
      2,031 SF

      Retail Space at Shoppes Montage

      Retail space available in a shopping center off I-81.
      7011-7041 Shoppes Blvd, Moosic, PA 18447
      View Details
    • Contact for pricing
      2,900 SF

      Retail Space at Shoppes Montage

      Retail space available in a shopping center setting.
      2011-2571 Shoppes Blvd, Moosic, PA 18447
      View Details
    • Contact for pricing
      36,747 SF

      Retail Space at Shoppes Montage

      Retail and dining options in Northeast Pennsylvania near I-81.
      3001-5031 Shoppes Blvd, Moosic, PA 18447
      View Details
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    1624 Main St
    Blakely, PA 18447-1367
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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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