Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    240 George Ave Wilkes Barre, PA 18705-3031
    Back to Search
    Property profile & analytics

    240 George Ave, Wilkes Barre, PA 18705-3031

    View on Map
    • Parking lots & garages
    • 0.04 lot acres
    Off-Market
    Property ID
    US73-5821964
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Parking lots & garages

    Property Details for 240 George Ave

    Lot size
    0.04 lot acres
    Property type
    Parking lots & garages
    APN
    73-H10NE1-017-013
    APU
    73H10NE1017013

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 30, 2018 $270,000 Mahadev Real Estate LLC Flaherty,mark A & Colleen M Grant Deed $216k · Landmark Cmnty Bk
    Sep 27, 2005 $355,000 Flaherty,mark A & Colleen M Pukatch,gail Grant Deed —
    — — Mark A Flaherty — Deed Of Trust · related $30k · Landmark Community Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilkes Barre
    County
    Luzerne
    State
    Pennsylvania
    Longitude
    -75.8433
    Latitude
    41.2585
    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
    $174
    $7,000
    $0.00
    $7,000
    -
    $7,000
    $0.00
    $7,000

    Comparable in this City

    • Value Estimation by Request
      0.19 Acres

      10 Nicholson St

      PARKING LOT
      10 Nicholson St, Plains, PA 18705
      View Details
    • Value Estimation by Request
      0.17 Acres

      Conlon Ave

      PARKING LOT
      Conlon Ave, Wilkes Barre, PA 18705
      View Details
    • Value Estimation by Request
      0.08 Acres

      476 Main St

      PARKING LOT
      476 Main St, Wilkes Barre, PA 18705-1626
      View Details
    • Value Estimation by Request
      0.08 Acres

      69 Chestnut St

      PARKING LOT
      69 Chestnut St, Wilkes Barre, PA 18705-2433
      View Details
    • Value Estimation by Request
      0.22 Acres

      25 Oak St

      PARKING LOT
      25 Oak St, Hudson, PA 18705-3400
      View Details
    • Value Estimation by Request
      0.21 Acres

      220 George Ave

      PARKING LOT
      220 George Ave, Wilkes Barre, PA 18705-3031
      View Details

    Similar Nearby for Sale

    • $250,000
      1,000 SF

      Commercial Building in Wilkes-Barre

      Commercial building for sale, currently operating as a pizza restaurant.
      13 Woodward St, Wilkes Barre, PA 18705
      View Details
    • Contact for pricing
      7,759 SF

      Leased Medical Office Investment

      Fully leased medical office with long-term tenant in place.
      200 S River St, Plains, PA 18705
      View Details
    • $149,900
      2,800 SF

      Wilkes Barre Multifamily Rehab Opportunity

      Multifamily property in Wilkes Barre, PA, ideal for rehabilitation.
      98 Brookside St, Wilkes Barre, PA 18705
      View Details
    • Contact for pricing
      735 SF

      Plains Commercial Space - High Traffic Area

      Prime Plains location, 735 sq ft, high visibility.
      30 Carey St, Plains, PA 18705
      View Details
    • $300,000
      Pending

      Land Available in Plains, PA

      Land for sale in Plains, Pennsylvania.
      589 N Main St, Plains, PA 18705
      View Details
    • Contact for pricing
      1,000 SF

      Commercial Building For Sale

      Commercial building for sale, currently operating as a pizza restaurant.
      13 Woodward St, Wilkes Barre, PA 18705
      View Details

    Similar Nearby for Lease

    • $1,050 /Mo
      800 SF

      Retail Space in Plains, PA

      800 SF retail space available for lease in Plains.
      102 Maffett St, Plains, PA 18705
      View Details
    • $1,200 /Mo
      1,050 SF

      Retail Space in Plains, PA

      1050 sq ft retail space with high visibility.
      34 E Carey St, Plains, PA 18705
      View Details
    • New
      $1,500 /Mo
      1,400 SF

      Flex Space with Utilities Included

      Flexible commercial space available for lease with utilities included, simplifying monthly occupancy costs.
      220 S River St, Wilkes Barre, PA 18705
      View Details
    • $1.00 SF/Yr
      5,000 SF

      Wilkes-Barre Warehouse Space Available

      Warehouse space for rent in Wilkes-Barre, Pennsylvania.
      101 E Main St, Wilkes Barre, PA 18705
      View Details
    • Contact for pricing

      Office Space with River Views

      Multiple office spaces available with Susquehanna River views.
      670 S River St, Plains, PA 18705
      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.
    240 George Ave
    Wilkes Barre, PA 18705-3031
    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
    240 George Ave, Wilkes Barre, PA, 18705
    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!