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

    497 Hazle St Wilkes Barre, PA 18702

    • Investment properties
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Sep 07, 2021
    $170,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2306003
    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

    • Investment properties

    Property Details for 497 Hazle St

    Lot size
    0.28 lot acres
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    73-I9NE4-009-003
    APU
    73I9NE4009003

    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
    -75.8932
    Latitude
    41.2276
    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
    $4,558
    $24,600
    $159,300
    $183,900
    -
    $24,600
    $159,300
    $183,900

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      53 Carey Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.07 Acres
      53 Carey Ave, Wilkes Barre, PA 18702-2215
      View Details
    • Value Estimation by Request
      0.08 Acres

      Matcalf St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.08 Acres
      Matcalf St, Wilkes Barre, PA 18702
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    • Value Estimation by Request
      1,118 SF

      258 Bowman St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,118 SF
      258 Bowman St, Wilkes Barre, PA 18702-5405
      View Details
    • Value Estimation
      $26,290,000
      18.00 Acres

      Coal At N Sherman St

      OFFICE/RESIDENTIAL (MIXED USE) • 18.00 Acres
      Coal At N Sherman St, Wilkes Barre, PA 18702
      View Details
    • Value Estimation by Request
      2,520 SF

      627 Carey Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,520 SF
      627 Carey Ave, Wilkes Barre, PA 18702-1447
      View Details
    • Value Estimation by Request
      4.96 Acres

      43 Conyngham Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4.96 Acres
      43 Conyngham Ave, Wilkes Barre, PA 18702-5600
      View Details

    Similar Nearby for Sale

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      Mixed-Use Property in Wilkes Barre

      Mixed-use property with income potential in Wilkes-Barre Township, PA.
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      Wilkes-Barre Multifamily Investment Opportunity

      Four-unit multifamily property in Wilkes-Barre, Pennsylvania with immediate income.
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      Large Multifamily Property with Potential

      Spacious fixer-upper with off-street parking and large backyard.
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      Wilkes-Barre Commercial Property For Sale

      Commercial property featuring showroom, offices, garage bays, and storage.
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      6,145 SF

      Mundy Street Commercial Property Available

      High-visibility 2.54-acre corner lot with modern 6,145 SF building.
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      Retail Hub Shopping Center

      100% leased shopping center in Wilkes-Barre retail hub.
      251 Mundy St, Wilkes Barre, PA 18702
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    Similar Nearby for Lease

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      14,931 SF

      Retail Space in Wilkes Barre

      Retail property available for lease in Wilkes Barre, Pennsylvania.
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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
      2,200 SF

      Retail Space Available For Rent

      2,200 square feet retail space for rent.
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      4,000 SF

      Retail Space in Walmart-Anchored Center

      Retail space available in high-traffic, Walmart-anchored shopping center.
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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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    497 Hazle 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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