Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    62 Park Ave Wilkes Barre, PA 18702-5823
    Back to Search
    Property profile & analytics

    62 Park Ave, Wilkes Barre, PA 18702-5823

    View on Map
    • Apartment buildings
    • 0.10 lot acres
    Off-Market
    Last Sale Jun 23, 2023
    $661,000
    Property ID
    US73-0935272
    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
    $700,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 62 Park Ave

    Lot size
    0.10 lot acres
    Property type
    Apartment buildings
    APN
    73-H9SE3-008-009
    APU
    73H9SE3008009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 25, 2025 — Wilkes Luxury LLC — Deed · related $436k · Loan Funder LLC Series 49121
    Jun 23, 2023 $661,000 Wilkes Luxury LLC Hsk1 LLC Deed —
    May 17, 2019 $141,120 Hsk1 LLC Hskg LLC Grant Deed $1.1M · Corevest American Fin Lender L
    Dec 13, 2018 $145,000 Hskg LLC Edgell Ents LP Grant Deed —
    Aug 13, 2009 $256,000 Ents Edgell 37th Parallel Properties INC Grant Deed $205k · First Liberty Bank & Trust
    Apr 24, 2008 $60,750 37th Parallel Properties INC Popular Financial Services LLC Grant Deed —
    Mar 12, 2008 $2,953 Popular Finance Services LLC Sheriff Of Luzerne Cnty Trustees Deed · related —
    — — Ents Edgell — Deed Of Trust · related $26k · 37th Parallel Properties INC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $745,000
      ML approach
      $730,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilkes Barre
    County
    Luzerne
    State
    Pennsylvania
    Longitude
    -75.8815
    Latitude
    41.2378
    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
    $3,569
    $32,400
    $111,600
    $144,000
    -
    $32,400
    $111,600
    $144,000

    Comparable in this City

    • Value Estimation by Request
      0.11 Acres

      34 Grant St

      APARTMENT HOUSE (5+ UNITS)
      34 Grant St, Wilkes Barre, PA 18702-5954
      View Details
    • Value Estimation by Request
      0.34 Acres

      78 Academy St

      APARTMENT HOUSE (5+ UNITS)
      78 Academy St, Wilkes Barre, PA 18702-3819
      View Details
    • Value Estimation by Request
      0.23 Acres

      34 Barney St

      APARTMENT HOUSE (5+ UNITS)
      34 Barney St, Wilkes Barre, PA 18702-3630
      View Details
    • Value Estimation by Request
      0.12 Acres

      260 Carey Ave

      APARTMENT HOUSE (5+ UNITS)
      260 Carey Ave, Wilkes Barre, PA 18702-2132
      View Details
    • Value Estimation by Request
      0.15 Acres

      99 Maffett St

      APARTMENT HOUSE (5+ UNITS)
      99 Maffett St, Wilkes Barre, PA 18702-1741
      View Details
    • Value Estimation by Request
      0.19 Acres

      56 Welles St

      APARTMENT HOUSE (5+ UNITS)
      56 Welles St, Wilkes Barre, PA 18702-5102
      View Details

    Similar Nearby for Sale

    • $1,000,000
      7,200 SF

      Renovated Multifamily Investment Opportunity

      Turn-key, renovated 8-unit apartment building in Wilkes-Barre, Pennsylvania.
      2-4 S Empire St, Wilkes Barre, PA 18702
      View Details
    • $1,200,000
      10,400 SF

      Eight-Unit Townhouse Portfolio

      Tenant-occupied, townhouse-style units with private entrances and garage parking.
      40 S Hancock St, Wilkes Barre, PA 18702
      View Details
    • New
      $479,000
      6,098 SF

      Well-Maintained Multifamily Investment Opportunity

      Fully rented 6-unit building near highways, schools, and shopping.
      111 Old River Rd, Wilkes Barre, PA 18702
      View Details
    • New
      $479,000
      6,098 SF

      Well-Maintained Multifamily Investment Opportunity

      Six-unit multifamily property near highways, schools, shopping, and downtown.
      111 Old River Rd, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing
      7,200 SF

      Wilkes-Barre Eight-Unit Apartment Building

      Eight-unit apartment building for sale in Wilkes-Barre, Pennsylvania.
      2 S Empire St, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing
      5,100 SF

      Renovated Multifamily Property in Wilkes-Barre

      Five-unit property with income potential in Wilkes-Barre, Pennsylvania.
      273 New Hancock St, Wilkes Barre, PA 18702
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Near Wyoming Valley Mall

      Commercial land for rent near Wyoming Valley Mall.
      Mundy St, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing
      2,988 SF

      Retail Space in Wilkes Barre

      Retail property available for lease with 2988 square feet.
      1020 Wilkes Barre Township Blvd, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing
      2,498 SF

      Plains Office Space Available

      Office space available for rent in Plains, Pennsylvania.
      1329 Pa-315, Plains, PA 18702
      View Details
    • Contact for pricing
      44,352 SF

      Nelson Industrial Warehouse Space

      Six-story industrial building with freight elevators and convenient highway access.
      42 S Wilkes-Barre Blvd, Wilkes Barre, PA 18702
      View Details
    • Contact for pricing

      Class A Office Suites Available

      Strategically located office suites available for lease in Plains Township.
      1065 Pennsylvania 315, Wilkes Barre, PA 18702
      View Details
    • $9,814 /Mo
      33,650 SF

      Functional Industrial Space in Wilkes-Barre

      33,000 SF industrial space suitable for warehouse, manufacturing, office.
      373 High 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.
    62 Park Ave
    Wilkes Barre, PA 18702-5823
    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
    62 Park Ave, Wilkes Barre, PA, 18702
    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!