Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    72 George Ave Wilkes Barre, PA 18705-2512

    • Commercial real estate
    • 1.75 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2865721
    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

    • Panzitta Sales & Service / Repair Service
    • Panzitta Enterprises Inc. / Concrete Contractor

    Property Details for 72 George Ave

    Lot size
    1.75 lot acres
    Property type
    Commercial real estate
    APN
    73-G10SE4-008-05A
    APU
    73G10SE400805A

    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
    -75.8481
    Latitude
    41.2609
    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
    $10,215
    $58,000
    $354,100
    $412,100
    -
    $58,000
    $354,100
    $412,100

    Comparable in this City

    • Value Estimation by Request
      0.34 Acres

      17 Slope St

      COMMERCIAL (GENERAL) • 0.34 Acres
      17 Slope St, Plains, PA 18705-1436
      View Details
    • Value Estimation by Request
      0.25 Acres

      35 Main St

      COMMERCIAL (GENERAL) • 0.25 Acres
      35 Main St, Plains, PA 18705-1914
      View Details
    • Value Estimation by Request
      0.45 Acres

      607 Main St

      COMMERCIAL (GENERAL) • 0.45 Acres
      607 Main St, Wilkes Barre, PA 18705-1704
      View Details
    • Value Estimation
      $900,000
      0.42 Acres

      220 Riv St

      COMMERCIAL (GENERAL) • 0.42 Acres
      220 Riv St, Plains, PA 18705-1137
      View Details
    • Value Estimation
      $550,000
      0.09 Acres

      23 Main St

      COMMERCIAL (GENERAL) • 0.09 Acres
      23 Main St, Wilkes Barre, PA 18705
      View Details
    • Value Estimation by Request
      0.71 Acres

      290 Adj S Riv Rd

      COMMERCIAL (GENERAL) • 0.71 Acres
      290 Adj S Riv Rd, Plains, PA 18705
      View Details

    Similar Nearby for Sale

    • 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
    • New
      $300,000
      Pending

      Land Available in Plains, PA

      Land for sale in Plains, Pennsylvania.
      589 N Main St, Plains, PA 18705
      View Details
    • $649,000
      15 SF

      Industrial Zoned Land For Sale

      15.52 acre industrial land parcel available for purchase.
      Pethick St, Plains, PA 18705
      View Details
    • $1,200,000

      Licensed Scrapyard with Garage

      Commercial property in Wilkes-Barre, PA, with garage.
      640 N Pennsylvania Ave, Wilkes Barre, PA 18705
      View Details
    • $485,000
      3,350 SF

      Turnkey Restaurant/Bar with Apartments

      Newly renovated restaurant/bar with apartments near Mohegan Sun Casino.
      20 School St, Wilkes Barre, PA 18705
      View Details
    • New
      $254,900
      2,650 SF

      Plains PA Multifamily Duplex

      Fully rented duplex in Plains, PA with updated kitchens.
      12 Hopkins St, Plains, PA 18705
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      1,000 SF

      Wilkes-Barre Commercial Space Available

      1,000 SF commercial space suitable for office or retail.
      220 S River St, Wilkes Barre, PA 18705
      View Details
    • $3 SF/Yr
      110,000 SF

      Warehouse/Distribution Space in Wilkes-Barre

      5,000 SF warehouse/distribution space with convenient highway access.
      Wilkes Barre, PA 18705
      View Details
    • Contact for pricing
      5,000 SF

      Commercial Retail Building on Route 315

      Commercial retail building with office, showroom, and storage areas.
      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
    • $12 SF/Yr
      110,000 SF

      Wilkes-Barre Office/Warehouse Complex

      Multi-tenant building, excellent location, 110,000 sqft
      1212 Scott St, Wilkes-Barre, PA 18705
      View Details
    • Contact for pricing
      115,000 SF

      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.
    72 George Ave
    Wilkes Barre, PA 18705-2512
    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

    Google sign-in failed. Please try again or use another login method.