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

    Hanover Vlg Wilkes Barre, PA 18706

    • Apartment buildings
    • 14.44 lot acres
    OFF-MARKET
    Last Sale
    May 11, 2020
    $15,700,000
    Value Estimations
    $15,285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-3608126
    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

    • Apartment buildings

    Property Details for Hanover Vlg

    Lot size
    14.44 lot acres
    Property type
    Apartment buildings
    APN
    25-I9-00A-05C
    APU
    25I900A05C

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $20,330,000
      ML approach
      $9,400,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilkes Barre
    County
    Luzerne
    State
    Pennsylvania
    Longitude
    -75.9077
    Latitude
    41.2281
    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
    $176,931
    $433,200
    $5,343,500
    $5,776,700
    -
    $433,200
    $5,343,500
    $5,776,700

    Comparable in this City

    • Value Estimation by Request
      0.12 Acres

      54 Oxford St

      APARTMENT HOUSE (5+ UNITS) • 0.12 Acres
      54 Oxford St, Wilkes Barre, PA 18706
      View Details
    • Value Estimation by Request
      0.09 Acres

      221 Boland Ave

      APARTMENT HOUSE (5+ UNITS) • 0.09 Acres
      221 Boland Ave, Hanover Township, PA 18706-3232
      View Details
    • Value Estimation by Request
      0.18 Acres

      56 Lee Park Ave

      APARTMENT HOUSE (5+ UNITS) • 0.18 Acres
      56 Lee Park Ave, Wilkes Barre, PA 18706
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    • Value Estimation by Request
      0.09 Acres

      673 Main St

      APARTMENT HOUSE (5+ UNITS) • 0.09 Acres
      673 Main St, Sugar Notch, PA 18706-2133
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    • Value Estimation by Request
      0.09 Acres

      66 Ross St

      APARTMENT HOUSE (5+ UNITS) • 0.09 Acres
      66 Ross St, Wilkes Barre, PA 18706
      View Details
    • Value Estimation by Request
      0.12 Acres

      88 90th N Main St

      APARTMENT HOUSE (5+ UNITS) • 0.12 Acres
      88 90th N Main St, Ashley, PA 18706
      View Details

    Similar Nearby for Sale

    • $170,000
      Pending

      Five-Unit Multifamily Property in Wilkes-Barre

      Large five-unit multifamily property for sale in Wilkes-Barre, Pennsylvania.
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    • $375,000
      15,775 SF

      Historic Schoolhouse Redevelopment Opportunity

      Historic 1892 schoolhouse ready for visionary redevelopment.
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    • $350,000
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      Hanover Township Multifamily Investment Property

      Four-unit property with potential for workspace or small business.
      203-201 Laurel St, Hanover Township, PA 18706
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    • $180,000
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      Four-Unit Multifamily Investment Opportunity

      Four-unit property with detached garage and off-street parking.
      576-578 Main St, Hanover Twp, PA 18706
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    • $91,000
      10.13 Acres

      Hanover Township Land - 10 Acres

      10+ acres, residential zoning potential. Ideal for recreation.
      0 Tomko Ave, Hanover, PA 18706
      View Details
    • $139,200
      34.03 Acres

      Hanover Township Land - 34 Acres

      Undeveloped acreage, ideal for recreation. Financing available.
      0 Tomko Ave, Hanover, PA 18706
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      36,968 SF

      Hanover Mall: Wilkes-Barre Retail Center

      Grocery-anchored retail center; multiple spaces available.
      2261 Sans Souci Pkwy, Wilkes-Barre, PA 18706
      View Details
    • Contact for pricing
      10,000 SF

      Versatile Strip Center For Lease

      10,000 SF strip center in a high-traffic commercial area.
      734 Sans Souci Pkwy, Wilkes Barre, PA 18706
      View Details
    • $8 SF/Yr
      136,500 SF

      Prime Industrial Space Available

      136,500 SF Flex/Manufacturing Space
      0 Undefined Pa, Wilkes-Barre, PA 18706
      View Details
    • Contact for pricing
      93,955 SF

      Rail-Available Space in Hanover Township

      93,955 SF industrial space with rail access for lease.
      300 Lasley Ave, Hanover Township, PA 18706
      View Details
    • $2,500 /Mo
      1,526 SF

      Hanover Township Retail Space Available

      Retail space with high visibility near industrial park and school.
      52 W St Rd Mary's, Hanover Township, PA 18706
      View Details
    • Contact for pricing
      132,566 SF

      Food Grade Distribution Center

      110,000± SF food grade distribution center for lease.
      625 New Commerce Blvd, Wilkes Barre, PA 18706
      View Details
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    Wilkes Barre, PA 18706
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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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