1 Broad StNanticoke, PA 18634

  • Mixed-use properties
  • 0.13 AC
For Sale
$609,000 View listing

Property Details for 1 Broad St

Lot size
0.13 AC
Property type
Mixed-use properties
Property subtype
Other investment properties
APN
42-J7SE1-017-010
APU
42J7SE1017010

Description

This well-maintained seven-unit apartment building is ideally situated in the heart of Nanticoke, Pennsylvania, at 1 West Broad Street, zip code 18634. Offered at $609,000, this multifamily property boasts a strong net operating income (NOI) of $43,363. The unit mix includes three one-bedroom units, two two-bedroom units, one studio apartment, and one commercial space, providing diverse income streams. Each tenant is responsible for their own utilities, minimizing landlord expenses. Currently, the leases are below market value, presenting a significant opportunity for increased profitability through future rent adjustments. The property's prime location offers convenient access to Luzerne Community College, Hanover Industrial Park, and the Chewy/Adidas Fulfillment Center, ensuring a consistent demand for rental units. This presents a compelling investment opportunity with significant upside potential. The price per unit is $87,000. This property is a turnkey investment ready for a new owner.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $874,084
    6.5%
    $806,847
    7%
    $749,215
  • Comparable approach

    Method
    Valuation
    Relative Method
    $434,236
    Geo Method
    $739,928
  • Alternative Use

    Use
    Valuation
    Residential
    $1,000,490
    Hospitality
    $916,444
    Educational
    $762,470
    Medical
    $788,693
    Retail
    $1,186,065
1 Broad St, Nanticoke, Pennsylvania

Location Insight

City
Nanticoke
County
Luzerne
State
Pennsylvania
Latitude
41.2023
Longitude
-76.0035
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
$2,580
$18,900
$80,000
$98,900
-
$18,900
$80,000
$98,900

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