87 Wood StWilkes-Barre, PA 18702

Property Details for 87 Wood St

Lot size

0.21 AC

Property type

Retail properties

Property subtype

Bars

APN

73-H9SE4-015-018

APU

73H9SE4015018

Description

This exceptional opportunity presents the sale of a well-established neighborhood tavern and restaurant in Wilkes-Barre, Pennsylvania. Located at 87 Wood St, this business has thrived since 1994, boasting a loyal clientele and a strong team of long-term employees. The property includes a two-story building, totaling 4,420 square feet, situated on a 0.42-acre lot. The first floor is a fully operational tavern offering beer, liquor, and food service, featuring seating for approximately 59 patrons (29 bar stools and tables for 30). The tavern is equipped with extensive amenities, including 11 big-screen TVs, a pool table, foosball table, a 12-head tap system, walk-in cooler, multiple freezers, a safe, a camera system, commercial kitchen equipment (range, fryers, slicer), 11 smoke eaters, and a ceiling-mounted surround sound system. The second floor, currently used for storage, is a finished 2-bedroom apartment. The sale includes all trade fixtures, tavern amusements, and two on-site storage trailers containing additional amusement machines and parts (trailers and contents are included in the sale, or can be removed prior to closing). The property is zoned R-2 and comes with a restaurant liquor license, including permits for amusements and Sunday sales. This owner-user investment opportunity is priced at $550,000. Built in 1930, this property offers a unique blend of established business and real estate potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,075,631

  6.5%

  $1,915,967

  7%

  $1,779,112

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,767,690

  Geo Method

  $3,012,100

• Alternative Use

  Use

  Valuation

  Residential

  $1,616,190

  Hospitality

  $1,480,421

  Educational

  $1,231,693

  Medical

  $1,274,053

  Retail

  $1,915,967

Location Insight

City

Wilkes Barre

County

Luzerne

State

Pennsylvania

Latitude

41.238

Longitude

-75.9018

CBSA code

42540

CBSA name

SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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