201-906-4376
653-665 Carey Ave, Hanover Township, PA for Sale
Storefront Retail/Office - FOR SALE
1/16
null | Request Cap Rate

653-665 Carey Ave
Hanover Township, PA 18706


HIGHLIGHTS

  • Strong traffic counts
  • Fully leased retail property

OVERVIEW

As the exclusive agent, NAI James E. Hanson (“Broker”) is pleased to offer for sale a fee simple interest in 665 Carey Avenue, Wilkes Barre, PA (“The Property”). This 32,750 SF retail shopping center is strategically located along a major thoroughfare, just minutes from Routes 81, 11, and 309, as well as numerous retail and office complexes in Wilkes Barre’s Central Business District. Currently 100% occupied, the Property boasts a strong history of tenant retention and offers investors an opportunity to enhance NOI by bringing in-place below-market rents to market value. The Property has undergone significant capital improvements, including a new roof (2017), LED façade lighting (2022), new electrical service (2021) with 3-phase power, and a repaved and restriped parking lot. Situated in one of Eastern Pennsylvania’s most thriving and highly amenitized submarkets, the Property benefits from strong local demographics, ongoing residential development, and a dense retail presence. With a weighted average lease term of 5.4 years and a history of consistent 100% occupancy, the Property presents a compelling investment opportunity with stable cash flow and future upside potential. The current weighted average rental rate of $8.85 PSF further underscores its value proposition for investors seeking long-term growth.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

91

LAND DETAILS

LAND ACRES

1.72 AC

LAND SF

74,923 SF

ZONING

Commercial

APN/PARCEL ID

25-I9NW1-004-004-000,25-I9NW1-004-007-000

ASK ABOUT THIS PROPERTY

Darren LizzackNAI James E. Hanson, Inc.More Info
201-906-4376

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Darren LizzackNAI James E. Hanson, Inc.More Info
201-906-4376

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.