Downtown Mixed-Use Retail/Office With Upside 7 S Main St
60,000 SF 21% Leased Office Building Online Auction Sale Wilkes Barre, PA 18701


INVESTMENT HIGHLIGHTS
- This vibrant mixed-use facility provides exceptional office and 1st-floor retail spaces with a prime location at the heart of downtown Wilkes-Barre.
- The building is located in immediate proximity to Wilkes University and King's College, as well as other colleges and universities.
- Ground-floor retail space is a former Barnes & Noble, providing a large open floorplate for convenient retrofitting and renovation.
- Boasting wall-to-wall windows, the property comprises micro-suites and larger office spaces, and a cutting-edge technology workshop and media center.
- Just off Public Square, walking distance to popular restaurants, boutique shops, large employers, and local attractions.
- Placed within the cultural and economic center of Northeastern Pennsylvania, the property is supported by a 5-mile population of more than 120,000.
EXECUTIVE SUMMARY
The Innovation Center’s top-tier features and amenities help it stand out from similar properties in the area. Spanning 60,000 square feet across four floors including a finished lower level, the building was built in 1900 and completed a full renovation in 2004. The ground floor retail space includes a full floor plate complete with a large, mostly open floor plan, making the space ideal for easy retrofitting and renovation. The retail suite also contains four private offices, a conference room, and an elevator to dedicated storage space on the lower level. The lower level is home to the THINK center, a 6,000-square-foot technology workshop, and a multimedia center. This cutting-edge space provides local professionals, businesses, colleges, and universities access to shared workshops for research and development as well as private conference rooms for training and presentations. The second floor provides a collection of micro-suites ranging from 172 to 974 square feet, while the upper level has spaces ranging from 2,177 to 6,614 square feet. These versatile spaces make this the perfect solution for both new ventures and growing businesses looking for space in Northeastern Pennsylvania, empowering a new owner’s leasing efforts.
The Innovation Center enjoys an unparalleled location in downtown Wilkes-Barre that provides elevated vehicle and foot traffic, as well as proximity to the city’s most popular amenities and gathering places. The building sits just off Wilkes-Barre’s Public Square, a walkable plaza that serves as the venue for outdoor events throughout the year, from the weekly farmer’s market to the annual Fine Arts Fiesta. Locals and visitors flock to downtown to enjoy the area’s best shopping and dining experiences, providing the property with visibility to more than 5,500 vehicles each day. The location neighbors a Boscov’s Department Store and is within walking distance of top-rated restaurants, including The Burnt Norton, Franklin’s, Circles on the Square, Diamond City Vault Bar & Grill, and many more. A large student population resides in several nearby colleges and universities, providing a robust potential customer base to a new ground floor retail tenant and a strong workforce pipeline to office tenants.
The seat of Luzerne County and the cultural and economic center of Northeastern Pennsylvania, Wilkes-Barre is a charming city on the banks of the Susquehanna River. The area boasts a walk-to-everything lifestyle around the downtown area, where apartments, businesses, and public parks are all easily accessible on foot. Travel by car is equally convenient, with the city bounded by Interstate 81, as well as Highways 315 and 309.
Seize this rare chance to acquire a renovated mixed-use retail and office property with significant lease upside and an unbeatable location in the heart of downtown at 7 S Main Street, the Innovation Center at Wilkes-Barre.
Property tours are by appointment only. Please reach out to the Family Investments Realty team to learn more.
DATA ROOM Click Here to Access
- Operating and Financials
- Purchase Agreement
- Title and Insurance
MARKET ANALYTICS Click Here to Access
$99,999
Asset Value
$99,999
12 Month Sales Volume
9.9%
Market Cap Rate
9.9%
Market Sale Price/SF Change (YOY)
Market Sale Price per SF
Scranton - PA USA
Market Cap Rate
Scranton - PA USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
PROPERTY FACTS
AMENITIES
- Security System
- High Ceilings
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
14,500 + square foot retail space for lease at street level. Incredible exposure to South Main Street in Wilkes Barre, PA. Right next to Public Square! Open floor plan design makes for easy retrofitting and renovation. Central air and heating. Loading dock and freight elevator. Also available is another 14,500 + square feet on the lower level for additional space needs.
Multiple modern and private office spaces available for lease. Ranging from 172 square feet to 974 square feet. All utilities included. Some office space have lots of natural light. Two elevators. Security system and bright lighting throughout. Lease rates for the smallest spaces starting at $24 per square foot.
Multiple modern and private office spaces available for lease. Ranging from 2,177 square feet to 6,614 square feet. All utilities included. Some office space have lots of natural light. Two elevators. Security system and bright lighting throughout. Lease rates starting at $14 per square foot.
Space | Size | Space Use | Condition | Available |
Lower Level | 14,500 SF | Office | Partial Build-Out | Now |
1st Floor | 14,500 SF | Retail | Partial Build-Out | Now |
2nd Floor | 174-13,000 SF | Office | Full Build-Out | Now |
3rd Floor | 2,177-13,000 SF | Office | Full Build-Out | Now |
Lower Level
Size |
14,500 SF |
Space Use |
Office |
Condition |
Partial Build-Out |
Available |
Now |
1st Floor
Size |
14,500 SF |
Space Use |
Retail |
Condition |
Partial Build-Out |
Available |
Now |
2nd Floor
Size |
174-13,000 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
3rd Floor
Size |
2,177-13,000 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
DEMOGRAPHICS
Demographics
ZONING
Zoning Code | C-3 (Commercial Central District) |
PROPERTY TAXES
Parcel Number | 73-H9SE2-027-014-000 | Improvements Assessment | $1,145,800 |
Land Assessment | $254,200 | Total Assessment | $1,400,000 |
SALE ADVISOR
SALE ADVISOR

Jahan Tabatabaie, Broker/Owner
In addition to his management experience, he has directly partaken in 1031 exchange transactions multiple times successfully. When it comes to understanding expectations of Buyers and Sellers, Jahan is right there, comfortably with you.
Jahan is also active with local organizations including the Penn State Scranton Advisory Board, the Penn State Scranton Alumni Society Board, LIFE, The Institute for Public Policy and Economic Development, Greater Scranton Chamber of Commerce, the North Pocono Youth Soccer League, and the North Pocono Dandylion Little League. He was a long-time member of the Lackawanna County Workforce Development Board including as Chairman of the Procurement Committee, and has taught introductory microeconomics and macroeconomics as an adjunct faculty member for the University of Scranton and for Penn State Scranton.
His undergraduate degree is from The Pennsylvania State University where he was a Schreyer Honors Scholar majoring in Economics with a minor in Political Science. He then went to Columbia University earning his master’s degree in Economic Policy Management from the School of International and Public Affairs.
After spending some time in New York working with non-governmental organizations, he returned to Pennsylvania to pursue real estate full-time.
He is married to Leanna, and they have two spry, spunky kids.