Exclusive Investment Offering
1300 Old Plank Road • Mayfield, PA
Lackawanna County, Pennsylvania
Overview
The NEET Center is a rare multi-tenant institutional-grade commercial complex spanning 83,782 square feet across 7.5 acres in Mayfield, PA. Originally constructed as a premier educational and innovation campus, the property hosts seven established tenants including a major regional educational operator, a global automotive supplier, a national behavioral health provider, and multiple specialty professional service firms. With 21,579 square feet of leasable vacancy and embedded annual rent escalations, this property offers an exceptional value-add opportunity in one of Pennsylvania's fastest-growing economic corridors.
Site and Location
1300 Old Plank Road, Mayfield PA — adjacent to the Lackawanna River Heritage Trail, minutes from I-81.
Why Invest
Nationally, mixed-use commercial assets trade at 6.5%-8.5% cap rates (CBRE H2 2024). This property's stabilized yield of 9.69% represents a 120-300 basis point premium over national comps—exceptional risk-adjusted return.
25.8% of the building is vacant (21,579 SF). Leasing at market rate adds $399,212 in income and pushes cap rate from 5.26% to 9.69%, nearly doubling returns without capital improvements.
Seven tenants across education, behavioral health, automotive, federal government, and professional services. No single sector dominates the income stream, reducing portfolio risk.
At $107/SF, the asking price is estimated at 45-55% below replacement cost of $190-$240/SF for institutional-grade construction, creating a structural floor on downside risk.
Amazon, Chewy, Kolmar USA, and Premier Brands are driving a $25B+ investment wave into Lackawanna and Luzerne Counties.
Denso International carries 5% annual escalations. Multiple leases include renewal options, providing long-term income growth and an inflation hedge.
Tenancy
| Tenant | Annual Rent | Sq Ft | % Income | Notes |
|---|---|---|---|---|
| State Funded Educational Academy (Expansion) | $218,244 | 12,432 | 24.4% | Expansion space |
| State Funded Educational Academy | $429,510 | 36,900 | 47.9% | Anchor tenant |
| International Fortune 500 Company | $103,911 | 7,000 | 11.6% | 5% annual escalations |
| National Therapeutic Consultant | $73,855 | 3,500 | 8.2% | Two 5-year renewal options |
| Regional Medical Consulting | $26,400 | 1,100 | 2.9% | |
| National Medical Staffing Company | $22,742 | 1,271 | 2.5% | |
| National Healthcare Facility | $21,000 | 1,000 | 2.3% | |
| TOTAL OCCUPIED | $895,662 | 62,203 | 100% | 74.2% of total building |
| Available Vacancy | $399,212 | 21,579 | 25.8% | At $18.50/SF market rate |
Financials
Inside The NEET Center
Credit Quality
The NEET Center's tenant mix combines institutional-grade educational operators, a Fortune Global 500 automotive supplier, a nationally recognized behavioral health provider, and specialized professional services firms—creating a resilient, diversified income base.
Graham Academy, a Merakey-affiliated alternative education program, occupies 49,332 SF across two suite configurations. Merakey is a $600M+ national behavioral health and special education nonprofit operating in 12 states and serving 40,000+ individuals. Graham Academy's combined $647,754 in annual rent makes it the cornerstone of this investment's income stability.
Denso Corporation is a $48B+ Fortune Global 500 automotive components manufacturer operating in 35+ countries. The Mayfield office functions as a North American regional hub. With 5% annual rent escalations built into the lease, Denso provides both credit strength and contractual income growth.
Professional consulting firm with long-standing ties to the property. Contributes $26,400 annually to the income base.
Healthcare staffing agency serving the NEPA regional healthcare system. Adds $22,742 in annual revenue and supports the property's healthcare services cluster.
Mental health and behavioral wellness practice contributing $21,000 annually. Aligns with the property's established healthcare tenant cluster.
Financial Analysis
Operating Expenses
| Expense | Annual |
|---|---|
| Real Estate Taxes | $188,585 |
| Electric | $125,757 |
| Gas | $43,926 |
| Insurance | $30,148 |
| Snow Removal | $8,892 |
| Waste Disposal | $7,813 |
| Fire Safety / Sprinklers | $6,101 |
| Water | $9,648 |
| Sewer | $944 |
| Grounds Supplies | $12,314 |
| TOTAL EXPENSES | $434,128 |
Expense Breakdown by Category
NOI Summary
Market Context
Lackawanna County sits at the center of a once-in-a-generation economic expansion. Within 60 miles of New York City and Philadelphia via I-81 and I-84, the region has attracted more than $25 billion in new investment commitments, transforming from a post-industrial economy into one of the mid-Atlantic's most active logistics, manufacturing, and healthcare corridors.
Amazon is the region's largest private employer with multiple fulfillment and distribution facilities. Their presence has catalyzed a wave of supplier and service industry growth throughout Lackawanna County.
Chewy's regional fulfillment center brought over 1,000 direct jobs to the corridor. Their investment signals the region's growing appeal for e-commerce and last-mile logistics operations.
Kolmar's $60 million manufacturing expansion demonstrates the county's competitiveness in attracting high-value industrial tenants seeking skilled labor and logistics infrastructure.
Lackawanna County unemployment sits at approximately 4.1%, below the national average. A growing daytime professional population drives sustained demand for office, medical, and education space.
Physical Asset
The NEET Center sits adjacent to the Lackawanna River Heritage Trail, a 70-mile greenway designated as part of the National Heritage Area and managed jointly by the Delaware and Lehigh National Heritage Corridor and Lackawanna County.
The trail is a significant quality-of-life amenity for tenants and employees, providing walking, running, and cycling access throughout the Lackawanna Valley. This type of amenity has been shown to increase commercial tenant retention and command lease rate premiums in comparable suburban campus environments.
"A rare commercial campus with direct trail access -- amenities more commonly found in urban core Class A properties."
Opportunity
21,579 SF Available · $399,212 Additional Annual Income Potential · Move-In Ready
Four Available Suites
| Suite | SF | Est. Annual |
|---|---|---|
| Front Suite | 3,400 | $62,900 |
| Lab Space | 6,758 | $125,023 |
| Old Merakey Suite | 10,432 | $192,992 |
| Old Icon Space | 989 | $18,297 |
| TOTAL VACANCY | 21,579 | $399,212 |
Lease up all four vacant suites at the $18.50/SF market rate and a 5.26% current cap rate becomes a 9.69% stabilized cap rate — an extraordinary yield expansion available through straightforward leasing activity in one of Pennsylvania's most active commercial markets.
Flexibility
Zoned C-2 Heavy Commercial, the NEET Center carries one of the most permissive commercial designations in Lackawanna County. This provides buyers broad flexibility to continue multi-tenant operations, pivot to a specialized campus model, or pursue phased redevelopment -- all without rezoning risk.
The Property
Your Listing Agent
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Owner & Broker
Revolve Real Estate
2026 Best of Lackawanna County
#1 Commercial Real Estate Agent
As Seen on TV
Host of The American Dream
Kate Daye is the Owner and Broker of Revolve Real Estate, headquartered in Lackawanna County, Pennsylvania. With deep expertise in commercial investment sales, Kate has built a reputation as the region’s most trusted commercial real estate advisor — a distinction recognized by the 2026 Best of Lackawanna County award, presented by the Times Leader Media Group.
Kate specializes in complex commercial transactions, value-add investment properties, and institutional-grade assets across Northeastern Pennsylvania. She combines local market intelligence with national-caliber marketing, underwriting, and financial analysis to serve both regional and out-of-market investors seeking above-average returns in an undervalued corridor.
As Host of The American Dream television series, Kate brings a media-level platform to her listings — providing unmatched visibility for properties like the NEET Center among a national investor audience. Her clients benefit from polished storytelling, best-in-class digital presentation, and a highly curated network of decision-makers who recognize the long-term potential of Northeastern Pennsylvania.
Phone
(570) 903‑9633
kate@revolvepa.com
Web
www.revolvepa.com
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