The NEET Center: A Rare 95,000+ SF Commercial Investment Opportunity in Lackawanna County, PA

Commercial investors searching for scale, existing cash flow and meaningful upside rarely find all three within a single Northeastern Pennsylvania property. The NEET Center at 1300 Old Plank Road in Mayfield presents exactly that opportunity.

Situated on approximately 7.5 acres in Lackawanna County, this institutional-grade commercial campus contains more than 95,000 square feet and is offered for sale at $8,999,999. With seven established tenants, more than $1.1 million in current annual income and a clear path toward increased net operating income, The NEET Center stands out as one of the region’s most distinctive commercial real estate investment opportunities.

A Large-Scale, Income-Producing Commercial Campus

Originally designed as an educational and innovation campus, The NEET Center offers far more infrastructure and flexibility than a conventional office building.

The property includes specialized laboratories, a full-size auditorium, gymnasium, commercial greenhouse, cafeteria, classrooms, professional offices, multiple independent entrances and approximately 268 on-site parking spaces. These existing improvements create opportunities for continued educational use, healthcare operations, workforce training, research, professional offices, government agencies and other institutional users.

The campus is currently occupied by a diversified group of tenants representing education, behavioral health, automotive, medical and professional service industries. This range of uses provides multiple income streams while reducing reliance on a single business sector.

Strong Current Income With Significant Stabilization Upside

The NEET Center currently generates approximately $1,104,702 in annual income. After reported operating expenses of approximately $434,128, the property produces current net operating income of approximately $670,573.

Approximately 10,197 square feet remains available for lease. Based on projected rents of $21.50 per square foot, leasing the remaining space could add approximately $219,236 in annual income and increase stabilized NOI to approximately $889,809.

That represents nearly 33% potential growth over the property’s current NOI.

At the current asking price, the property offers an estimated current capitalization rate of approximately 7.5%, with a stabilized cap rate approaching 10% after the available space is leased. These projections are based on the listing’s stated income, expenses and market-rent assumptions and should be independently verified by prospective buyers.

An Attractive Price Per Square Foot

At an asking price of $8,999,999, The NEET Center is being offered at approximately $94.70 per square foot based on the stated 95,000-square-foot building size.

This pricing may be particularly compelling when considering the cost and complexity involved in reproducing a property with laboratories, educational facilities, an auditorium, a gymnasium, commercial food-service infrastructure and extensive parking.

Instead of beginning with raw land and navigating years of design, approvals and construction, a buyer can acquire a substantial operating campus with existing tenancy, specialized improvements and immediate income.

Established Tenancy and Embedded Rent Growth

The largest occupant is an educational academy leasing multiple portions of the campus. Combined, its spaces account for a significant portion of the property’s occupied area and rental income.

The property also includes an international automotive-related company, medical and therapeutic service providers, consulting businesses and staffing operations. Certain leases include renewal options and scheduled rental escalations, including a lease with 5% annual increases.

For commercial real estate investors, these contractual increases can provide a valuable hedge against inflation while producing organic income growth without requiring immediate physical expansion.

Flexible C-2 Heavy Commercial Zoning

The NEET Center is located in a C-2 Heavy Commercial zoning district, providing substantial flexibility for present and future ownership.

Potential uses identified in the listing materials include:

Medical and healthcare facilities
Educational institutions and training centers
Professional offices and coworking facilities
Research and development operations
Light industrial uses
Government and nonprofit agencies
Retail, hospitality and conference facilities

This flexibility may allow a buyer to continue operating the property as a diversified multi-tenant investment or gradually reposition portions of the campus for a more specialized use.

Potential Repositioning Opportunities

Beyond straightforward lease-up, The NEET Center offers several possible long-term repositioning strategies.

Medical or Behavioral Health Campus

The existing office configurations, specialized rooms, parking capacity and healthcare-related tenancy could support the creation of a larger medical, counseling or behavioral health campus.

Education and Workforce Training Center

With classrooms, laboratories, an auditorium, cafeteria and gymnasium already in place, the property is well suited for education, vocational training, corporate training or workforce-development programs.

Government or Nonprofit Campus

The building’s scale, parking and combination of large and small spaces may appeal to county, state or federal agencies seeking to consolidate operations in a single location.

Innovation, Research or Business Hub

The vacant laboratory and office areas could potentially support research, technology, small-business incubation or collaborative professional workspaces.

Any proposed use would remain subject to municipal approvals, building requirements and a buyer’s independent due diligence.

Strategic Mayfield, Pennsylvania Location

The NEET Center is located at 1300 Old Plank Road in Mayfield, within the Lackawanna County commercial corridor and minutes from Interstate 81.

Its location provides convenient access to Scranton, Dickson City, Carbondale and surrounding Northeastern Pennsylvania communities. The property is also adjacent to the Lackawanna River Heritage Trail, creating an uncommon quality-of-life amenity for employees, tenants and visitors.

Access to Interstate 81 connects the property to major regional routes serving Pennsylvania, New York and the broader Mid-Atlantic market.

Why Northeast Pennsylvania Continues to Attract Commercial Investors

Northeastern Pennsylvania has increasingly drawn attention from commercial real estate investors because of its strategic location, comparatively affordable property values and access to major transportation corridors.

Lackawanna and Luzerne Counties support growing healthcare, logistics, manufacturing, education and professional-service industries. The region’s proximity to larger metropolitan markets, combined with lower acquisition and operating costs, can create opportunities that are increasingly difficult to find in major urban areas.

The NEET Center allows an investor to enter this market with an established, large-scale asset rather than a speculative development project.

Who Should Consider The NEET Center?

This property may be particularly attractive to:

Commercial real estate investors seeking immediate income
Value-add investors pursuing lease-up opportunities
Institutional or regional investment groups
Healthcare and behavioral health operators
Educational organizations and vocational schools
Government agencies or nonprofit organizations
Owner-users requiring a large regional campus
Investors seeking commercial property in Lackawanna County

The combination of current income, existing tenants, specialized infrastructure and leasing upside makes the property suitable for several different acquisition strategies.

A Rare Commercial Real Estate Offering in Lackawanna County

Large commercial campuses with nearly 100,000 square feet, extensive parking, established tenancy and specialized institutional improvements are uncommon in Northeastern Pennsylvania.

The NEET Center offers the ability to acquire an operating commercial investment while retaining substantial future flexibility. A buyer can benefit from current cash flow, pursue the lease-up of the remaining available space and consider longer-term repositioning opportunities as market demand evolves.

Offered at $8,999,999, The NEET Center represents a noteworthy opportunity for investors, institutions and owner-users seeking commercial real estate for sale in Mayfield, Scranton or the greater Lackawanna County market.

Private showings and detailed financial information are available through Revolve Real Estate. Prospective purchasers should independently verify all square footage, occupancy, income, expenses, zoning, financing assumptions and future-use possibilities before making an investment decision.

 

For more information, see here: www.revolvepa.com/NEET