Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1140-1142 Academy St Scranton, PA 18504

    Sponsored
    For Sale
    $360,000

    MULTI_FAMILY - Scranton, PA

    Property size:
    2,870 SF
    Lot size:
    0.08 Acres
    Days on Market:
    26
    Last Refresh:
    Jan 30 at 12:06 pm

    Property Features for 1140-1142 Academy St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R2
    Rooms
    Bedroom 5, Bedroom 3, Bathroom 3, Bedroom 6, Basement, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 4, Bedroom 4
    Bedrooms
    6
    Bathrooms
    4
    APN
    14517060052
    Basement
    Full
    Size
    2,870 SF
    Lot size
    0.08 Acres

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    3

    We can help!

    Listing Contact
    Thomas Meyer
    Thomas Meyer

    Berkshire Hathaway Home Services Preferred Properties (570) 585-1500

    Listing agent Thomas Meyer (570) 585-1500

    Listing date Jan 5, 2026

    MLS# SC260031 Listing URL

    Copyright © 2026 Greater Scranton Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Scranton Multifamily Investment Property

    This multifamily property in Scranton, PA, features three units with income potential. The property has been newly renovated and includes separate gas and electric meters. One unit is currently rented for $1750 plus utilities. This occupied unit features four bedrooms and two baths. The left side of the property contains two vacant one-bedroom units, both move-in ready and available for rent. The property includes three new gas furnaces, water heaters, floors, kitchens, bathrooms, and siding. Electrical, plumbing, and windows have been updated. The property is located on a lot of 0.08 acres and has a total size of 2870 square feet. The zoning is R2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.684327
    Latitude
    41.41109

    Nearby Similar for Sale

    • New
      $435,000
      Pending

      Green Ridge Duplex with Income

      Stately Green Ridge duplex, ideal for investors or owner-occupants.
      1936 N Washington Ave, Scranton, PA 18509
      View Details
    • $399,000
      Pending

      North Scranton Updated Four-Unit Building

      Well-maintained four-unit building in North Scranton with updated features.
      955-961 Providence Rd, Scranton, PA 18508
      View Details
    • $450,000
      4,234 SF

      Established Day Care Center For Sale

      Thriving day care center in Scranton's Keyser Valley area.
      2118 Washburn St, Scranton, PA 18504
      View Details
    • $699,000
      4,000 SF

      Turnkey Medical Office For Sale

      Fully functional medical office with equipment and parking available for sale.
      2603 Stafford Ave, Scranton, PA 18505
      View Details
    • $290,000
      Pending

      Well-Maintained Taylor Two-Family Home

      Two-family home in Taylor with rental income potential.
      1295 Reynolds Ave, Scranton, PA 18517
      View Details
    • $450,000
      3,171 SF

      Remodeled Two-Unit Home, Scranton

      Fully remodeled 2-unit home in Scranton's historic Hill section.
      342 Harrison Ave, Scranton, PA 18510
      View Details
    • $820,000
      9,000 SF

      Scranton Multifamily Investment Opportunity

      Seven-unit multifamily property near hospitals and schools in Scranton, PA.
      622 Jefferson Ave, Scranton, PA 18510
      View Details
    • $415,000
      Pending

      Throop Mixed-Use Commercial Building

      Commercial building with storefront and residential units in Throop.
      717 Center St, Scranton, PA 18512
      View Details
    • $272,000
      Pending

      Charming Two-Unit Investment Opportunity

      Two-unit property with spacious layouts and desirable amenities.
      2009-2011 Margaret Ave, Scranton, PA 18508
      View Details
    • $399,000
      3,542 SF

      Prime Commercial Space in Scranton

      Highway Commercial District property with income potential and flexible layout.
      381 N 9Th Ave, Scranton, PA 18504
      View Details
    • $689,000
      4,100 SF

      Turnkey Commercial Property with Apartments

      Versatile commercial property with salon, spa, and apartment units.
      1805 Sanderson Ave, Scranton, PA 18509
      View Details
    • $649,900
      3,724 SF

      Student Housing Investment Opportunity

      Fully rented duplex near University of Scranton, generating $5,700 monthly.
      430 Taylor Ave, Scranton, PA 18510
      View Details

    FAQs

    What type of property is this?
    Triplex - Newly renovated 3-unit property with income potential in Scranton, PA.
    Where is this triplex located?
    The property is located at 1140-1142 Academy St Scranton, PA.
    What is the asking price?
    The asking price for this property is $360,000.
    What are key features of this property?
    This property features: - Newly Renovated: Enjoy new kitchens, bathrooms, floors, siding, updated electrical, plumbing, and windows.; - Outstanding Income Potential: Benefit from three units offering diverse rental income streams.; - Separate Gas and Electric Meters: Simplifies utility management and billing for each unit.
    (570) 840-0152
    Request Owner's contact information
    1140-1142 Academy St Scranton, PA 18504
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1140-1142 Academy St
    Scranton, PA 18504
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1140-1142 Academy St Scranton, PA 18504
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Thomas Meyer
    Thomas Meyer
    Real Estate License ID: RS346125
    (570) 840-0152
    Learn more
    Google sign-in failed. Please try again or use another login method.