Add Listing
    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

    1142 Academy St Scranton, PA 18504

    View on Map
    Sponsored
    For Sale
    $470,000

    MULTI_FAMILY - Scranton, PA

    Property size:
    3,719 SF
    Lot size:
    0.13 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 11 at 12:06 pm

    Property Features for 1142 Academy St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R2
    Rooms
    Bedroom 1, Bedroom 8, Bedroom 4, Bathroom 1, Bathroom 5, Bedroom 7, Basement, Bathroom 4, Bedroom 5, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 9
    Bedrooms
    9
    Bathrooms
    5
    APN
    14517060052
    Basement
    Unfinished
    Size
    3,719 SF
    Lot size
    0.13 Acres

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    4

    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 Mar 11, 2026

    MLS# SC260919 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

    Four Units Plus Garage Scranton

    This property features two buildings with a total of four units and a detached garage, all situated on the same lot in Central Scranton. The property includes a large three-unit building on Academy Street and a single-family, three-bedroom home on Rachel Place. The units have been recently renovated and are equipped with separate gas heat and electric meters. The left side of the building has two vacant one-bedroom units ready for rental. The right side contains one four-bedroom unit with two bathrooms, which is currently rented. The property includes three new gas furnaces with forced air heat, new water heaters, floors, kitchens, bathrooms, and siding. Updated electrical, plumbing, and windows are present throughout. The lot size is 0.13 acres, and the property size is 3719 square feet. The zoning is R2. The property offers outstanding income potential, with the option to live in the three-bedroom home with a garage or rent all four units and the garage.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.684339
    Latitude
    41.411093

    Nearby Similar for Sale

    • New
      $750,000
      3,600 SF

      Thriving Vape Shop on Highway

      Full-service vape shop with high traffic location and parking.
      816 Scranton Carbondale Hwy, Scranton, PA 18519
      View Details
    • $425,000
      3,082 SF

      Turn-Key Automotive Facility For Sale

      Four-bay automotive facility on 0.62 acres in North Scranton.
      991 Providence Rd, Scranton, PA 18508
      View Details
    • $549,000
      3,000 SF

      Medical Office at High-Traffic Corner

      3,000 SF medical office building with high visibility.
      397 N 9Th Ave, Scranton, PA 18504
      View Details
    • New
      $650,000
      3,900 SF

      Scranton Commercial Building with Garage

      Meticulously maintained 6-bay garage with office and retail space.
      18 Electric St, Scranton, PA 18509
      View Details
    • $399,000
      3,288 SF

      Prime Scranton Commercial Space Available

      Highway Commercial District property with income potential and flexible layout.
      381 N 9Th Ave, Scranton, PA 18504
      View Details
    • $329,500
      3,150 SF

      Turn-Key Restaurant Opportunity in Scranton

      Established Indian restaurant for sale with real estate and clientele.
      901 Capouse Ave, Scranton, PA 18509
      View Details
    • $345,000
      6,000 SF

      Interconnected Commercial Buildings in Scranton

      Two interconnected commercial buildings with flexible layouts in Scranton, Pennsylvania.
      8-12 W Olive St, Scranton, PA 18508
      View Details
    • $474,900
      7,000 SF

      Prime Scranton Development Opportunity

      Two-story building in downtown Scranton near upcoming tech center.
      515 Wyoming Ave, Scranton, PA 18509
      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
    • $129,900
      1,508 SF

      Versatile Commercial Space in Scranton

      Adaptable commercial space suitable for various business ventures.
      1849 Bloom Ave, Scranton, PA 18508
      View Details
    • $595,000
      6,547 SF

      Established Garage in Prime Location

      Well-equipped garage with lifts, compressors, and security systems included.
      800 Providence Rd, Scranton, PA 18508
      View Details
    • $279,900
      1,800 SF

      Retail Building with Greenhouses

      Commercial building with retail space, office, and greenhouses.
      1010 W Lacka Ave, Scranton, PA 18504
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Four units and a garage on the same lot.
    Where is this multifamily property located?
    The property is located at 1142 Academy St Scranton, PA.
    What is the asking price?
    The asking price for this property is $470,000.
    What are key features of this property?
    This property features: - Four units (3 in one building, 1 single-family home) and a garage on one lot offer significant income potential.; - Two vacant 1-bedroom units are ready to rent immediately.; - All units have been newly renovated with updated kitchens, bathrooms, floors, and siding.
    (570) 840-0152
    Request Owner's contact information
    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.
    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
    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 (570) 793-5284 (570) 585-1500
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!