Auto Shop Building with Four Garage
For Sale
$499,000
1323 N Main Avenue, Scranton, PA 18508
COMMERCIAL - Scranton, PA
Property Size4,050 SF
Lot Size0.35 Acres
Price / SF$123.21
Days on Market48
Property Features for 1323 N Main Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Parking features
Parking Lot, Garage
Lot features
Open Lot, Rectangular Lot
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Scranton expressway to Main Ave. Make a left. Building on the left.
Standard status
Active
APN
13420010002
Size
4,050 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
79X100x82x99x23x15 Bldg & Land W-02 B-0630 L-0010 P-00100
Tax Annual Amount
5610
Legal Description
79X100x82x99x23x15 Bldg & Land W-02 B-0630 L-0010 P-00100
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Oil
Water source
Public
Amenities
billboard
private offices
bathrooms
showroom
storage space
Building Details
Year built
1920
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Block, Brick
Roof type
Rolled Hot Mop
Listing Agency:
Keller Williams Real Estate-Clarks Summit · Keller Williams Realty
(570) 585-5800
Listed By:
Kelly Jacoby · License #RS344142
(570) 231-9996
Added: Jul 13
Changed: Aug 4
Last Checked: Aug 29 at 4:06AM
MLS# SC263359
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.
Investment Insights
Based on property information with market context.
This auto shop building on a 0.346-acre lot is currently operating as an automotive upholstery shop and used car dealership. The property offers 4,050 square feet of flexible interior space with four garage bays, including one bay currently used as additional office space. Inside, there are two private offices, two bathrooms, a spacious showroom, and ample storage.
For access and convenience, the location provides easy connectivity to I-81, I-476, and the Scranton Expressway. The property also includes side parking for customers, staff, and inventory, along with a garage and parking lot.
Constructed with block and brick materials, the building is served by public water and public sewer and features forced-air oil heat and a rolled hot mop roof. Additional onsite income is supported by a billboard on the property.
For access and convenience, the location provides easy connectivity to I-81, I-476, and the Scranton Expressway. The property also includes side parking for customers, staff, and inventory, along with a garage and parking lot.
Constructed with block and brick materials, the building is served by public water and public sewer and features forced-air oil heat and a rolled hot mop roof. Additional onsite income is supported by a billboard on the property.
Key Highlights
- 0.346‑acre auto shop property with 4,050 SF of flexible space
- Four garage bays, including one bay used as additional office space
- Zoned C2
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,060
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$761,200
$761.2K
Cap Rate 7%
$543,714
$543.7K
Cap Rate 9%
$422,889
$422.9K
Market Conditions
NOI Build-Up for 4,050 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$60.8K $15.00/SF
− Vacancy
−$6.4K −$1.58/SF
EGI
$54.4K $13.43/SF
− OpEx
−$16.3K −$4.03/SF
NOI
$38.1K $9.40/SF
Area
Lackawanna County, PA
Vacancy
10.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$761,200
Cap Rate 7%
$543,714
Cap Rate 9%
$422,889
Alternative Uses
Best Use
Retail
$543.7K
$475.8K – $634.3K
NOI $38,060 @ 7.0% cap · market cap 7.63%
Second Best
Industrial
$337.6K
$295.4K – $393.9K
NOI $23,631 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$1.03M
$899.5K – $1.20M
NOI $71,958 @ 7.0% cap · market cap 14.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
107k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Groceries 39%
Dining 18%
Electronics 2%
Giant Food Store
Groceries
35,719 visits/mo
0.4 miles
Dunkin' Donuts
Dining
15,809 visits/mo
0.1 miles
Dollar Tree
Shops & Services
13,511 visits/mo
0.5 miles
Family Dollar
Shops & Services
8,148 visits/mo
0.3 miles
Gulf Oil
Shops & Services
6,612 visits/mo
0.4 miles
Demographics for 18508, PA
11,664
Population
5,466
Households
2.1
Avg Household Size
40
Median Age
18%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
1,715
Density / Sq Mi
$44,706
Median Household Income
$31,055
Median Earnings
$1,034
Median Rent
$120,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kost Commercial Truck Tire Center — 816 Providence Rd, Scranton, PA 18508
- Zack's — 420 Gilligan St, Scranton, PA 18508
- Billets Truck Sales — 1103 Capouse Ave, Scranton, PA 18509
- Bob Thiel's Auto Body Shop Inc — 1018 Sanderson Ave, Scranton, PA 18509
- Thiel's Auto Sales & Services — 1018 Sanderson Ave, Scranton, PA 18509
Frequently Asked Questions
What type of property is this?
Auto shop - Zoned C2 and currently configured for automotive upholstery and used car sales with four garage bays and on-site offices.
Where is this auto shop located?
The property is located at 1323 N Main Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 0.346‑acre auto shop property with 4,050 SF of flexible space; Four garage bays, including one bay used as additional office space; Zoned C2
