Two-Unit Storefront
For Sale
$385,000
232 N Main Avenue, Scranton, PA 18504
Commercial Sale, Scranton, PA
Property Size2,820 SF
Lot Size0.23 Acres
Price / SF$136.52
Days on Market131
Property Features for 232 N Main Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C1
Parking features
Off Street
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From Lackawanna Ave, take N Main Ave heading south to property on left (Sign)
Standard status
Active
APN
14518030052
Size
2,820 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7625
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1955
Floors in Building
1
Number of units
2
Flooring type
Concrete
Listing Agency:
NASSER REAL ESTATE, INC.
(570) 342-4115
Listed By:
Jim Nasser · License #AB065869
(570) 309-8799
Added: Apr 28
Changed: Aug 19
Last Checked: Sep 5 at 5:06AM
MLS# SC261816
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.
Located at 232 N Main Avenue in Scranton, this 2,820-square-foot storefront property is arranged as two separate units. The layout can be converted into a single commercial space, providing flexibility for different operating configurations. Concrete flooring is installed throughout, and the property was built in 1955.
The 0.23-acre site includes an adjacent lot and off-street parking. Public water and public sewer serve the property. C1 zoning supports its commercial positioning, while the Main Avenue address places the building within the established Scranton street network.
The 0.23-acre site includes an adjacent lot and off-street parking. Public water and public sewer serve the property. C1 zoning supports its commercial positioning, while the Main Avenue address places the building within the established Scranton street network.
Key Highlights
- 2,820 square feet arranged as two units
- Layout can be opened into one commercial space
- 0.23‑acre parcel with adjacent lot
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
$26,501
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
6.88%
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%
$530,020
$530.0K
Cap Rate 7%
$378,586
$378.6K
Cap Rate 9%
$294,456
$294.5K
Market Conditions
NOI Build-Up for 2,820 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
$42.3K $15.00/SF
− Vacancy
−$4.4K −$1.58/SF
EGI
$37.9K $13.43/SF
− OpEx
−$11.4K −$4.03/SF
NOI
$26.5K $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%
$530,020
Cap Rate 7%
$378,586
Cap Rate 9%
$294,456
Alternative Uses
Best Use
Retail
$378.6K
$331.3K – $441.7K
NOI $26,501 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$715.8K
$626.3K – $835.1K
NOI $50,104 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
121k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Groceries 11%
Dining 10%
Sheetz
Shops & Services
45,486 visits/mo
0.3 miles
Redner's Warehouse Market
Groceries
13,807 visits/mo
0.4 miles
Arby's
Dining
12,055 visits/mo
0.3 miles
Sunoco
Shops & Services
7,406 visits/mo
0.4 miles
Sunoco
Shops & Services
6,009 visits/mo
0.2 miles
Demographics for 18504, PA
21,267
Population
10,017
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
10.2 sq mi
ZIP Area
2,085
Density / Sq Mi
$52,542
Median Household Income
$38,439
Median Earnings
$970
Median Rent
$144,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - C1-zoned commercial space offers off-street parking and a flexible interior configuration.
Where is this storefront property located?
The property is located at 232 N Main Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 2,820 square feet arranged as two units; Layout can be opened into one commercial space; 0.23‑acre parcel with adjacent lot
