Mixed-Use Property with Auto
For Sale
$359,900
619 621 Mineral Avenue, Scranton, PA 18509
Commercial Sale, Scranton, PA
Property Size1,077 SF
Lot Size0.17 Acres
Price / SF$334.17
Days on Market96
Property Features for 619 621 Mineral Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-L
Parking
20
Parking features
Parking Lot, Off Street, Garage, Open
Security features
Security Lighting
Exterior features
Lighting, Storage, Smart Camera(s)/Recording, Rain Gutters
Lot features
Level, Paved
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From Capouse Avenue turn onto West Olive Street, go under bridge, pass Barrett Court take next right onto Mineral Street. Go one block to Silex St. Property will be on your left at corner.
Standard status
Active
APN
14516030009
Size
1,077 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
60X120 Bldg & Land W-07 B-0060 L-013A P-01800
Tax Annual Amount
4381
Legal Description
60X120 Bldg & Land W-07 B-0060 L-013A P-01800
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Pellet Stove, Wall Furnace, Natural Gas, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Amenities
Bishamon overhead automobile power lift
pellet stove
overhead garage heater
laundry
Building Details
Year built
1950
Floors in Building
1
Number of units
1
Flooring type
Linoleum, Concrete
Building materials
Block, Concrete, Vinyl Siding
Roof type
Shingle, Asphalt
Additional Structures
Storage
Listing Agency:
C21 Jack Ruddy Real Estate · Century 21 Real Estate
(570) 344-6724
Listed By:
James W Gilhooley · License #RS373019
(570) 780-0725
Added: Jun 17
Changed: Sep 12
Last Checked: Sep 20 at 7:06PM
MLS# SC262866
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 mixed-use property combines an automotive garage with two residential apartments on a 0.17-acre parcel. The garage includes an office, a full bathroom, an additional half bathroom, one service bay, a Bishamon overhead vehicle lift, forced-air heating, a pellet stove, and a separate aluminum garage with room for four automobiles. Off-street parking, storage, lighting, security cameras, and rain gutters are also provided.
The residential component includes two apartments: a 676-square-foot one-bedroom, one-bath unit with laundry and an eat-in kitchen, plus a 678-square-foot two-bedroom, one-bath unit with a laundry room and eat-in kitchen. The garage and both apartments are occupied by long-term tenants. The property is served by public water and public sewer and is zoned I-L.
The residential component includes two apartments: a 676-square-foot one-bedroom, one-bath unit with laundry and an eat-in kitchen, plus a 678-square-foot two-bedroom, one-bath unit with a laundry room and eat-in kitchen. The garage and both apartments are occupied by long-term tenants. The property is served by public water and public sewer and is zoned I-L.
Key Highlights
- Two occupied apartments measuring 676 SF and 678 SF
- Operating automotive garage with a Bishamon overhead automobile power lift
- Detached aluminum garage accommodates 4 automobiles
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
$10,905
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
3.03%
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%
$218,100
$218.1K
Cap Rate 7%
$155,786
$155.8K
Cap Rate 9%
$121,167
$121.2K
Market Conditions
NOI Build-Up for 1,077 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
$19.4K $18.00/SF
− Vacancy
−$1.9K −$1.80/SF
EGI
$17.4K $16.20/SF
− OpEx
−$6.5K −$6.07/SF
NOI
$10.9K $10.13/SF
Area
Lackawanna County, PA
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$218,100
Cap Rate 7%
$155,786
Cap Rate 9%
$121,167
Alternative Uses
Best Use
Mixed Use
$155.8K
$136.3K – $181.8K
NOI $10,905 @ 7.0% cap · market cap 3.03%
Second Best
Retail
$144.6K
$126.5K – $168.7K
NOI $10,121 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$273.4K
$239.2K – $318.9K
NOI $19,135 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Service bays
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,003
Businesses Nearby
Explore this area
Business Placement
Demographics for 18509, PA
13,720
Population
6,017
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
3.0 sq mi
ZIP Area
4,573
Density / Sq Mi
$52,206
Median Household Income
$31,657
Median Earnings
$991
Median Rent
$176,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased property combining an operating garage with two residential apartments and on-site parking.
Where is this mixed-use property located?
The property is located at 619 621 Mineral Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Two occupied apartments measuring 676 SF and 678 SF; Operating automotive garage with a Bishamon overhead automobile power lift; Detached aluminum garage accommodates 4 automobiles
