Mixed-Use Property with
For Sale
$549,000
1017 Prescott Avenue, Scranton, PA 18510
Residential Income, Scranton, PA
Property Size7,050 SF
Lot Size0.27 Acres
Price / SF$77.87
Days on Market736
Property Features for 1017 Prescott Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Off Street, On Street
Exterior features
Private Yard, Rain Gutters
Basement
Unfinished
Lot features
Level
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Petersburg corners, Ash Street and Prescott, building at 1017 Prescott
Standard status
Active
APN
14618060027
Size
7,050 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2024
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1945
Floors in Building
2
Number of units
3
Flooring type
Carpet, Tile
Building materials
Stucco
Roof type
Composition
Architectural style
Other
Listing Agency:
ERA One Source Realty · ERA Real Estate
(570) 587-9999
Listed By:
Leah Gianacopoulos · License #RS325414
(570) 947-9250
Added: Aug 27, 2024
Changed: Aug 19
Last Checked: Sep 1 at 1:06PM
MLS# SC4496
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 a front house with two apartments and a substantial rear garage area. The garage has large doors designed for convenient movement of vehicles and equipment, with the space identified for potential studio, warehouse, or storage use. Apartment areas include bedrooms, bathrooms, and a basement.
The property contains 7,050 square feet on 0.27 acres and carries C2 zoning. Built in 1945, it has stucco construction, composition roofing, forced-air natural-gas heat, public water, and public sewer. Parking is available both off street and on street. The property is located in Scranton, Pennsylvania, in the 18510 postal area.
The property contains 7,050 square feet on 0.27 acres and carries C2 zoning. Built in 1945, it has stucco construction, composition roofing, forced-air natural-gas heat, public water, and public sewer. Parking is available both off street and on street. The property is located in Scranton, Pennsylvania, in the 18510 postal area.
Key Highlights
- 7,050‑square‑foot mixed‑use property on 0.27 acres
- C2 zoning
- Front house includes two apartments
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
$49,951
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
9.10%
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%
$999,020
$999.0K
Cap Rate 7%
$713,586
$713.6K
Cap Rate 9%
$555,011
$555.0K
Market Conditions
NOI Build-Up for 7,050 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
$62.3K $8.83/SF
− Vacancy
−$3.5K −$0.49/SF
EGI
$58.8K $8.34/SF
− OpEx
−$8.8K −$1.25/SF
NOI
$50.0K $7.09/SF
Area
Lackawanna County, PA
Vacancy
5.60%
Lease Rate
$8.83 /SF/Yr
Expense Ratio
15.00%
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%
$999,020
Cap Rate 7%
$713,586
Cap Rate 9%
$555,011
Alternative Uses
Best Use
Mixed Use
$1.02M
$892.3K – $1.19M
NOI $71,381 @ 7.0% cap · market cap 13.00%
Second Best
Multifamily LT 5
$830.6K
$726.7K – $969.0K
NOI $58,139 @ 7.0% cap · market cap 10.59%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,259 @ 7.0% cap · market cap 22.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
871
Businesses Nearby
Explore this area
Business Placement
Demographics for 18510, PA
14,110
Population
5,824
Households
2.4
Avg Household Size
31
Median Age
28%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
7,839
Density / Sq Mi
$52,500
Median Household Income
$25,282
Median Earnings
$1,040
Median Rent
$178,000
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two apartments accompany a sizable rear garage with vehicle-accessible doors and C2 zoning.
Where is this mixed-use property located?
The property is located at 1017 Prescott Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 7,050‑square‑foot mixed‑use property on 0.27 acres; C2 zoning; Front house includes two apartments
