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    329 Penn Ave Scranton, PA 18503

    Sponsored
    For Sale
    $2,199,000

    Luxury Apartments & Office Space, High Occupancy

    Property size:
    18,000 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional mixed-use property, located at 329-331 Penn Avenue in Scranton, Pennsylvania, presents a lucrative investment opportunity. The main building offers 18,000 square feet of space, currently divided into two floors of professional office space. Attached is a three-story building housing six luxury apartments, ensuring a diverse and stable income stream. The property boasts a total of 24 parking spaces, including a convenient two-car garage, significantly enhancing its appeal to tenants. Further adding to its value is an included parking lot, identified by tax ID #1458301003, providing ample parking for both residents and office workers. The property sits on a 0.16-acre lot. Both buildings feature a newly installed rubber roof, completed in 2017, ensuring long-term durability and reduced maintenance costs. Currently operating at 100% occupancy, this property offers immediate cash flow and significant potential for future appreciation. The asking price for this exceptional mixed-use investment is $2,199,000. This is a rare opportunity to acquire a fully occupied, well-maintained property in a desirable Scranton location. The combination of office space and luxury apartments provides a diversified revenue stream, making this an attractive investment for both seasoned and new investors. The ample parking further enhances the property's desirability and value.

    Property Features for 329 Penn Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    18,000 SF
    Lot Size
    6,970 SF

    Building Details

    Year Built
    1950
    Property Profile Location Intelligence

    Current Use by Public Records

    PathStone Corporation Training Centre Kapital Mortgage Lending ... Mortgage Broker Commercial Lending Scranton ... Mortgage Lender Family Enrichment Center Mental Health Service Osborne Law LLC Lawyer

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.66457
    Latitude
    41.41169

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    FAQs

    What type of property is this?
    Mixed-use property - Luxury Apartments & Office Space, High Occupancy
    Where is this mixed-use property located?
    The property is located at 329 Penn Ave Scranton, PA.
    What is the asking price?
    The asking price for this property is $2,199,000.
    (570) 585-4000
    Request Owner's contact information
    329 Penn Ave Scranton, PA 18503
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    Realmo Value Estimation

    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.

    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.

    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
    329 Penn Ave Scranton, PA 18503
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