Four-Bay Auto
New
For Sale
$275,000
1117 N Main Ave, Scranton, PA 18508
Commercial property with office space, heated garage area, and rear land for parking or storage.
Property Size2,688 SF
Price / SF$102.31
Days on Market3
Property Features for 1117 N Main Ave
General Information
Standard status
Active
Size
2,688 SF
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Office Build-Out
900 SF
Drive-In Doors
4
Additional Details
Service Bays
4
Amenities
Natural gas forced air heat
Newer roof
Building Details
Year Built
1965
Listing Agency:
NASSER REAL ESTATE, INC.
Listed By:
Jim Nasser · License #AB065869
(570) 309-8799
Source:
Revolvepa
Added: Sep 12
Last Checked: Sep 14 at 4:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NASSER REAL ESTATE, INC.
Investment Insights
Based on property information with market context.
This auto shop property combines approximately 1,700 square feet of garage area with approximately 900 square feet of office space. Four garage bays support vehicle-related operations, while natural gas service connects to forced-air blowers for heat. The property also includes rear land that can be used for parking or storage, along with a newer roof.
Located at 1117 N Main Ave in Scranton, Pennsylvania, the property fronts Main Ave in a high-traffic setting. Constructed in 1965, the building contains approximately 2,688 square feet overall and offers a combination of service, administrative, and exterior storage or parking components.
Located at 1117 N Main Ave in Scranton, Pennsylvania, the property fronts Main Ave in a high-traffic setting. Constructed in 1965, the building contains approximately 2,688 square feet overall and offers a combination of service, administrative, and exterior storage or parking components.
Key Highlights
- Four garage bays for automotive service operations
- Approximately 1,700 SF of garage space
- Approximately 900 SF of office space
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
$25,260
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
9.19%
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%
$505,200
$505.2K
Cap Rate 7%
$360,857
$360.9K
Cap Rate 9%
$280,667
$280.7K
Market Conditions
NOI Build-Up for 2,688 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
$40.3K $15.00/SF
− Vacancy
−$4.2K −$1.58/SF
EGI
$36.1K $13.43/SF
− OpEx
−$10.8K −$4.03/SF
NOI
$25.3K $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%
$505,200
Cap Rate 7%
$360,857
Cap Rate 9%
$280,667
Alternative Uses
Best Use
Retail
$360.9K
$315.8K – $421.0K
NOI $25,260 @ 7.0% cap · market cap 9.19%
Second Best
Industrial
$224.1K
$196.1K – $261.4K
NOI $15,684 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$682.3K
$597.0K – $796.0K
NOI $47,758 @ 7.0% cap · market cap 17.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Drive-in doors
4
Service bays
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Auto shop - Commercial property with office space, heated garage area, and rear land for parking or storage.
Where is this auto shop located?
The property is located at 1117 N Main Ave Scranton, PA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Four garage bays for automotive service operations; Approximately 1,700 SF of garage space; Approximately 900 SF of office space
