Active Automotive Repair
For Sale
$425,000
991 Providence Road, Scranton, PA 18508
Operating auto repair shop with four bays in Scranton, PA.
Property Size3,082 SF
Lot Size0.62 Acres
Price / SF$137.90
Days on Market555
Property Features for 991 Providence Road
General Information
Standard status
Active
Size
3,082 SF
Lot size
0.62 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$7,470
Building Details
Year Built
1975
Listing Agency:
C21 Jack Ruddy Real Estate
(570) 561-6741
Listed By:
Sherri Hoban · License #RS347438
(570) 561-6741
Source:
Exitrealty
Added: Feb 3, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:26AM
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 C21 Jack Ruddy Real Estate
Investment Insights
Based on property information with market context.
This property at 991 Providence Rd, Scranton, PA 18508, is an active automotive repair shop. The property features four bays equipped with vehicle lifts. A parking lot provides ample space for vehicle storage. The property is situated on a high-visibility location on one of the busiest streets in town, near Scranton High School, Weston Park, and the downtown area. The property is suitable for expanding an existing automotive business or starting a new venture. The building size is 3,082 square feet.
Key Highlights
- Active automotive repair shop with 4 bays and vehicle lifts.
- Large parking lot suitable for numerous vehicles.
- High‑visibility location on a busy street.
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
$28,963
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
6.81%
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%
$579,260
$579.3K
Cap Rate 7%
$413,757
$413.8K
Cap Rate 9%
$321,811
$321.8K
Market Conditions
NOI Build-Up for 3,082 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
$46.2K $15.00/SF
− Vacancy
−$4.9K −$1.58/SF
EGI
$41.4K $13.43/SF
− OpEx
−$12.4K −$4.03/SF
NOI
$29.0K $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%
$579,260
Cap Rate 7%
$413,757
Cap Rate 9%
$321,811
Alternative Uses
Best Use
Retail
$413.8K
$362.0K – $482.7K
NOI $28,963 @ 7.0% cap · market cap 6.81%
Second Best
Industrial
$256.9K
$224.8K – $299.7K
NOI $17,983 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$782.3K
$684.5K – $912.7K
NOI $54,759 @ 7.0% cap · market cap 12.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
23k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 77%
Shops & Services 23%
Dunkin' Donuts
Dining
15,809 visits/mo
0.4 miles
Exxon
Shops & Services
5,140 visits/mo
0.4 miles
Domino's Pizza
Dining
1,789 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- A & N Auto Service — Scranton, PA 18508
- Fezuks Auto — 416 N Main Ave, Scranton, PA 18504
- Cantafio's Collison Center — 531 Gordon Ave, Scranton, PA 18508
- Fezuk's Garage — 416 n main ave, scranton, pa 18504
- OLIVE STREET AUTOMOTIVE SERVICE — 114 W Olive St, Scranton, PA 18508
Frequently Asked Questions
What type of property is this?
Auto shop - Operating auto repair shop with four bays in Scranton, PA.
Where is this auto shop located?
The property is located at 991 Providence Road Scranton, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Active automotive repair shop with **4 bays and vehicle lifts**.; Large parking lot suitable for numerous vehicles.; High‑visibility location on a busy street.
