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116 Franklin Ave Scranton, PA 18503

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Pending
$219,900

Mixed-use building near Lackawanna Avenue, prime investment opportunity.

Property size:
4,044 SF
Lot size:
0.07 Acres

Property Features for 116 Franklin Ave

General Information

Standard status
Pending
Size
4,044 SF
Lot size
0.07 Acres

Building Details

Year built
1920

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Listing Contact
Kyle Savage
Source: Exitrealty

Listing Agency: Christian Saunders Real Estate Listing Agent: Kyle Savage

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Mixed-Use Building in Downtown Scranton

This mixed-use building, encompassing over 4,000 square feet, is situated just off Lackawanna Avenue in downtown Scranton. The property is surrounded by businesses and restaurants, benefiting from ongoing revitalization efforts. The location is near The University of Scranton, medical centers, and transportation hubs. The property is suitable for retail, office spaces, apartments, or short-term rentals. The area is experiencing high occupancy rates with rising rental demand and property values. The building's location in a Federal Opportunity Zone makes it a strategic investment. Scranton is anticipating the arrival of high-speed rail service connecting the city to New York City. Federal approval was granted in early 2025 for this project, which will reestablish passenger rail service with three daily round trips. Trains will reach speeds of up to 110 mph, connecting Scranton to Morristown, Newark, and New York Penn Station. This transportation upgrade is expected to increase property values and attract new businesses, enhancing Scranton's appeal as an investment location. Increased demand for housing, office space, and retail is expected with the future arrival of high-speed rail.
Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

Location Insight

  • Map
  • Local Demand
City
Scranton
County
Lackawanna
State
Pennsylvania
Longitude
-75.668055
Latitude
41.4095256

FAQs

What type of property is this?
Mixed-use property - Mixed-use building near Lackawanna Avenue, prime investment opportunity.
Where is this mixed-use property located?
The property is located at 116 Franklin Ave Scranton, PA.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: - Prime downtown Scranton location near Lackawanna Avenue, surrounded by thriving businesses and restaurants.; - High-income potential due to increasing demand for commercial and residential spaces.; - Anticipated high-speed rail service connecting Scranton to New York City, expected to increase property values.
More about this property
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