Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1017 Prescott Ave Scranton, PA 18510

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $549,000

    Commercial property with garage and apartments in Petersberg Corners.

    Property size:
    7,050 SF
    Lot size:
    0.27 Acres

    Property Features for 1017 Prescott Ave

    General Information

    Standard status
    Active
    Size
    7,050 SF
    Lot size
    0.27 Acres

    Building Details

    Year built
    1945

    We can help!

    Listing Contact
    Leah Gianacopoulos
    Leah Gianacopoulos
    Source: Exitrealty

    Listing Agency: ERA One Source Realty Listing Agent: Leah Gianacopoulos

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

    Learn more

    Overview

    Versatile Commercial Property in Petersberg

    Located in Petersberg Corners, this commercial real estate offers a versatile opportunity. The property includes a large garage space suitable for an art studio, warehouse, or storage. The front house contains two apartments, presenting rental income potential or a convenient living space. Both units provide rental income opportunities. The property can be used as a primary residence while managing a business in the rear garage space. The garage features large, easily accessible doors for convenient entry and exit of vehicles and large equipment. The property size is 7050 square feet. This property is suitable for expanding a business, starting a new venture, or securing rental income.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.6415405
    Latitude
    41.4114457

    Nearby Similar for Sale

    • New
      $549,000
      3,000 SF

      Medical Office at High-Traffic Corner

      3,000 SF medical office building with high visibility.
      397 N 9Th Ave, Scranton, PA 18504
      View Details
    • $425,000
      3,082 SF

      Turn-Key Automotive Facility For Sale

      Four-bay automotive facility on 0.62 acres in North Scranton.
      991 Providence Rd, Scranton, PA 18508
      View Details
    • $399,000
      3,288 SF

      Prime Scranton Commercial Space Available

      Highway Commercial District property with income potential and flexible layout.
      381 N 9Th Ave, Scranton, PA 18504
      View Details
    • $474,900
      7,000 SF

      Prime Scranton Development Opportunity

      Two-story building in downtown Scranton near upcoming tech center.
      515 Wyoming Ave, Scranton, PA 18509
      View Details
    • $750,000
      3,600 SF

      Thriving Vape Shop on Highway

      Full-service vape shop with high traffic location and parking.
      816 Scranton Carbondale Hwy, Scranton, PA 18519
      View Details
    • $650,000
      3,900 SF

      Scranton Commercial Building with Garage

      Meticulously maintained 6-bay garage with office and retail space.
      18 Electric St, Scranton, PA 18509
      View Details
    • $374,900
      3,542 SF

      Established Scranton Bar with Liquor License

      Well-known bar with liquor license, ideal location, and ample space.
      872 Providence Rd, Scranton, PA 18508
      View Details
    • $595,000
      6,547 SF

      Established Garage in Prime Location

      Well-equipped garage with lifts, compressors, and security systems included.
      800 Providence Rd, Scranton, PA 18508
      View Details
    • $450,000
      4,234 SF

      Established Day Care Center For Sale

      Thriving day care center in Scranton's Keyser Valley area.
      2118 Washburn St, Scranton, PA 18504
      View Details
    • New
      $470,000
      3,719 SF

      Four Units Plus Garage Scranton

      Four units and a garage on the same lot.
      1142 Academy St, Scranton, PA 18504
      View Details
    • New
      $349,000
      4,120 SF

      Scranton Multifamily Investment Opportunity

      Legal 4-unit multifamily home with great floor plan.
      825 Quincy Ave, Scranton, PA 18510
      View Details
    • $625,000
      2,900 SF

      Turnkey Restaurant with Rental Income

      Established pizza restaurant with rental income in Scranton, PA.
      530 Pittston Ave, Scranton, PA 18505
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Commercial property with garage and apartments in Petersberg Corners.
    Where is this mixed-use property located?
    The property is located at 1017 Prescott Ave 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: - Massive garage space suitable for art studio, warehouse, or storage.; - Two apartments in the front house provide rental income potential.; - Versatile property suitable for business expansion, new ventures, or rental income.
    (570) 947-9250
    Request Owner's contact information
    1017 Prescott Ave Scranton, PA 18510
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1017 Prescott Ave
    Scranton, PA 18510
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1017 Prescott Ave Scranton, PA 18510
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Leah Gianacopoulos
    Leah Gianacopoulos
    Real Estate License ID: RS325414
    (570) 947-9250 (570) 587-9999
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!