6-Bay Garage with Office and
For Sale
$639,000
18 Electric St, Scranton, PA 18509
Meticulously maintained 6-bay garage with a large office, dedicated retail space, break-room, and restroom.
Property Size4,000 SF
Price / SF$159.75
Days on Market49
Property Features for 18 Electric St
General Information
Standard status
Active
Size
4,000 SF
Building Details
Year Built
1970
Listing Agency:
COWLEY REAL ESTATE
Listed By:
Amy R Gearhart · License #RS272723
(570) 346-2404
Source:
Revolvepa
Added: Jul 26
Changed: Sep 8
Last Checked: Sep 11 at 4:09PM
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 COWLEY REAL ESTATE
Investment Insights
Based on property information with market context.
This meticulously maintained property features a 6-bay garage with a large office and a dedicated retail space. Interior improvements include a spacious break-room and restroom. The garage includes three doors sized 10' x 10', and three garage doors listed as 10' x 11', and it also includes one shed that remains with the real estate. The sale is for real estate only; business and business contents are not included, though the business contents may be negotiated separately.
Access is supported by a double driveway and a fully paved parking area with ample off-street parking. A second lot provides the parking area and driveway that comes off Nay Aug Ave. There is also a paved parking area included in the offering.
The property is zoned Highway Commercial and includes two lots.
Access is supported by a double driveway and a fully paved parking area with ample off-street parking. A second lot provides the parking area and driveway that comes off Nay Aug Ave. There is also a paved parking area included in the offering.
The property is zoned Highway Commercial and includes two lots.
Key Highlights
- 6‑bay garage with dedicated retail space and a large office
- Includes break‑room and restroom, designed for comfort and efficiency
- Double driveway with fully paved parking area for ample off‑street parking
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
$37,590
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
5.88%
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%
$751,800
$751.8K
Cap Rate 7%
$537,000
$537.0K
Cap Rate 9%
$417,667
$417.7K
Market Conditions
NOI Build-Up for 4,000 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
$60.0K $15.00/SF
− Vacancy
−$6.3K −$1.58/SF
EGI
$53.7K $13.43/SF
− OpEx
−$16.1K −$4.03/SF
NOI
$37.6K $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%
$751,800
Cap Rate 7%
$537,000
Cap Rate 9%
$417,667
Alternative Uses
Best Use
Retail
$537.0K
$469.9K – $626.5K
NOI $37,590 @ 7.0% cap · market cap 5.88%
Second Best
Industrial
$333.4K
$291.7K – $389.0K
NOI $23,339 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$1.02M
$888.4K – $1.18M
NOI $71,069 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
885
Businesses Nearby
107k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Groceries 38%
Dining 16%
Electronics 2%
Giant Food Store
Groceries
35,719 visits/mo
0.1 miles
Dunkin' Donuts
Dining
15,809 visits/mo
0.5 miles
Dollar Tree
Shops & Services
13,511 visits/mo
0.1 miles
Family Dollar
Shops & Services
8,148 visits/mo
0.2 miles
Gulf Oil
Shops & Services
6,612 visits/mo
0.3 miles
Demographics for 18509, PA
13,720
Population
6,017
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
3.0 sq mi
ZIP Area
4,573
Density / Sq Mi
$52,206
Median Household Income
$31,657
Median Earnings
$991
Median Rent
$176,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Auto shop - Meticulously maintained 6-bay garage with a large office, dedicated retail space, break-room, and restroom.
Where is this auto shop located?
The property is located at 18 Electric St Scranton, PA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: 6‑bay garage with dedicated retail space and a large office; Includes break‑room and restroom, designed for comfort and efficiency; Double driveway with fully paved parking area for ample off‑street parking
