Restaurant and Bar with
For Sale
$950,000
1392 N Washington Ave, Scranton, PA 18509
Fully equipped operation includes furniture, fixtures, equipment, and a liquor license.
Property Size3,999 SF
Price / SF$237.56
Days on Market111
Property Features for 1392 N Washington Ave
General Information
Standard status
Active
Size
3,999 SF
Restaurant
Seating Capacity
109
Patio
Yes
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$13,134
Listing Agency:
Keller Williams Real Estate-Clarks Summit
(570) 588-8030
Listed By:
The Bill Chupko Team · License #RS336156
(570) 588-8030
Source:
Exprealty
Added: Apr 23
Changed: Aug 2
Last Checked: Aug 11 at 10:59AM
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 Keller Williams Real Estate-Clarks Summit
Investment Insights
Based on property information with market context.
This 3,999-square-foot restaurant and bar combines a classic wood-finished interior with dining, bar, patio, and porch seating. The property accommodates 109 guests, including 42 restaurant seats, 19 bar seats, 32 patio seats, and 16 porch seats. A heated wrap-around porch extends the usable dining area, while 21 taps, a dedicated keg room, and staff workspace support food and beverage service.
The building occupies a prominent corner lot at 1392 N Washington Ave in Scranton, near local universities. The sale includes furniture, fixtures, equipment, and the liquor license. A second-floor apartment and third-floor space are also part of the property, providing additional onsite components beyond the main restaurant operation. The business was established in 1912.
The building occupies a prominent corner lot at 1392 N Washington Ave in Scranton, near local universities. The sale includes furniture, fixtures, equipment, and the liquor license. A second-floor apartment and third-floor space are also part of the property, providing additional onsite components beyond the main restaurant operation. The business was established in 1912.
Key Highlights
- 3,999 SF restaurant and bar property
- 109 total seats: 42 restaurant, 19 bar, 32 patio, and 16 porch
- Heated wrap‑around porch for year‑round outdoor seating
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
$43,099
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
4.54%
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%
$861,980
$862.0K
Cap Rate 7%
$615,700
$615.7K
Cap Rate 9%
$478,878
$478.9K
Market Conditions
NOI Build-Up for 3,999 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
−$2.5K −$0.63/SF
EGI
$57.5K $14.37/SF
− OpEx
−$14.4K −$3.59/SF
NOI
$43.1K $10.78/SF
Area
Lackawanna County, PA
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$861,980
Cap Rate 7%
$615,700
Cap Rate 9%
$478,878
Alternative Uses
Best Use
Specialty Retail
$615.7K
$538.7K – $718.3K
NOI $43,099 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$888.1K – $1.18M
NOI $71,051 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
3,200
Businesses Nearby
92k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 33%
Groceries 15%
Home Improvements & Furnishings 1%
Krispy Kreme Doughnuts
Dining
25,187 visits/mo
0.5 miles
Dunkin' Donuts
Dining
21,885 visits/mo
0.3 miles
Redner's Warehouse Market
Groceries
13,807 visits/mo
0.4 miles
Exxon
Shops & Services
8,696 visits/mo
0.3 miles
PNC Bank
Shops & Services
7,362 visits/mo
0.2 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully equipped operation includes furniture, fixtures, equipment, and a liquor license.
Where is this conventional restaurant located?
The property is located at 1392 N Washington Ave Scranton, PA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,999 SF restaurant and bar property; 109 total seats: 42 restaurant, 19 bar, 32 patio, and 16 porch; Heated wrap‑around porch for year‑round outdoor seating
