Office Building with On-Site
2 W Olive Street, Scranton, PA 18508
For Sale
$649,000
An existing tenant presence upstairs leaves the downstairs office suite available for a new occupant.
Property Size4,600 SF
Days on Market9
Property Features for 2 W Olive Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Highway Access
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
ERA One Source Realty, Peckville
Listed By:
Danielle2Sell Realty Team
(570) 466-5205
Source:
Luxehomesnepa
Added: Nov 1
Changed: Nov 9
Last Checked: Nov 8 at 5:47PM
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 ERA One Source Realty, Peckville
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2004, this office property has office suites on both levels. Two tenants occupy space upstairs, while the downstairs suite is available for a new occupant. The building has no current signage, allowing a future occupant to add its own.
On-site parking accommodates 22 cars. Access is available from I-81, I-380, and I-80. The property has historically housed law offices, and the existing office layout also supports consideration for medical, dental, or veterinary practices.
On-site parking accommodates 22 cars. Access is available from I-81, I-380, and I-80. The property has historically housed law offices, and the existing office layout also supports consideration for medical, dental, or veterinary practices.
Key Highlights
- Office building constructed in 2004
- 22‑car parking area
- Downstairs office suite is available; two tenants occupy the upper level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,113
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,182,260
$1.2M
Cap Rate 7%
$844,471
$844.5K
Cap Rate 9%
$656,811
$656.8K
Market Conditions
NOI Build-Up for 4,600 SF
Gross rent
$92.2K $20.04/SF
− Vacancy
−$13.4K −$2.91/SF
EGI
$78.8K $17.13/SF
− OpEx
−$19.7K −$4.28/SF
NOI
$59.1K $12.85/SF
Area
Lackawanna County, PA
Vacancy
14.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,182,260
Cap Rate 7%
$844,471
Cap Rate 9%
$656,811
Alternative Uses
Best Use
Office B
$844.5K
$738.9K – $985.2K
NOI $59,113 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,730 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,003
Businesses Nearby
Explore this area
Business Placement
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
$120,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office buildings in Lackawanna County, PA
Properties on Market for Office buildings in Lackawanna County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - An existing tenant presence upstairs leaves the downstairs office suite available for a new occupant.
Where is this office building located?
The property is located at 2 W Olive Street Scranton, PA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Office building constructed in 2004; 22‑car parking area; Downstairs office suite is available; two tenants occupy the upper level
