Multifamily
For Sale
$379,000
2089 N Main Ave, Scranton, PA 18508
Built in 1920 and located on N Main Ave in Scranton.
Property Size3,440 SF
Price / SF$110.17
Days on Market82
Property Features for 2089 N Main Ave
General Information
Standard status
Active
Size
3,440 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
Berkshire Hathaway Home Services Preferred Properties
Listed By:
Colleen A Weissman · License #RS285514
(570) 840-0152
Source:
Revolvepa
Added: Jul 26
Changed: Oct 5
Last Checked: Oct 5 at 10:54PM
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 Berkshire Hathaway Home Services Preferred Properties
Investment Insights
Based on property information with market context.
This multifamily property was built in 1920 and is located at 2089 N Main Ave in Scranton, Pennsylvania. The property is offered for sale.
Showings are not currently available, and the transaction is awaiting bankruptcy approval.
Showings are not currently available, and the transaction is awaiting bankruptcy approval.
Key Highlights
- 1920 construction
- Located at 2089 N Main Ave, Scranton, PA 18508
- Sale awaiting bankruptcy approval
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,520
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,400
$530.4K
Cap Rate 7%
$378,857
$378.9K
Cap Rate 9%
$294,667
$294.7K
Market Conditions
NOI Build-Up for 3,440 SF
Gross rent
$51.2K $14.88/SF
− Vacancy
−$3.0K −$0.86/SF
EGI
$48.2K $14.02/SF
− OpEx
−$21.7K −$6.31/SF
NOI
$26.5K $7.71/SF
Area
Lackawanna County, PA
Vacancy
5.80%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,400
Cap Rate 7%
$378,857
Cap Rate 9%
$294,667
Alternative Uses
Best Use
Apartment 5plus
$378.9K
$331.5K – $442.0K
NOI $26,520 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$873.1K
$764.0K – $1.02M
NOI $61,119 @ 7.0% cap · market cap 16.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
763
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 1920 and located on N Main Ave in Scranton.
Where is this multifamily property located?
The property is located at 2089 N Main Ave Scranton, PA.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 1920 construction; Located at 2089 N Main Ave, Scranton, PA 18508; Sale awaiting bankruptcy approval
