Mixed-Use Property with Commercial
For Sale
$260,000
214 Harrison Avenue, Scranton, PA 18510
Vacant interior combines an upper-level residential layout with ground-floor business space.
Property Size2,822 SF
Days on Market25
Property Features for 214 Harrison Avenue
General Information
Standard status
Active
Size
2,822 SF
Total Parking Spaces
10
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,545
Building Details
Building Size
2,822 SF
Stories
2
Listing Agency:
RPA Real Estate - Kingston
(570) 442-3301
Listed By:
George Placencio
Source:
Luxehomesnepa
Added: Aug 4
Changed: Aug 24
Last Checked: Aug 26 at 1:43PM
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 RPA Real Estate - Kingston
Investment Insights
Based on property information with market context.
Located at 214 Harrison Ave in Scranton, PA, this mixed-use property combines residential accommodations with a commercial component. The upper level includes 6 bedrooms and 2 full baths, while the first floor provides a separate commercial area for business use.
The interior is vacant and move-in ready, allowing the next owner to occupy or configure the space without an existing tenant in place. On-site parking accommodates approximately 10 vehicles, adding practical access for residential occupants, customers, or visitors.
The interior is vacant and move-in ready, allowing the next owner to occupy or configure the space without an existing tenant in place. On-site parking accommodates approximately 10 vehicles, adding practical access for residential occupants, customers, or visitors.
Key Highlights
- Mixed‑use property at 214 Harrison Ave, Scranton, PA
- Upper level includes 6 bedrooms and 2 full baths
- First‑floor commercial space
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
$21,756
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
8.37%
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%
$435,120
$435.1K
Cap Rate 7%
$310,800
$310.8K
Cap Rate 9%
$241,733
$241.7K
Market Conditions
NOI Build-Up for 2,822 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
$42.0K $14.88/SF
− Vacancy
−$2.4K −$0.86/SF
EGI
$39.6K $14.02/SF
− OpEx
−$17.8K −$6.31/SF
NOI
$21.8K $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 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%
$435,120
Cap Rate 7%
$310,800
Cap Rate 9%
$241,733
Alternative Uses
Best Use
Mixed Use
$408.2K
$357.2K – $476.2K
NOI $28,573 @ 7.0% cap · market cap 10.99%
Second Best
Apartment 5plus
$310.8K
$272.0K – $362.6K
NOI $21,756 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$716.3K
$626.7K – $835.7K
NOI $50,139 @ 7.0% cap · market cap 19.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,281
Businesses Nearby
Explore this area
Business Placement
Demographics for 18510, PA
14,110
Population
5,824
Households
2.4
Avg Household Size
31
Median Age
28%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
7,839
Density / Sq Mi
$52,500
Median Household Income
$25,282
Median Earnings
$1,040
Median Rent
$178,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant interior combines an upper-level residential layout with ground-floor business space.
Where is this mixed-use property located?
The property is located at 214 Harrison Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Mixed‑use property at 214 Harrison Ave, Scranton, PA; Upper level includes 6 bedrooms and 2 full baths; First‑floor commercial space
