Two-Unit Storefront
For Sale
$369,000
232 N Main Avenue, Scranton, PA 18504
Existing two-unit layout can be reconfigured into a single commercial space with parking provided by an adjoining lot.
Property Size2,820 SF
Days on Market166
Property Features for 232 N Main Avenue
General Information
Standard status
Active
Size
2,820 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$7,625
Building Details
Building Size
2,820 SF
Year Built
1955
Listing Agency:
NASSER REAL ESTATE, INC.
Listed By:
Jim Nasser · License #AB065869
(570) 309-8799
Source:
Luxehomesnepa
Added: Apr 28
Changed: Oct 4
Last Checked: Oct 10 at 2:47AM
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 NASSER REAL ESTATE, INC.
Investment Insights
Based on property information with market context.
This storefront property was built in 1955 and is currently arranged as two separate units. The interior configuration can be opened to create one larger commercial space, offering flexibility for an owner or occupant seeking a consolidated layout.
The property includes an adjacent lot that provides ample parking. It is located at 232 N Main Ave in Scranton, Pennsylvania, with the address identified as 18504.
The property includes an adjacent lot that provides ample parking. It is located at 232 N Main Ave in Scranton, Pennsylvania, with the address identified as 18504.
Key Highlights
- Two existing commercial units can be opened into one larger space
- Adjacent lot provides ample parking
- Built in 1955
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,501
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,020
$530.0K
Cap Rate 7%
$378,586
$378.6K
Cap Rate 9%
$294,456
$294.5K
Market Conditions
NOI Build-Up for 2,820 SF
Gross rent
$42.3K $15.00/SF
− Vacancy
−$4.4K −$1.58/SF
EGI
$37.9K $13.43/SF
− OpEx
−$11.4K −$4.03/SF
NOI
$26.5K $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 Rate 5%
$530,020
Cap Rate 7%
$378,586
Cap Rate 9%
$294,456
Alternative Uses
Best Use
Retail
$378.6K
$331.3K – $441.7K
NOI $26,501 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$715.8K
$626.3K – $835.1K
NOI $50,104 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
121k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Groceries 11%
Dining 10%
Sheetz
Shops & Services
45,486 visits/mo
0.3 miles
Redner's Warehouse Market
Groceries
13,807 visits/mo
0.4 miles
Arby's
Dining
12,055 visits/mo
0.3 miles
Sunoco
Shops & Services
7,406 visits/mo
0.4 miles
Sunoco
Shops & Services
6,009 visits/mo
0.2 miles
Demographics for 18504, PA
21,267
Population
10,017
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
10.2 sq mi
ZIP Area
2,085
Density / Sq Mi
$52,542
Median Household Income
$38,439
Median Earnings
$970
Median Rent
$144,200
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 Retail in Northeast region
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Similar Off Market Nearby
- B's Floral Design — 131 Penn Ave, Scranton, PA 18503
- Mc Gloin's Florist — 106 S Main Ave, Scranton, PA 18504
Frequently Asked Questions
What type of property is this?
Storefront property - Existing two-unit layout can be reconfigured into a single commercial space with parking provided by an adjoining lot.
Where is this storefront property located?
The property is located at 232 N Main Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Two existing commercial units can be opened into one larger space; Adjacent lot provides ample parking; Built in 1955
