Building Details

Year built 1955

Floors in Building 1

Number of units 2

Flooring type Concrete

Listing Agency: NASSER REAL ESTATE, INC. Show Phone

Listed By: Jim Nasser Show Phone

Added: Apr 28 Changed: Oct 9 Last Checked: Oct 28 at 7:06AM

Report an Issue

MLS# SC261816

Copyright © 2026 Greater Scranton Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Located at 232 N Main Avenue in Scranton, this 2,820-square-foot storefront property is arranged as two separate units. The layout can be converted into a single commercial space, providing flexibility for different operating configurations. Concrete flooring is installed throughout, and the property was built in 1955.

The 0.23-acre site includes an adjacent lot and off-street parking. Public water and public sewer serve the property. C1 zoning supports its commercial positioning, while the Main Avenue address places the building within the established Scranton street network.

Key Highlights

• 2,820 square feet arranged as two units
• Layout can be opened into one commercial space
• 0.23‑acre parcel with adjacent lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,501

Cap Rate

7.59%

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

Is this asking price fair?

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 (±1% cap)

NOI $26,501 @ 7.0% cap · market cap 7.59%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$715.8K

$626.3K – $835.1K (±1% cap)

NOI $50,104 @ 7.0% cap · market cap 14.36%

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

Storefront properties

Suggested Use

Top Pick Carpet & Flooring Store Locksmith Garden Center Butcher Catering Service Pet Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

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

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Similar For Sale Nearby

See more

Mixed-Use Building with Upstairs Apartment

146 S Main Ave, Scranton, PA 18504

$225,000

2,655 SF

View details

Three-Story Victorian Spa Property

924 S Main Ave, Scranton, PA 18504

$289,000

3,300 SF

View details

Office Units with Paved Parking

7 Oakwood Drive, Scranton, PA 18504

$630,000

3,000 SF

View details

Mixed-Use Building with Apartments

622 E Market Street, Scranton, PA 18509

$259,900

3,530 SF

View details

Three-Unit Mixed-Use Property

535 Green Ridge Street, Scranton, PA 18509

$269,995

View details

Mixed-Use Building with Storefront

240 N Main Avenue, Scranton, PA 18504

$229,900

View details

Mixed-Use Building with Parking

1365 Wyoming Ave, Scranton, PA 18509

$260,900

1,714 SF

View details

Renovated Deli-Restaurant

1400 Lafayette Street, Scranton, PA 18504

$274,900

1,620 SF

View details

Three-Unit Retail Property

2601 Birney Avenue, Scranton, PA 18505

$469,900

4,800 SF

View details

Retail/Office Building with Parking

1031 Price St, Scranton, PA 18504

$335,000

6,400 SF

View details

Mixed-Use Property with Two Apartments

1432-1436 N Main Avenue, Scranton, PA 18508

$320,000

6,750 SF

View details

Two-Story Mixed-Use Building

515 Wyoming Ave, Scranton, PA 18509

$399,900

7,000 SF

View details

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 - C1-zoned commercial space offers off-street parking and a flexible interior configuration.

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 $349,000.

What are key features of this property?

This property features: 2,820 square feet arranged as two units; Layout can be opened into one commercial space; 0.23‑acre parcel with adjacent lot