3-Unit Mixed-Use Storefront
For Sale
$249,900
240 N Main Avenue, Scranton, PA 18504
Street-level storefront with central AC and bathroom plus two residential apartments above and behind on Main Avenue.
Property Size2,298 SF
Days on Market191
Property Features for 240 N Main Avenue
General Information
Standard status
Active
Size
2,298 SF
Property subtype
Mixed Use
Additional Details
Utilities to Site
Yes
Amenities
central AC
Building Details
Building Size
2,298 SF
Year Built
1945
Listing Agency:
Christian Saunders Real Estate
(570) 335-0730
Listed By:
Kyle Savage · License #RS340241
Source:
Luxehomesnepa
Added: Jan 26
Changed: Jul 31
Last Checked: Aug 4 at 8:18AM
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 Christian Saunders Real Estate
Investment Insights
Based on property information with market context.
This 3-unit mixed-use property in Scranton pairs a street-level commercial storefront with two residential apartments above and behind. The main level features a storefront with a bathroom and central AC, with separate utility metering for the units. A rear 1-bedroom apartment is currently vacant and connects to the storefront for straightforward access during showings.
One apartment on the second floor is a 3-bedroom unit and is currently rented. Showings for the 3-bedroom apartment require scheduling in advance. The basement and lower-level units are described as easy to show.
The property is positioned for strong visibility and road frontage on Main Avenue, identified in the remarks as one of the area’s busiest slow-traffic corridors, supporting use by retail or service-based businesses.
One apartment on the second floor is a 3-bedroom unit and is currently rented. Showings for the 3-bedroom apartment require scheduling in advance. The basement and lower-level units are described as easy to show.
The property is positioned for strong visibility and road frontage on Main Avenue, identified in the remarks as one of the area’s busiest slow-traffic corridors, supporting use by retail or service-based businesses.
Key Highlights
- 3‑unit mixed‑use property with storefront plus two residential apartments
- Central AC in the storefront and separate utility metering
- Main‑level storefront with bathroom, connecting to a rear 1‑bedroom apartment
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.5k | $15.00 |
| − Vacancy | −$3.6k | −$1.58 |
| EGI | $30.9k | $13.43 |
| − OpEx | −$9.3k | −$4.03 |
| NOI | $21.6k | $9.40 |
2,298 SF · lease $15.00/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$308.5K
$269.9K – $359.9K
NOI $21,595 @ 7.0% cap · market cap 8.64%
Second Best
Multifamily LT 5
$270.7K
$236.9K – $315.9K
NOI $18,951 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$583.3K
$510.4K – $680.5K
NOI $40,829 @ 7.0% cap · market cap 16.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Mc Gloin's Florist — 106 S Main Ave, Scranton, PA 18504
- B's Floral Design — 131 Penn Ave, Scranton, PA 18503
Frequently Asked Questions
What type of property is this?
Storefront property - Street-level storefront with central AC and bathroom plus two residential apartments above and behind on Main Avenue.
Where is this storefront property located?
The property is located at 240 N Main Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 3‑unit mixed‑use property with storefront plus two residential apartments; Central AC in the storefront and separate utility metering; Main‑level storefront with bathroom, connecting to a rear 1‑bedroom apartment
