Mixed-Use Building with
For Sale
$239,900
240 N Main Avenue, Scranton, PA 18504
Three-unit mixed-use building with a street-level storefront and two residential apartments above and behind.
Property Size2,298 SF
Days on Market227
Property Features for 240 N Main Avenue
General Information
Standard status
Active
Size
2,298 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,622
Building Details
Building Size
2,298 SF
Year Built
1945
Listing Agency:
Christian Saunders Real Estate
Listed By:
Kyle Savage · License #RS340241
(570) 335-0730
Source:
Luxehomesnepa
Added: Jan 26
Changed: Sep 4
Last Checked: Sep 10 at 7:24AM
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 offers a commercial storefront on the main level with a bathroom, connected to a rear 1-bedroom apartment that is currently vacant. Two residential apartments are located on the upper levels, including a 3-bedroom unit that is currently rented. The building’s utilities are separately metered, and the storefront includes central A/C. The basement and lower level units are described as easy to show, while showings for the 3-bedroom apartment require advance scheduling.
The property is located on N Main Ave in Scranton with road frontage and visibility along a busy slow-traffic corridor, supporting storefront presence for retail or service-based operations.
Overall, the configuration combines street-level commercial space with residential units above and behind, providing separate metering and straightforward access for showings to the storefront-related areas.
The property is located on N Main Ave in Scranton with road frontage and visibility along a busy slow-traffic corridor, supporting storefront presence for retail or service-based operations.
Overall, the configuration combines street-level commercial space with residential units above and behind, providing separate metering and straightforward access for showings to the storefront-related areas.
Key Highlights
- Three‑unit mixed‑use building with a street‑level commercial storefront and two residential apartments above and behind
- Year built: 1945
- Main level includes a commercial storefront with a bathroom and separate access to a rear 1‑bedroom apartment
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
$21,595
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
9.00%
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%
$431,900
$431.9K
Cap Rate 7%
$308,500
$308.5K
Cap Rate 9%
$239,944
$239.9K
Market Conditions
NOI Build-Up for 2,298 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
$34.5K $15.00/SF
− Vacancy
−$3.6K −$1.58/SF
EGI
$30.9K $13.43/SF
− OpEx
−$9.3K −$4.03/SF
NOI
$21.6K $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 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%
$431,900
Cap Rate 7%
$308,500
Cap Rate 9%
$239,944
Alternative Uses
Best Use
Mixed Use
$332.4K
$290.8K – $387.8K
NOI $23,267 @ 7.0% cap · market cap 9.70%
Second Best
Retail
$308.5K
$269.9K – $359.9K
NOI $21,595 @ 7.0% cap · market cap 9.00%
Theoretical Best
Office A
$583.3K
$510.4K – $680.5K
NOI $40,829 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
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
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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?
Triplex - Three-unit mixed-use building with a street-level storefront and two residential apartments above and behind.
Where is this triplex located?
The property is located at 240 N Main Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Three‑unit mixed‑use building with a street‑level commercial storefront and two residential apartments above and behind; Year built: 1945; Main level includes a commercial storefront with a bathroom and separate access to a rear 1‑bedroom apartment
