Mixed-Use Building with
For Sale
$229,900
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 Market275
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: Oct 25
Last Checked: Oct 26 at 10:46PM
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
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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 / Yr
$18,951
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,020
$379.0K
Cap Rate 7%
$270,729
$270.7K
Cap Rate 9%
$210,567
$210.6K
Market Conditions
NOI Build-Up for 2,298 SF
Gross rent
$29.0K $12.60/SF
− Vacancy
−$1.9K −$0.82/SF
EGI
$27.1K $11.78/SF
− OpEx
−$8.1K −$3.53/SF
NOI
$19.0K $8.25/SF
Area
Lackawanna County, PA
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,020
Cap Rate 7%
$270,729
Cap Rate 9%
$210,567
Alternative Uses
Best Use
Mixed Use
$332.4K
$290.8K – $387.8K
NOI $23,267 @ 7.0% cap · market cap 10.12%
Second Best
Retail
$308.5K
$269.9K – $359.9K
NOI $21,595 @ 7.0% cap · market cap 9.39%
Theoretical Best
Office A
$583.3K
$510.4K – $680.5K
NOI $40,829 @ 7.0% cap · market cap 17.76%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
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 $229,900.
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
