Three-Unit Mixed-Use
For Sale
$239,900
240 N Main Avenue, Scranton, PA 18504
Residential Income, Scranton, PA
Property Size2,298 SF
Lot Size0.05 Acres
Price / SF$104.40
Days on Market209
Property Features for 240 N Main Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
CT
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 1, Basement, Bathroom 3, Bedroom 3, Bathroom 1
Basement
Dirt Floor, Storage Space
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Central Scranton Expressway to Main Avenue
Standard status
Active
APN
14518030056
Size
2,298 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
23X89x2x31 W-14 B-024 L-011 P-001
Tax Annual Amount
2622
Legal Description
23X89x2x31 W-14 B-024 L-011 P-001
Amenities
central air conditioning
separately metered utilities
Building Details
Year built
1945
Floors in Building
2
Number of units
3
Listing Agency:
Christian Saunders Real Estate
(800) 372-4222
Listed By:
Kyle Savage · License #RS340241
(570) 335-0730
Added: Feb 2
Changed: Aug 24
Last Checked: Aug 30 at 7:06PM
MLS# SC260407
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.
Investment Insights
Based on property information with market context.
This 2,298-square-foot mixed-use property contains three units, including a street-level storefront with a bathroom and central AC. The commercial area connects to a rear one-bedroom apartment, while a second-floor three-bedroom apartment provides additional residential space. A basement and lower-level areas are also included.
The property occupies 0.05 acres at 240 N Main Avenue in Scranton and carries CT zoning. Utilities are separately metered across the property. The three-bedroom apartment is leased, while the rear one-bedroom apartment is vacant and available for showings. Access to the occupied apartment requires advance scheduling.
The property occupies 0.05 acres at 240 N Main Avenue in Scranton and carries CT zoning. Utilities are separately metered across the property. The three-bedroom apartment is leased, while the rear one-bedroom apartment is vacant and available for showings. Access to the occupied apartment requires advance scheduling.
Key Highlights
- Three‑unit mixed‑use property with a storefront and two apartments
- 2,298 square feet on 0.05 acres
- Street‑level storefront includes a bathroom and central AC
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
Property Profile
Current Use
Lease Details
Yes
Utilities to site
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space combines with two residential apartments and separately metered utilities.
Where is this mixed-use 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 $239,900.
What are key features of this property?
This property features: Three‑unit mixed‑use property with a storefront and two apartments; 2,298 square feet on 0.05 acres; Street‑level storefront includes a bathroom and central AC
