3-Unit Mixed-Use
For Sale
$229,900
240 N Main Avenue, Scranton, PA 18504
Commercial Sale, Scranton, PA
Property Size2,298 SF
Lot Size0.05 Acres
Price / SF$100.04
Days on Market266
Property Features for 240 N Main Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CT
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
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
(570) 335-0730
Added: Jan 26
Changed: Oct 13
Last Checked: Oct 19 at 11:06AM
MLS# SC260336
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.
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Investment Insights
Based on property information with market context.
This 3-unit mixed-use property combines a street-facing commercial storefront with two residential apartments arranged above and behind the retail space. The storefront includes a bathroom and central AC, while each utility is separately metered. A rear 1-bedroom apartment connects directly to the commercial area, and the second-floor residence has 3 bedrooms. One apartment is occupied, while the rear unit is vacant and available for showings.
Built in 1945, the property contains 2,298 square feet on a 0.05-acre lot and carries CT zoning. Its position along N Main Avenue provides road frontage and exposure along a heavily traveled slow-traffic corridor in Scranton. The basement and lower-level areas are also available for straightforward access during the showing process.
Built in 1945, the property contains 2,298 square feet on a 0.05-acre lot and carries CT zoning. Its position along N Main Avenue provides road frontage and exposure along a heavily traveled slow-traffic corridor in Scranton. The basement and lower-level areas are also available for straightforward access during the showing process.
Key Highlights
- 3‑unit mixed‑use property with a street‑level storefront and 2 residential apartments
- 2,298 square feet on a 0.05‑acre lot
- CT zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,716
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$354,320
$354.3K
Cap Rate 7%
$253,086
$253.1K
Cap Rate 9%
$196,844
$196.8K
Market Conditions
NOI Build-Up for 2,298 SF
Gross rent
$34.2K $14.88/SF
− Vacancy
−$2.0K −$0.86/SF
EGI
$32.2K $14.02/SF
− OpEx
−$14.5K −$6.31/SF
NOI
$17.7K $7.71/SF
Area
Lackawanna County, PA
Vacancy
5.80%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$354,320
Cap Rate 7%
$253,086
Cap Rate 9%
$196,844
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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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level storefront with two residential apartments, separate utility metering, and central AC serving the commercial space.
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 $229,900.
What are key features of this property?
This property features: 3‑unit mixed‑use property with a street‑level storefront and 2 residential apartments; 2,298 square feet on a 0.05‑acre lot; CT zoning
