8-Unit Apartment
For Sale
$699,000
Pending
314 W Market St, Scranton, PA 18508
The property includes off-street parking, while tenants pay utilities separately.
Property Size6,500 SF
Days on Market186
Property Features for 314 W Market St
General Information
Standard status
Pending
Size
6,500 SF
Additional Details
Multifamily Units
8
Listing Agency:
ERA One Source Realty
(570) 587-9999
Listed By:
Sunita Arora · License #RM061605A
(570) 510-5840
Source:
Exprealty
Added: Apr 17
Changed: Oct 3
Last Checked: Oct 16 at 1:10PM
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 ERA One Source Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6,500-square-foot apartment building contains 8 units in the North Scranton area. Off-street parking is provided, and tenants pay utilities separately, supporting clear utility responsibility across the property.
The building is situated near stores and major roads, providing convenient access to nearby retail and transportation routes. The property is offered for sale.
The building is situated near stores and major roads, providing convenient access to nearby retail and transportation routes. The property is offered for sale.
Key Highlights
- 8‑unit apartment building in the North Scranton area
- 6,500 square feet of building area
- Off‑street parking available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,111
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,002,220
$1.0M
Cap Rate 7%
$715,871
$715.9K
Cap Rate 9%
$556,789
$556.8K
Market Conditions
NOI Build-Up for 6,500 SF
Gross rent
$96.7K $14.88/SF
− Vacancy
−$5.6K −$0.86/SF
EGI
$91.1K $14.02/SF
− OpEx
−$41.0K −$6.31/SF
NOI
$50.1K $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%
$1,002,220
Cap Rate 7%
$715,871
Cap Rate 9%
$556,789
Alternative Uses
Best Use
Apartment 5plus
$715.9K
$626.4K – $835.2K
NOI $50,111 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,487 @ 7.0% cap · market cap 16.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
Explore this area
Business Placement
Demographics for 18508, PA
11,664
Population
5,466
Households
2.1
Avg Household Size
40
Median Age
18%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
1,715
Density / Sq Mi
$44,706
Median Household Income
$31,055
Median Earnings
$1,034
Median Rent
$120,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The property includes off-street parking, while tenants pay utilities separately.
Where is this apartment building located?
The property is located at 314 W Market St Scranton, PA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 8‑unit apartment building in the North Scranton area; 6,500 square feet of building area; Off‑street parking available
