Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    North Scranton Multifamily Investment Opportunity Title is generated by Realmo AI

    314 W Market Street, Scranton, PA 18508

    View on Map
    Claim this Listing
    For Sale
    $699,000

    MULTI_FAMILY - Scranton, PA

    Property size:
    6,500 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $107/SF
    Added:
    Apr 17, 2026
    Days on Market:
    46
    Last Refresh:
    Jun 1 at 7:06 am

    Property Features for 314 W Market Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R2
    Parking features
    Parking Lot, Assigned
    Exterior features
    Balcony
    Standard status
    Active
    APN
    13408040025
    Size
    6,500 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    41X200 Helen Evans Est L 1 W-01 B-006 L-009 P-00901

    Utilities

    Water source
    Public

    Building Details

    Year built
    1930
    Floors in Building
    3
    Number of units
    8

    We can help!

    Listing Contact
    Sunita Arora
    Sunita Arora

    Listing agent Sunita Arora License #RM061605A

    Listing office ERA One Source Realty 230 Northern Blvd., Clarks Summit, PA

    Listing date Apr 17, 2026

    MLS# SC261588

    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.

    HighLights

    • Eight‑unit building, ideal for investors.
    • Tenants pay separate utilities.
    • Off‑street parking available.
    • Well‑maintained property.
    • Balcony included.
    • Conveniently located near stores and major roads.

    Overview

    Located in the North Scranton area, this multifamily property features eight units. The property is well-maintained and offers off-street parking. Tenants are responsible for paying their separate utilities. The property is situated close to stores and major roads. The lot size is 0.19 acres, and the building size is 6,500 square feet. The zoning is R2.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $96.7k $14.88
    − Vacancy −$5.6k −$0.86
    EGI $91.1k $14.02
    − OpEx −$41.0k −$6.31
    NOI $50.1k $7.71
    6,500 SF · lease $14.88/SF/yr · vacancy 5.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $715.9K
    $626.4K – $835.2K (±1% cap)
    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 (±1% cap)
    NOI $115,487 @ 7.0% cap · market cap 16.52%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.659014
    Latitude
    41.440035

    Nearby Similar for Sale

    • $699,000
      3,000 SF

      Scranton Office/Retail Building For Sale

      Modern building near Keyser Ave, suitable for various commercial uses.
      7 Oakwood Drive, Scranton, PA 18504
      View Details
    • $650,000
      3,900 SF

      Scranton Commercial Building with Garage

      Meticulously maintained 6-bay garage with office and retail space.
      18 Electric Street, Scranton, PA 18509
      View Details
    • $449,900
      7,000 SF

      Prime Scranton Development Opportunity

      Two-story mixed-use building in downtown Scranton near Lackawanna College.
      515 Wyoming Ave, Scranton, PA 18509
      View Details
    • $675,000
      7,348 SF

      Scranton Multifamily Investment Opportunity

      Eight-unit multifamily property in Scranton, offering strong income potential.
      1607 Sanderson Avenue, Scranton, PA 18509
      View Details
    • $599,900
      3,724 SF

      Scranton Duplex Near University

      Fully rented 14-bedroom duplex near the University of Scranton.
      430-432 Taylor Avenue, Scranton, PA 18510
      View Details
    • $950,000
      3,015 SF

      Turn-Key Restaurant with Luxury Apartment

      Mixed-use property featuring a restaurant and upscale residential unit.
      110 N Main Avenue, Scranton, PA 18504
      View Details
    • $389,000
      3,288 SF

      Prime Commercial Space in Scranton

      Highway Commercial District property with built-in income potential.
      381 N 9th Avenue, Scranton, PA 18504
      View Details
    • $625,000
      2,900 SF

      Turnkey Restaurant with Rental Income

      Established pizza restaurant with rental income in Scranton, PA.
      530 532 Pittston Avenue, Scranton, PA 18505
      View Details
    • $799,900
      5,685 SF

      Mixed-Use Property in Downtown Scranton

      Six-unit mixed-use property with storefronts and residential units.
      525 527 Cedar Avenue, Scranton, PA 18505
      View Details
    • $975,000
      9,200 SF

      Green Ridge Multifamily Investment Opportunity

      Meticulously maintained 8-unit apartment building in desirable Green Ridge.
      1411-1413 N Washington Avenue, Scranton, PA 18509
      View Details
    • $699,000
      6,200 SF

      Scranton Multifamily Investment Opportunity

      Multifamily property with seven residential units and three garage spaces.
      1418 Pittston Avenue, Scranton, PA 18505
      View Details
    • $595,000
      6,547 SF

      Established Garage in Prime Location

      Well-equipped garage with lifts, compressors, and security systems included.
      800 Providence Road, Scranton, PA 18508
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-maintained 8-unit apartment building in North Scranton.
    Where is this apartment building located?
    The property is located at 314 W Market Street 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: Eight‑unit building, **ideal for investors**.; Tenants pay separate utilities.; Off‑street parking available.
    (570) 510-5840
    We can help!
    Listing Contact
    Sunita Arora
    Sunita Arora
    Real Estate License ID: RM061605A
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    314 W Market Street, Scranton, PA 18508
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!