Mixed-Use Property with Conference
For Sale
$379,999
381 N 9th Avenue, Scranton, PA 18504
Flexible commercial layout includes cubicles, built-in shelving, and multiple restrooms.
Property Size3,288 SF
Days on Market16
Property Features for 381 N 9th Avenue
General Information
Standard status
Active
Size
3,288 SF
Property subtype
Mixed Use
Zoning
Highway Commercial District
Taxes and HOA fees
Annual Taxes
$8,404
Amenities
kitchenettes
conference rooms
Building Details
Building Size
3,288 SF
Year Built
1987
Listing Agency:
Berkshire Hathaway Home Services Preferred Properties
(570) 840-0152
Listed By:
Robert S Vanston · License #RM046573A
Source:
Luxehomesnepa
Added: Jul 30
Changed: Aug 14
Last Checked: Aug 14 at 12:10PM
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 Berkshire Hathaway Home Services Preferred Properties
Investment Insights
Based on property information with market context.
This mixed-use commercial property, constructed in 1987, offers a flexible interior configured for business operations. Existing improvements include cubicle work areas, built-in shelving, multiple restrooms, two kitchenettes, and conference rooms, providing a range of established functional spaces within the building.
The property is located at 381 N 9th Avenue in Scranton, Pennsylvania, within a Highway Commercial District. Its commercial setting and existing office-oriented features support a range of professional or service-based occupancy arrangements, subject to applicable regulations.
The property is located at 381 N 9th Avenue in Scranton, Pennsylvania, within a Highway Commercial District. Its commercial setting and existing office-oriented features support a range of professional or service-based occupancy arrangements, subject to applicable regulations.
Key Highlights
- Mixed‑use commercial property built in 1987
- Located within a Highway Commercial District
- Cubicle work areas and built‑in shelving
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
$33,291
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
8.76%
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%
$665,820
$665.8K
Cap Rate 7%
$475,586
$475.6K
Cap Rate 9%
$369,900
$369.9K
Market Conditions
NOI Build-Up for 3,288 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
$59.2K $18.00/SF
− Vacancy
−$5.9K −$1.80/SF
EGI
$53.3K $16.20/SF
− OpEx
−$20.0K −$6.07/SF
NOI
$33.3K $10.13/SF
Area
Lackawanna County, PA
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$665,820
Cap Rate 7%
$475,586
Cap Rate 9%
$369,900
Alternative Uses
Best Use
Office B
$603.6K
$528.2K – $704.2K
NOI $42,253 @ 7.0% cap · market cap 11.12%
Second Best
Mixed Use
$475.6K
$416.1K – $554.9K
NOI $33,291 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$834.6K
$730.2K – $973.7K
NOI $58,419 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,761
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial layout includes cubicles, built-in shelving, and multiple restrooms.
Where is this mixed-use property located?
The property is located at 381 N 9th Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $379,999.
What are key features of this property?
This property features: Mixed‑use commercial property built in 1987; Located within a Highway Commercial District; Cubicle work areas and built‑in shelving
