Four-Bay Auto
For Sale
$265,000
511 N Keyser Ave, Scranton, PA 18504
Automotive facility with office space, multiple garage configurations, rear land, and on-site parking.
Property Size3,520 SF
Price / SF$75.28
Days on Market16
Property Features for 511 N Keyser Ave
General Information
Standard status
Active
Size
3,520 SF
Additional Details
Road Access
Yes
Service Bays
4
Amenities
office
Building Details
Year Built
1975
Listing Agency:
NASSER REAL ESTATE, INC.
(570) 309-8799
Listed By:
Jim Nasser · License #AB065869
Source:
Revolvepa
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 28 at 8:30PM
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 NASSER REAL ESTATE, INC.
Investment Insights
Based on property information with market context.
This automotive property includes a 3,520-square-foot facility with an office and four garage bays. The existing layout comprises a one-car garage, a two-car garage, and a larger garage served by a 16-foot overhead door. Land extends behind the garage area, providing additional property beyond the current improvements.
The property is located at 511 N Keyser Ave in Scranton, Pennsylvania, with road frontage and on-site parking. Built in 1975, the facility offers a functional base for automotive operations or related commercial use.
The property is located at 511 N Keyser Ave in Scranton, Pennsylvania, with road frontage and on-site parking. Built in 1975, the facility offers a functional base for automotive operations or related commercial use.
Key Highlights
- 3,520‑square‑foot automotive facility
- Four garage bays with office space
- Garage layout includes one‑car and two‑car bays
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
$20,539
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
7.75%
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%
$410,780
$410.8K
Cap Rate 7%
$293,414
$293.4K
Cap Rate 9%
$228,211
$228.2K
Market Conditions
NOI Build-Up for 3,520 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
$31.1K $8.83/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$29.3K $8.34/SF
− OpEx
−$8.8K −$2.50/SF
NOI
$20.5K $5.83/SF
Area
Lackawanna County, PA
Vacancy
5.60%
Lease Rate
$8.83 /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%
$410,780
Cap Rate 7%
$293,414
Cap Rate 9%
$228,211
Alternative Uses
Best Use
Retail
$472.6K
$413.5K – $551.3K
NOI $33,079 @ 7.0% cap · market cap 12.48%
Second Best
Industrial
$293.4K
$256.7K – $342.3K
NOI $20,539 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$893.4K
$781.8K – $1.04M
NOI $62,541 @ 7.0% cap · market cap 23.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
10k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
7,102 visits/mo
0.3 miles
NBT Bank
Shops & Services
2,450 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Automotive facility with office space, multiple garage configurations, rear land, and on-site parking.
Where is this auto shop located?
The property is located at 511 N Keyser Ave Scranton, PA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 3,520‑square‑foot automotive facility; Four garage bays with office space; Garage layout includes one‑car and two‑car bays
