Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Scranton Development Opportunity Title is generated by Realmo AI

    515 Wyoming Ave, Scranton, PA 18509

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $449,900

    Prime mixed-use development site near Lackawanna College.

    Property size:
    7,000 SF
    Price / SF:
    $64/SF
    Added:
    Sep 11, 2025
    Days on Market:
    255
    Last Refresh:
    May 19 at 10:56 pm

    Property Features for 515 Wyoming Ave

    General Information

    Standard status
    Active
    Size
    7,000 SF

    We can help!

    Listing Contact
    Christian Saunders
    Christian Saunders

    Listing agent Christian Saunders License #RM424906

    Listing office Christian Saunders Real Estate

    Listing date Sep 11, 2025

    Source Exprealty

    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 Christian Saunders Real Estate

    HighLights

    • Prime downtown location directly across from Lackawanna College's upcoming Center for Technology Innovation.
    • D‑Downtown zoning allows for flexible commercial, mixed‑use, or institutional development.
    • Existing two‑story building with street‑level commercial frontage, wide garage bay, and rear access with overhead doors.
    • On‑site and rear parking available.
    • Updated interior areas including showroom and office build‑outs for immediate occupancy.
    • Potential to benefit from increased foot traffic and demand due to Lackawanna College's investment.

    Overview

    Located on the 500 block of Wyoming Avenue in downtown Scranton, this property presents a development opportunity across from Lackawanna College's upcoming Center for Technology Innovation. The site, zoned D-Downtown, allows for commercial, mixed-use, or institutional development. The existing two-story building includes street-level commercial frontage with a wide garage bay, expansive upper-floor windows, and rear access with overhead doors to garage/warehouse space. On-site and rear parking are available. Updated interior areas, including showroom and office build-outs, allow for immediate occupancy or redevelopment. The location is positioned to benefit from Lackawanna College's multimillion-dollar investment, which is expected to bring new activity, foot traffic, and demand from students, faculty, and technology partners. Surrounded by restaurants, retail, and professional services, the property is suited for mixed-use redevelopment, office or coworking space, retail, dining or entertainment venues, training and educational facilities, or student housing/apartments. The property size is 7000 square feet.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm 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
    -75.6608921
    Latitude
    41.412866

    Nearby Similar for Sale

    • $699,000
      3,012 SF

      Scranton Office/Retail Building For Sale

      Modern building suitable for office, retail, or medical use.
      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
    • $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
    • $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
    • $329,900
      3,530 SF

      Mixed-Use Property in Green Ridge

      Mixed-use property with commercial space and apartments in Scranton, PA.
      622 E Market Street, Scranton, PA 18509
      View Details
    • $470,000
      3,719 SF

      Four Units Plus Garage Scranton

      Four units and a garage on the same lot.
      1142 Academy Street, Scranton, PA 18504
      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
    • $345,000
      3,669 SF

      Scranton Multi-Family Conversion Opportunity

      High-visibility building ready for conversion into a 4-unit multi-family.
      1248-1252 Providence Road, Scranton, PA 18508
      View Details
    • $345,000
      3,669 SF

      Scranton Multifamily Conversion Opportunity

      High-visibility building ready for conversion into a 4-unit multifamily.
      1248-1252 Providence Road, Scranton, PA 18508
      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
    • $425,000
      3,820 SF

      Scranton Investment Property Package

      Well-maintained multi-family and single-family homes in desirable location.
      1522-1524 1508 Elizabeth Street, Scranton, PA 18504
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Prime mixed-use development site near Lackawanna College.
    Where is this mixed-use property located?
    The property is located at 515 Wyoming Ave Scranton, PA.
    What is the asking price?
    The asking price for this property is $449,900.
    What are key features of this property?
    This property features: Prime downtown location directly across from Lackawanna College's upcoming Center for Technology Innovation.; D‑Downtown zoning allows for flexible commercial, mixed‑use, or institutional development.; Existing two‑story building with street‑level commercial frontage, wide garage bay, and rear access with overhead doors.
    (570) 947-3292
    We can help!
    Listing Contact
    Christian Saunders
    Christian Saunders
    Real Estate License ID: RM424906
    Learn More
    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
    515 Wyoming Ave, Scranton, PA
    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!