Six-Unit Apartment Building with
For Sale
$799,900
525 527 Cedar Avenue, Scranton, PA 18505
MULTI_FAMILY - Scranton, PA
Property Size5,685 SF
Lot Size0.14 Acres
Price / SF$140.70
Days on Market145
Property Features for 525 527 Cedar Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-N
Zoning description
Commercial
Bedrooms
9
Bathrooms
7
Full bathrooms
6
Half bathrooms
1
Rooms
Bathroom 6, Bedroom 3, Bathroom 3, Bedroom 6, Bedroom 7, Bathroom 7, Bathroom 2, Bedroom 9, Basement, Bedroom 5, Bathroom 4, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 5, Bedroom 8
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Cedar Avenue across from Citizens Savings Bank
Standard status
Active
APN
15616020002
Size
5,685 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
40X150 Li&C Town Plot L 7 B 2 W-11 B-003 L-016 P-005
Tax Annual Amount
5293
Legal Description
40X150 Li&C Town Plot L 7 B 2 W-11 B-003 L-016 P-005
Building Details
Year built
1920
Floors in Building
3
Number of units
6
Listing Agency:
Keller Williams Real Estate-Clarks Summit · Keller Williams Realty
(570) 585-5800
Listed By:
Sherrie L Miller · License #RM423823
(570) 430-1599
Added: Apr 1
Changed: Aug 3
Last Checked: Aug 23 at 12:06PM
MLS# SC261974
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.
Investment Insights
Based on property information with market context.
This six-unit apartment building includes two first-floor storefronts currently operated as a barber shop and a salon shop. The second floor features three residential units, and the third floor includes one large penthouse unit.
The property sits on a 0.14-acre lot and has a total size of 5,685 square feet. Built in 1920 and zoned C-N, the building is described as being in good condition with good visibility.
Access is provided via an alley at the rear, and off-street parking is available for the third-floor unit. The setup combines street-level retail frontage with upstairs residential living within a single building.
The property sits on a 0.14-acre lot and has a total size of 5,685 square feet. Built in 1920 and zoned C-N, the building is described as being in good condition with good visibility.
Access is provided via an alley at the rear, and off-street parking is available for the third-floor unit. The setup combines street-level retail frontage with upstairs residential living within a single building.
Key Highlights
- Two first‑floor storefronts: barber shop and salon shop
- Second floor has 3 residential units
- Third floor penthouse is one large unit
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
$53,425
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
6.68%
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%
$1,068,500
$1.1M
Cap Rate 7%
$763,214
$763.2K
Cap Rate 9%
$593,611
$593.6K
Market Conditions
NOI Build-Up for 5,685 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
$85.3K $15.00/SF
− Vacancy
−$9.0K −$1.58/SF
EGI
$76.3K $13.43/SF
− OpEx
−$22.9K −$4.03/SF
NOI
$53.4K $9.40/SF
Area
Lackawanna County, PA
Vacancy
10.50%
Lease Rate
$15.00 /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%
$1,068,500
Cap Rate 7%
$763,214
Cap Rate 9%
$593,611
Alternative Uses
Best Use
Retail
$763.2K
$667.8K – $890.4K
NOI $53,425 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$626.1K
$547.9K – $730.5K
NOI $43,828 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,007 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,366
Businesses Nearby
Explore this area
Business Placement
Demographics for 18505, PA
20,982
Population
9,996
Households
2.1
Avg Household Size
39
Median Age
26%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
2,384
Density / Sq Mi
$52,599
Median Household Income
$34,155
Median Earnings
$954
Median Rent
$139,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building with two first-floor storefronts, three residential units on the second floor, and a penthouse on the third.
Where is this apartment building located?
The property is located at 525 527 Cedar Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Two first‑floor storefronts: barber shop and salon shop; Second floor has 3 residential units; Third floor penthouse is one large unit
