Triplex With Ground-Floor Commercial
For Sale
$251,900
Pending
540 Wheeler Avenue, Scranton, PA 18510
MULTI_FAMILY - Scranton, PA
Property Size2,494 SF
Lot Size0.09 Acres
Days on Market86
Property Features for 540 Wheeler Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-11
Zoning description
Multi-Family
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Basement, Bedroom 3, Bedroom 4
Parking
2
Parking features
Off Street
Basement
Unfinished, Sump Pump
Appliances
Free-Standing Gas Range, Refrigerator
Lot features
Corner Lot
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From S. Blakely turn R onto Third St. follow approximately .9 miles, 540 Wheeler is on L.
Standard status
Pending
APN
15710040001
Size
2,494 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
50X80 Bldg & Land W-17 B-0500 L-0240 P-00100
Tax Annual Amount
6401
Legal Description
50X80 Bldg & Land W-17 B-0500 L-0240 P-00100
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Amenities
original hardwood flooring
separate utilities for each unit
Building Details
Year built
1925
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Vinyl
Building materials
Stucco
Roof type
Asphalt
Listing Agency:
C21 Jack Ruddy Real Estate · Century 21 Real Estate
(570) 344-6724
Listed By:
Melissa Campas-Hoffman
(570) 472-5210
Added: May 19
Changed: Aug 1
Last Checked: Aug 12 at 8:06PM
MLS# SC262936
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 as-is triplex includes two spacious residential apartments plus a commercial space on the first floor. The commercial bathroom is not a full bath. Interior finishes feature original hardwood flooring and additional vinyl flooring, with natural gas heating. The property includes separate utilities for each unit, helping support independent operations. Appliances include a free-standing gas range and refrigerator. Off-street parking is available for three vehicles.
Set on a 0.09-acre lot, the building was constructed in 1925 with stucco construction and an asphalt roof. Water and sewer service are public. The home connects to public sewer and is served by public water.
The layout provides a mixed-use configuration with residential space above and a first-floor commercial component, supported by separate utilities for each unit.
Set on a 0.09-acre lot, the building was constructed in 1925 with stucco construction and an asphalt roof. Water and sewer service are public. The home connects to public sewer and is served by public water.
The layout provides a mixed-use configuration with residential space above and a first-floor commercial component, supported by separate utilities for each unit.
Key Highlights
- Two residential apartments plus a first‑floor commercial space
- Commercial bathroom is not a full bath
- Separate utilities for each 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
$20,567
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
8.16%
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%
$411,340
$411.3K
Cap Rate 7%
$293,814
$293.8K
Cap Rate 9%
$228,522
$228.5K
Market Conditions
NOI Build-Up for 2,494 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
$31.4K $12.60/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$29.4K $11.78/SF
− OpEx
−$8.8K −$3.53/SF
NOI
$20.6K $8.25/SF
Area
Lackawanna County, PA
Vacancy
6.50%
Lease Rate
$12.60 /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%
$411,340
Cap Rate 7%
$293,814
Cap Rate 9%
$228,522
Alternative Uses
Best Use
Retail
$334.8K
$293.0K – $390.6K
NOI $23,437 @ 7.0% cap · market cap 9.30%
Second Best
Multifamily LT 5
$293.8K
$257.1K – $342.8K
NOI $20,567 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$633.0K
$553.9K – $738.5K
NOI $44,312 @ 7.0% cap · market cap 17.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,281
Businesses Nearby
Explore this area
Business Placement
Demographics for 18510, PA
14,110
Population
5,824
Households
2.4
Avg Household Size
31
Median Age
28%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
7,839
Density / Sq Mi
$52,500
Median Household Income
$25,282
Median Earnings
$1,040
Median Rent
$178,000
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?
Triplex - R-11 triplex with separate utilities, original hardwood flooring, and off-street parking
Where is this triplex located?
The property is located at 540 Wheeler Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $251,900.
What are key features of this property?
This property features: Two residential apartments plus a first‑floor commercial space; Commercial bathroom is not a full bath; Separate utilities for each unit
