Renovated Mixed-Use Property with
For Sale
$800,000
604 Cedar Ave, Scranton, PA 18505
Five-unit configuration combines apartments, commercial suites, and a dedicated garage within one building.
Property Size6,872 SF
Price / SF$116.41
Days on Market47
Property Features for 604 Cedar Ave
General Information
Standard status
Active
Size
6,872 SF
Additional Details
Road Access
Yes
Multifamily Units
2
Building Details
Year Built
1930
Listing Agency:
Gorilla Real Estate LLC
Listed By:
Stephen Franco · License #RM424988
(570) 252-2242
Source:
Revolvepa
Added: Sep 2
Changed: Oct 13
Last Checked: Oct 5 at 11:06PM
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 Gorilla Real Estate LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6,872-square-foot mixed-use building contains two upstairs apartments, two ground-floor commercial units, and an approximately 20-by-40-foot garage. One apartment is occupied, while the second is undergoing renovation. The commercial spaces include an operating hair salon and a laundromat with a game-of-skill room. A digital sign provides an additional on-site income source.
Built in 1930, the property has undergone several updates, including a roof replacement in approximately 2018, new siding, exterior work, and system improvements. Brand-new laundry machines were installed in approximately 2023. Positioned on a corner along Cedar Ave in Scranton, the building combines residential and commercial components with a separate garage area for additional operational flexibility.
Built in 1930, the property has undergone several updates, including a roof replacement in approximately 2018, new siding, exterior work, and system improvements. Brand-new laundry machines were installed in approximately 2023. Positioned on a corner along Cedar Ave in Scranton, the building combines residential and commercial components with a separate garage area for additional operational flexibility.
Key Highlights
- 6,872‑square‑foot mixed‑use building with 2 apartments and 2 commercial units
- Approximately 20x40 garage included
- Corner property on Cedar Ave in Scranton, PA
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,579
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,391,580
$1.4M
Cap Rate 7%
$993,986
$994.0K
Cap Rate 9%
$773,100
$773.1K
Market Conditions
NOI Build-Up for 6,872 SF
Gross rent
$123.7K $18.00/SF
− Vacancy
−$12.4K −$1.80/SF
EGI
$111.3K $16.20/SF
− OpEx
−$41.7K −$6.07/SF
NOI
$69.6K $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 Rate 5%
$1,391,580
Cap Rate 7%
$993,986
Cap Rate 9%
$773,100
Alternative Uses
Best Use
Mixed Use
$994.0K
$869.7K – $1.16M
NOI $69,579 @ 7.0% cap · market cap 8.70%
Second Best
Retail
$922.6K
$807.3K – $1.08M
NOI $64,580 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$1.74M
$1.53M – $2.03M
NOI $122,097 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Five-unit configuration combines apartments, commercial suites, and a dedicated garage within one building.
Where is this mixed-use property located?
The property is located at 604 Cedar Ave Scranton, PA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 6,872‑square‑foot mixed‑use building with 2 apartments and 2 commercial units; Approximately 20x40 garage included; Corner property on Cedar Ave in Scranton, PA
