Duplex With Commercial
For Sale
$359,900
619-621 Mineral Ave, Scranton, PA 18509
Two rented apartments accompany a leased commercial garage with automotive equipment and a separate detached garage.
Property Size1,354 SF
Price / SF$265.81
Days on Market42
Property Features for 619-621 Mineral Ave
General Information
Standard status
Active
Size
1,354 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Service Bays
1
Amenities
detached aluminum garage
office
full bathroom
laundry
eat in kitchen
Bishamon overhead automobile power lift
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
C21 Jack Ruddy Real Estate
(570) 344-6724
Listed By:
James W Gilhooley · License #RS373019
Source:
Revolvepa
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 26 at 5:44AM
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 C21 Jack Ruddy Real Estate
Investment Insights
Based on property information with market context.
This 1950 property combines a two-unit residential component with automotive-related commercial space. The apartments total 1,354 square feet: one 676-square-foot, one-bedroom unit and one 678-square-foot, two-bedroom unit, each with one bathroom, laundry facilities, and an eat-in kitchen. Both apartments are occupied by long-term tenants.
The 1,077-square-foot commercial garage is rented and includes an office, a full bathroom, a half bathroom, and a Bishamon overhead automobile lift in one bay. The bay accommodates two automobiles. A detached aluminum garage provides additional storage or vehicle capacity for up to four automobiles. The property is located at 619-621 Mineral Avenue in Scranton, Pennsylvania.
The 1,077-square-foot commercial garage is rented and includes an office, a full bathroom, a half bathroom, and a Bishamon overhead automobile lift in one bay. The bay accommodates two automobiles. A detached aluminum garage provides additional storage or vehicle capacity for up to four automobiles. The property is located at 619-621 Mineral Avenue in Scranton, Pennsylvania.
Key Highlights
- Two residential units totaling 1,354 square feet
- 676‑square‑foot one‑bedroom apartment and 678‑square‑foot two‑bedroom apartment
- Both apartments are fully rented to long‑term tenants
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
$12,724
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
3.54%
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%
$254,480
$254.5K
Cap Rate 7%
$181,771
$181.8K
Cap Rate 9%
$141,378
$141.4K
Market Conditions
NOI Build-Up for 1,354 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
$20.3K $15.00/SF
− Vacancy
−$2.1K −$1.58/SF
EGI
$18.2K $13.43/SF
− OpEx
−$5.5K −$4.03/SF
NOI
$12.7K $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%
$254,480
Cap Rate 7%
$181,771
Cap Rate 9%
$141,378
Alternative Uses
Best Use
Retail
$181.8K
$159.1K – $212.1K
NOI $12,724 @ 7.0% cap · market cap 3.54%
Second Best
Multifamily LT 5
$159.5K
$139.6K – $186.1K
NOI $11,166 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$343.7K
$300.7K – $401.0K
NOI $24,057 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Service bays
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,003
Businesses Nearby
Explore this area
Business Placement
Demographics for 18509, PA
13,720
Population
6,017
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
3.0 sq mi
ZIP Area
4,573
Density / Sq Mi
$52,206
Median Household Income
$31,657
Median Earnings
$991
Median Rent
$176,300
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?
Duplex - Two rented apartments accompany a leased commercial garage with automotive equipment and a separate detached garage.
Where is this duplex located?
The property is located at 619-621 Mineral Ave Scranton, PA.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Two residential units totaling 1,354 square feet; 676‑square‑foot one‑bedroom apartment and 678‑square‑foot two‑bedroom apartment; Both apartments are fully rented to long‑term tenants
