Mixed-Use Office-Retail
For Sale
$630,000
7 Oakwood Drive, Scranton, PA 18504
Modern office and retail building offers flexible space for two separate units or one larger suite.
Property Size3,000 SF
Days on Market164
Property Features for 7 Oakwood Drive
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$13,710
Building Details
Building Size
3,000 SF
Year Built
2006
Construction
Modern
Listing Agency:
NASSER REAL ESTATE, INC.
Listed By:
Jim Nasser · License #AB065869
(570) 309-8799
Source:
Luxehomesnepa
Added: May 18
Changed: Oct 25
Last Checked: Oct 27 at 12:11AM
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 NASSER REAL ESTATE, INC.
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Investment Insights
Based on property information with market context.
This modern office/retail building features a functional layout designed for two units with separate utilities, or can be opened up to create one larger unit. The right-side unit is plumbed for a hair salon, providing additional build-out flexibility for a range of commercial uses.
The property includes ample paved parking and is conveniently located just off of Keyser Ave.
Available as a for-sale offering, the building is sized for adaptable occupancy, with utilities separated to support independent operations within the existing unit configuration.
The property includes ample paved parking and is conveniently located just off of Keyser Ave.
Available as a for-sale offering, the building is sized for adaptable occupancy, with utilities separated to support independent operations within the existing unit configuration.
Key Highlights
- Modern office/retail building with functional space for 2 units or one larger suite
- 2‑unit setup includes separate utilities
- Right side unit is plumbed for a hair salon
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,552
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,040
$771.0K
Cap Rate 7%
$550,743
$550.7K
Cap Rate 9%
$428,356
$428.4K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$60.1K $20.04/SF
− Vacancy
−$8.7K −$2.91/SF
EGI
$51.4K $17.13/SF
− OpEx
−$12.9K −$4.28/SF
NOI
$38.6K $12.85/SF
Area
Lackawanna County, PA
Vacancy
14.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,040
Cap Rate 7%
$550,743
Cap Rate 9%
$428,356
Alternative Uses
Best Use
Office B
$550.7K
$481.9K – $642.5K
NOI $38,552 @ 7.0% cap · market cap 6.12%
Second Best
Healthcare Medical
$505.4K
$442.2K – $589.6K
NOI $35,378 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$761.5K
$666.3K – $888.4K
NOI $53,302 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
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Business Placement
Demographics for 18504, PA
21,267
Population
10,017
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
10.2 sq mi
ZIP Area
2,085
Density / Sq Mi
$52,542
Median Household Income
$38,439
Median Earnings
$970
Median Rent
$144,200
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Modern office and retail building offers flexible space for two separate units or one larger suite.
Where is this office unit located?
The property is located at 7 Oakwood Drive Scranton, PA.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Modern office/retail building with functional space for 2 units or one larger suite; 2‑unit setup includes separate utilities; Right side unit is plumbed for a hair salon
