Office Units with Paved
For Sale
$630,000
7 Oakwood Drive, Scranton, PA 18504
SINGLE_FAMILY - Scranton, PA
Property Size3,000 SF
Lot Size0.51 Acres
Price / SF$210
Days on Market92
Property Features for 7 Oakwood Drive
General Information
Property type
Residential
Property subtype
Office
Zoning
C-01
Parking
20
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
N Keyser Ave, turn up Oakwood Drive, property on left.
Standard status
Active
APN
1340101002508
Size
3,000 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
0.509A Oakwood Estates L C-8 Ph II W-03
Tax Annual Amount
13710
Legal Description
0.509A Oakwood Estates L C-8 Ph II W-03
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
paved parking
separate utilities
Building Details
Year built
2006
Floors in Building
1
Number of units
2
Listing Agency:
NASSER REAL ESTATE, INC.
(570) 342-4115
Listed By:
Jim Nasser · License #AB065869
(570) 309-8799
Added: May 18
Changed: Aug 14
Last Checked: Aug 17 at 12:06AM
MLS# SC262264
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.
Built in 2006, this 3,000-square-foot office property is configured for two commercial units with separate utilities. The layout can also be reworked into a single larger suite. One side includes plumbing for a hair salon, while central air conditioning and forced-air natural gas heat support year-round occupancy. Public water and public sewer serve the building, and the property includes paved on-site parking on a 0.509-acre lot.
The property is located at 7 Oakwood Drive in Scranton, Pennsylvania, just off Keyser Ave. C-01 zoning is in place. The flexible configuration supports the office, medical, professional, and other commercial applications identified for the property.
The property is located at 7 Oakwood Drive in Scranton, Pennsylvania, just off Keyser Ave. C-01 zoning is in place. The flexible configuration supports the office, medical, professional, and other commercial applications identified for the property.
Key Highlights
- 3,000 square feet on a 0.509‑acre lot
- Two units with separate utilities; layout can be combined
- Paved on‑site parking
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
$38,552
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
6.12%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two suites can function independently or be combined into one larger commercial space.
Where is this office units 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: 3,000 square feet on a 0.509‑acre lot; Two units with separate utilities; layout can be combined; Paved on‑site parking
