36-Unit Apartment
For Sale
$3,650,000
925 Prospect Avenue, Scranton, PA 18505
Commercial Sale, Scranton, PA
Property Size42,050 SF
Lot Size0.97 Acres
Price / SF$86.80
Days on Market227
Property Features for 925 Prospect Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C06
Rooms
Basement
Parking
17
Basement
Full
Lot features
City Lot
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From Moosic Ave to right on Prospect Ave follow to the corner of Prospect and Beech
Standard status
Active
APN
15620010010
Size
42,050 SF
Lot size
0.97 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
290X145 Pawnee Coal Co L 1Inc7 B 32 W-19
Tax Annual Amount
27693
Legal Description
290X145 Pawnee Coal Co L 1Inc7 B 32 W-19
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
on-site laundry facilities
community kitchen
library
wall-to-wall carpeting
Building Details
Year built
1897
Floors in Building
3
Number of units
37
Flooring type
Carpet, Tile
Building materials
Brick, Stone
Roof type
Rolled Hot Mop, Asphalt
Listing Agency:
ERA One Source Realty · ERA Real Estate
(570) 587-9999
Listed By:
Leah Gianacopoulos · License #RS325414
(570) 947-9250
Added: Feb 5
Changed: Sep 2
Last Checked: Sep 20 at 6:06PM
MLS# SC260464
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 36-unit apartment property occupies a 42,050-square-foot building on 0.97 acres and is fully occupied. The structure dates to 1897 and was adapted from a former high school, retaining brick and stone construction alongside modern residential improvements. Unit layouts include one- and two-bedroom apartments with open living areas, modern kitchens, large closets, central air, natural-gas heating, and individually controlled climate systems. Select residences are handicap accessible.
Shared facilities include on-site laundry, a community kitchen, library, and carpet and tile flooring. The property also provides over 17 on-site parking spaces. Separate commercial areas contain office space and a gym. Public water and public sewer serve the building, which is located near downtown Scranton with access to I-81, hospitals, parks, shopping, and essential services.
Shared facilities include on-site laundry, a community kitchen, library, and carpet and tile flooring. The property also provides over 17 on-site parking spaces. Separate commercial areas contain office space and a gym. Public water and public sewer serve the building, which is located near downtown Scranton with access to I-81, hospitals, parks, shopping, and essential services.
Key Highlights
- 36‑unit multifamily property with full occupancy
- 42,050‑square‑foot building on 0.97 acres
- One- and two‑bedroom apartment mix
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
$324,177
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
8.88%
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%
$6,483,540
$6.5M
Cap Rate 7%
$4,631,100
$4.6M
Cap Rate 9%
$3,601,967
$3.6M
Market Conditions
NOI Build-Up for 42,050 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
$625.7K $14.88/SF
− Vacancy
−$36.3K −$0.86/SF
EGI
$589.4K $14.02/SF
− OpEx
−$265.2K −$6.31/SF
NOI
$324.2K $7.71/SF
Area
Lackawanna County, PA
Vacancy
5.80%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
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%
$6,483,540
Cap Rate 7%
$4,631,100
Cap Rate 9%
$3,601,967
Alternative Uses
Best Use
Mixed Use
$6.08M
$5.32M – $7.10M
NOI $425,756 @ 7.0% cap · market cap 11.66%
Second Best
Apartment 5plus
$4.63M
$4.05M – $5.40M
NOI $324,177 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$10.67M
$9.34M – $12.45M
NOI $747,115 @ 7.0% cap · market cap 20.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
36
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
908
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with mixed one- and two-bedroom layouts, shared amenities, parking, and commercial space.
Where is this apartment building located?
The property is located at 925 Prospect Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 36‑unit multifamily property with full occupancy; 42,050‑square‑foot building on 0.97 acres; One- and two‑bedroom apartment mix
