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    1790 Keyser Ave Scranton, PA 18508-1248

    • Super regional malls
    • 23.42 lot acres
    OFF-MARKET
    Last Sale
    Sep 23, 2021
    $141,745
    Value Estimations
    $145,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-4108738
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Keyser Oak Shopping Center / Shopping Mall
    • Ollie's Bargain Outlet / Hardware Store / Home Goods Store
    • State Liquor Store / Liquor Store
    • American Freight Furniture and Mattress / Mattress Store / Discount Store

    Property Details for 1790 Keyser Ave

    Lot size
    23.42 lot acres
    Property type
    Super regional malls
    APN
    12319030002
    APU
    12319030002

    Description

    This exceptional investment opportunity presents 15,600 square feet of vacant retail space within the thriving Keyser Oak Shopping Center in Scranton, PA. Located at 1790 N Keyser Ave, at the highly trafficked intersection of Keyser Ave and North Scranton Expressway (Route 11), this grocery-anchored center boasts a total of 170,000 square feet across two buildings. Strong existing tenants include Gerrity's Supermarket (with Pharmacy), Ollie's Bargain Outlet, Just Cabinets, Dollar Tree, and Goodwill. The center benefits from excellent visibility and accessibility, situated at a four-way interchange to Route 11, ensuring high traffic volume. North Keyser Avenue sees 14,600 vehicles per day, while the North Scranton Highway boasts over 33,000 VPD. Ample parking is available. The surrounding area is densely populated, with a three-mile radius encompassing nearly 72,000 people and average household incomes exceeding $54,000 annually. This prime location, coupled with the existing strong tenant mix, presents a compelling opportunity for expansion or new retail ventures. The property offers significant potential for growth and return on investment within a vibrant commercial corridor. The available space is ideal for a variety of retail uses. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $145,000
      ML approach
      $105,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.6685
    Latitude
    41.4435
    CBSA code
    42540
    CBSA name
    SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $152,285
    $333,900
    $0.00
    $333,900
    -
    $333,900
    $0.00
    $333,900

    Comparable in this City

    • Value Estimation
      $330,000
      3.77 Acres

      1831 Keyser Ave

      REGIONAL SHOPPING CENTER, MALL • 3.77 Acres
      1831 Keyser Ave, Scranton, PA 18508-1223
      View Details
    • Value Estimation
      $340,000
      5.33 Acres

      Keyser Ave At Oak St

      REGIONAL SHOPPING CENTER, MALL • 5.33 Acres
      Keyser Ave At Oak St, Scranton, PA 18508
      View Details
    • Value Estimation
      $1,825,000
      1.52 Acres

      2243 Scranton Carbondale Hwy

      REGIONAL SHOPPING CENTER, MALL • 1.52 Acres
      2243 Scranton Carbondale Hwy, Scranton, PA 18508-1151
      View Details
    • Value Estimation
      $335,000
      1.70 Acres

      233 Scr Cdale Hwy

      REGIONAL SHOPPING CENTER, MALL • 1.70 Acres
      233 Scr Cdale Hwy, Scranton, PA 18508
      View Details
    • Value Estimation
      $375,000
      12.29 Acres

      2nd Commerce Blvd

      REGIONAL SHOPPING CENTER, MALL • 12.29 Acres
      2nd Commerce Blvd, Scranton, PA 18508
      View Details
    • Value Estimation
      $365,000
      7.23 Acres

      5 Morgan Hwy

      REGIONAL SHOPPING CENTER, MALL • 7.23 Acres
      5 Morgan Hwy, Scranton, PA 18508-2641
      View Details

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    Scranton, PA 18508-1248
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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