Corner Property Ready for
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1941 Boulevard Avenue, Scranton, PA 18509
Corner property suitable for various businesses with high visibility.
Property Size1,700 SF
Price / SF$147
Days on Market734
Property Features for 1941 Boulevard Avenue
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Special Purpose, Land
Listing Agency:
Coldwell Banker Town & Country Real Estate
Listed By:
vinod patel · License #PA
Source:
Crexi
Added: Aug 27, 2024
Changed: Aug 13
Last Checked: Aug 28 at 9:30PM
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 Coldwell Banker Town & Country Real Estate
Investment Insights
Based on property information with market context.
Located at the corner of Deacon and Boulevard Avenue, this 1,700 square-foot property is ready for a convenience store or other business. The property features new signage, new air conditioning and heating, updated electrical work, new paint, and new lights. It benefits from excellent traffic and pedestrian activity and includes parking and a security camera. The location is suitable for various businesses, including a convenience, beer, vape, or smoke store. The ceiling height is up to 8 feet. This corner property offers high visibility to local traffic.
Key Highlights
- Opportunity to own a building instead of renting.
- Excellent high‑traffic corner location with parking and visibility.
- Ready to open convenience store or other business with new infrastructure (sign, A/C & heating, electrical, paint, lights).
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
$18,322
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
7.33%
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%
$366,440
$366.4K
Cap Rate 7%
$261,743
$261.7K
Cap Rate 9%
$203,578
$203.6K
Market Conditions
NOI Build-Up for 1,700 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
$25.5K $15.00/SF
− Vacancy
−$1.1K −$0.63/SF
EGI
$24.4K $14.37/SF
− OpEx
−$6.1K −$3.59/SF
NOI
$18.3K $10.78/SF
Area
Lackawanna County, PA
Vacancy
4.20%
Lease Rate
$15.00 /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%
$366,440
Cap Rate 7%
$261,743
Cap Rate 9%
$203,578
Alternative Uses
Best Use
Specialty Retail
$261.7K
$229.0K – $305.4K
NOI $18,322 @ 7.0% cap · market cap 7.33%
Second Best
Retail
$228.2K
$199.7K – $266.3K
NOI $15,976 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$431.5K
$377.6K – $503.4K
NOI $30,204 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
792
Businesses Nearby
28k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Groceries 20%
Dining 5%
Home Improvements & Furnishings 2%
Dollar Tree
Shops & Services
13,511 visits/mo
0.5 miles
Gulf Oil
Shops & Services
6,612 visits/mo
0.5 miles
Fine Wine & Good Spirits
Groceries
5,618 visits/mo
0.5 miles
SUBWAY
Dining
1,494 visits/mo
0.5 miles
Rent A Center
Home Improvements & Furnishings
448 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Corner property suitable for various businesses with high visibility.
Where is this grocery and convenience store located?
The property is located at 1941 Boulevard Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Opportunity to own a building instead of renting.; Excellent high‑traffic corner location with parking and visibility.; Ready to open convenience store or other business with new infrastructure (sign, A/C & heating, electrical, paint, lights).
