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    401 Adams Ave Scranton, PA 18510

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    For Sale
    Contact for pricing

    97,481 SF Six-Story Building, $2.99M

    Property size:
    97,481 SF

    Property Features for 401 Adams Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    97,481 SF

    Building Details

    Buildings
    1
    Stories
    6

    We can help!

    Listing Contact
    Albert Guari
    Albert Guari

    Listing Agency: Mericle Commercial Real Estate Services Listing Agent: Albert Guari

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional six-story, 97,481 square foot traditional office building located at 401 Adams Avenue in Scranton, Pennsylvania, presents a compelling redevelopment opportunity. Currently zoned D (City Downtown Mixed Use), this property offers significant potential for adaptive reuse. The building's substantial size, situated on a parcel identified as part of PIN: 1458401001701, makes it ideal for a variety of projects. The asking price of $2,990,000 represents a remarkable value for a building of this scale. While currently configured as multi-tenant office space, the property's zoning allows for exploration of alternative uses, including the possibility of conversion to multi-family residential units. Please note that the property will be subdivided prior to closing, and property taxes are to be determined. This is a unique chance to acquire a significant asset in Scranton's vibrant downtown core. The building's location within Lackawanna County, PA, zip code 18510, provides excellent access to local amenities and transportation networks. This is a prime opportunity for investors and developers seeking a large-scale project with substantial upside potential. Serious inquiries are encouraged.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Firestone Alan N ... Dental Office Stofko Albert E ... Dental Office Lackawanna College Commons ... College Tara Pagotto Physician Ashley L. Davis, ... Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.659466979955
    Latitude
    41.409710899804

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    FAQs

    What type of property is this?
    Office Property / Space - 97,481 SF Six-Story Building, $2.99M
    Where is this office property / space located?
    The property is located at 401 Adams Ave Scranton, PA.
    What is the asking price?
    The asking price for this property is $2,990,000.
    What are key features of this property?
    This property features: $2,990,000 asking price for a 97,481 square foot office building.; Located at 401 Adams Ave, Scranton, PA 18510.; Six-story building zoned D (City Downtown Mixed Use) in Lackawanna County.
    (570) 823-1100 Call to check price and availability
    Request Owner's contact information
    401 Adams Ave Scranton, PA 18510
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    Scranton, PA 18510
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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
    401 Adams Ave Scranton, PA 18510
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Albert Guari
    Albert Guari
    Real Estate License ID: AB065633
    (570) 823-1100
    Learn more
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