Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail/Office Space Available For Lease Title is generated by Realmo AI

    201 N Washington Ave, Scranton, PA 18503

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    First floor retail or office space available for lease.

    Type:Retail
    Added:
    Jul 17, 2024
    Days on Market:
    684
    Last Refresh:
    May 12 at 9:37 pm

    Property Features for 201 N Washington Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 201 N Washington Ave Contact us

    Available Space 1 $15/Mo

    Size
    7,792 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Albert Guari

    Listing agent Albert Guari License #PA AB065633

    Listing office Mericle Commercial Real Estate Services

    Listing date Jul 17, 2024

    Source Crexi

    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 Mericle Commercial Real Estate Services

    HighLights

    • First floor retail space available for lease
    • Located on corner of N. Washington and Biden Street
    • Formerly Rite Aid store location
    • For retail or office use

    Overview

    Available for lease is a first-floor retail space situated on the corner of N. Washington Avenue and Biden Street. The property was formerly a Rite Aid store location and is suitable for retail or office use.
    Property Profile Location Intelligence

    Current Use by Public Records

    HRT RenewVital Physician Rite Aid Pharmacy Pharmacy Western Union Bank CDReload - Online Bitcoin ... Currency Exchange Service Amazon Hub Counter ... Postal Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.6637484
    Latitude
    41.4081695

    Nearby Similar for Lease

    • $10 SF/Yr
      3,250 SF

      Turnkey Commercial Space in Scranton

      Versatile commercial property suitable for various business needs.
      1805 Sanderson Avenue, Scranton, PA 18509
      View Details
    • $800/Mo
      820 SF

      Scranton Commercial Space Available

      Restaurant space available for lease in Scranton, Pennsylvania.
      902 S Webster Avenue, Scranton, PA 18505
      View Details
    • $2,500/Mo
      2,275 SF

      Main Avenue Commercial Space Available

      Commercial space in a busy central location, suitable for retail/office.
      409 N Main Avenue, Scranton, PA 18504
      View Details
    • $2,200/Mo
      1,750 SF

      Scranton Retail or Office Space

      Commercial space suitable for retail or office use in Scranton.
      409 N Main Avenue, Scranton, PA 18504
      View Details
    • $13 SF/Yr
      26,122 SF

      Downtown Scranton Versatile Commercial Space

      Flexible commercial space suitable for office, retail, or food-service.
      541 Wyoming Avenue, Scranton, PA 18509
      View Details
    • $13 SF/Yr
      26,122 SF

      Downtown Scranton Versatile Commercial Space

      Flexible commercial space suitable for various business types.
      541 Wyoming Avenue, Scranton, PA 18509
      View Details
    • $1,400/Mo
      1,400 SF

      Scranton Commercial Space For Rent

      Commercial space in light industrial area, suitable for various uses.
      337 E Gibson Street, Scranton, PA 18509
      View Details
    • $3,300/Mo
      2,820 SF

      Retail Space in Scranton, PA

      Commercial space for rent in a prime location.
      236 N Main Avenue, Scranton, PA 18504
      View Details
    • $5 SF/Yr
      6,534 SF

      Retail Space in Scranton

      6,534 SF retail space for lease in Scranton.
      302 E Locust Street, Scranton, PA 18505
      View Details
    • $5,000/Mo
      6,200 SF

      Retail Space Near Dunkin Donuts

      6,200 sq ft commercial space next to Dunkin Donuts.
      1337 N Main Avenue, Scranton, PA 18508
      View Details
    • $1,300/Mo
      3,600 SF

      Scranton Commercial Space For Lease

      Commercial space available for lease in Scranton, Pennsylvania.
      1111 Jackson Street, Scranton, PA 18504
      View Details
    • $5 SF/Yr
      9,736 SF

      Scranton Warehouse Space Available

      9,736 SF warehouse for lease in Scranton, PA.
      302 E Locust Street, Scranton, PA 18505
      View Details

    FAQs

    What type of property is this?
    Retail space - First floor retail or office space available for lease.
    Where is this retail space located?
    The property is located at 201 N Washington Ave Scranton, PA.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: First floor retail space available for lease; Located on corner of N. Washington and Biden Street; Formerly Rite Aid store location
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Albert Guari
    Real Estate License ID: PA AB065633
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    201 N Washington Ave, Scranton, PA 18503
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!