4-Bay Auto
For Sale
$338,000
991 Providence Road, Scranton, PA 18508
Functional automotive facility with service equipment, private restrooms, secure fencing, and parking at the front and rear.
Property Size3,082 SF
Days on Market10
Property Features for 991 Providence Road
General Information
Standard status
Active
Size
3,082 SF
Property subtype
Business
Taxes and HOA fees
Annual Taxes
$7,470
Building Details
Building Size
3,082 SF
Year Built
1975
Listing Agency:
CLASSIC PROPERTIES
(570) 575-3786
Listed By:
Marcy A Curra
Source:
Luxehomesnepa
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 22 at 11:17AM
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 CLASSIC PROPERTIES
Investment Insights
Based on property information with market context.
This 0.62-acre automotive property includes a 3,082-square-foot block-and-concrete building with four drive-in service bays, front and side vehicle access, and seven overhead or access doors. Existing improvements include vehicle lifts, an oil-burning heater, natural gas heat, a parts cleaner, concrete floors, 200+ amp electrical service, public utilities, private restrooms, and a security system. The paved parking area extends across the front and rear, with partial chain-link fencing.
The property has approximately 225 feet of frontage on Providence Road and sits across from Weston Park, about one-half mile from Scranton High School. Downtown Scranton and major roadways are within convenient reach. The building last operated as an automotive facility and is zoned “Other”; permitted uses should be independently verified. The sale includes the land, building, and existing building assets.
The property has approximately 225 feet of frontage on Providence Road and sits across from Weston Park, about one-half mile from Scranton High School. Downtown Scranton and major roadways are within convenient reach. The building last operated as an automotive facility and is zoned “Other”; permitted uses should be independently verified. The sale includes the land, building, and existing building assets.
Key Highlights
- 3,082‑square‑foot block‑and‑concrete building on 0.62 acres
- Four drive‑in service bays with front and side access
- Approximately 225 feet of frontage on Providence Road
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
$28,963
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
8.57%
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%
$579,260
$579.3K
Cap Rate 7%
$413,757
$413.8K
Cap Rate 9%
$321,811
$321.8K
Market Conditions
NOI Build-Up for 3,082 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
$46.2K $15.00/SF
− Vacancy
−$4.9K −$1.58/SF
EGI
$41.4K $13.43/SF
− OpEx
−$12.4K −$4.03/SF
NOI
$29.0K $9.40/SF
Area
Lackawanna County, PA
Vacancy
10.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$579,260
Cap Rate 7%
$413,757
Cap Rate 9%
$321,811
Alternative Uses
Best Use
Retail
$413.8K
$362.0K – $482.7K
NOI $28,963 @ 7.0% cap · market cap 8.57%
Second Best
Industrial
$256.9K
$224.8K – $299.7K
NOI $17,983 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$782.3K
$684.5K – $912.7K
NOI $54,759 @ 7.0% cap · market cap 16.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18508, PA
11,664
Population
5,466
Households
2.1
Avg Household Size
40
Median Age
18%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
1,715
Density / Sq Mi
$44,706
Median Household Income
$31,055
Median Earnings
$1,034
Median Rent
$120,700
Median Home Value
Market
Vacancy Rate% for Industrial 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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- Fezuk's Garage — 416 n main ave, scranton, pa 18504
- OLIVE STREET AUTOMOTIVE SERVICE — 114 W Olive St, Scranton, PA 18508
Frequently Asked Questions
What type of property is this?
Auto shop - Functional automotive facility with service equipment, private restrooms, secure fencing, and parking at the front and rear.
Where is this auto shop located?
The property is located at 991 Providence Road Scranton, PA.
What is the asking price?
The asking price for this property is $338,000.
What are key features of this property?
This property features: 3,082‑square‑foot block‑and‑concrete building on 0.62 acres; Four drive‑in service bays with front and side access; Approximately 225 feet of frontage on Providence Road
