200 Main Ave Scranton, PA 18504
- Apartment buildings
- 15,000 SF
Current Use by Public Records
- Keystone Court Reporting / Court Reporter
- Pasonick Inc / Home Inspector
- Savory Maza / Restaurant / Lebanese Restaurant
Property Details for 200 Main Ave
- Year built
- 1930
- Property size
- 15,000 SF
- Property type
- Apartment buildings
Description
This Scranton, PA multifamily investment property presents a compelling opportunity. Located at 200 N Main Ave, this three-story, 15,000 square foot building, constructed in 1930, offers a blend of residential and commercial spaces. The property includes eight renovated apartments, each with separate utilities, simplifying management. Adding to the income stream are a ground-floor restaurant and two office spaces. The building boasts a strong pro-forma NOI of $120,303, resulting in a 10.03% pro-forma cap rate. The asking price is $1,199,000, or $109,000 per unit, and $79.93 per square foot. The property is zoned CT019 and presents a value-add investment opportunity in a desirable location within Lackawanna County, zip code 18504. This meticulously renovated building offers a unique mix of residential comfort and commercial profitability, making it an attractive investment for discerning buyers. The property's strong tenant base and diverse income streams contribute to its financial strength and potential for future growth. This is a rare opportunity to acquire a well-maintained, income-producing asset in a thriving Pennsylvania market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Scranton
- County
- Lackawanna
- State
- Pennsylvania
- Longitude
- -75.6786
- Latitude
- 41.4135
