1316 Luzerne St Scranton, PA 18504
- Mixed-use properties
- 1,890 SF
- 0.10 lot acres
Current Use by Public Records
- West Side Flava's / Southern Restaurant (Us)
Property Details for 1316 Luzerne St
- Year built
- 1950
- Lot size
- 0.10 lot acres
- Property size
- 1,890 SF
- Property type
- Mixed-use properties
Description
This exceptional mixed-use property in Scranton, PA, presents a compelling investment opportunity. Located at 1316 Luzerne Street, this 1,890 square foot building sits on a 0.1-acre lot and boasts a thriving convenience store at the front, benefiting from high foot traffic due to its proximity to a local high school. Students provide consistent daily sales of breakfast, lunch, and snacks. The rear of the building houses a commercial kitchen currently operating as a takeout restaurant, offering significant untapped potential for growth through online delivery services such as DoorDash, UberEats, and Grubhub. The property also includes a three-bedroom, one-and-a-half-bathroom apartment, adding to its income-generating capabilities. The strong residential base in the area further supports the restaurant's potential. This property offers a solid 9% cap rate on a $299,000 asking price. The seller is willing to consider creative financing options, making this a truly attractive value-add opportunity for the discerning investor. The combination of a successful convenience store, a growing takeout restaurant, and a residential apartment provides a diversified income stream and significant upside potential. Don't miss this chance to acquire a well-positioned, income-producing property in a desirable location.
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
- -75.68859
- Latitude
- 41.41058
