Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    407 6Th Ave Scranton, PA 18503
    Back to Search
    Property profile & analytics

    407 6Th Ave, Scranton, PA 18503

    View on Map
    • Retail properties & Spaces
    • 3,000 SF
    • 0.28 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 407 6Th Ave

    Year built
    1970
    Lot size
    0.28 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Auto shops

    Description

    This 3,000 square foot auto shop in Scranton, Pennsylvania, presents a lucrative investment opportunity. Located on a corner lot (0.28 acres) in a high-traffic area, this single-tenant property boasts a C-G general commercial zoning designation, allowing for diverse business applications. The building, constructed in 1970 and renovated in the same year, features four bays, two offices with separate entrances, and two restrooms. Ample parking is provided by a newly fenced lot. Recent improvements (December 2023) include a new roof (shingles, flashing, and gutters), updated electrical and plumbing systems, new work lighting, and new overhead doors (9'-12' height). The interior and exterior have been freshly painted, and a security camera system is in place. Two additional lots (25x150 and 25x83.5) are included in the sale. The asking price is $389,000, translating to $129.67 per square foot. This property is a turnkey operation ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.671
    Latitude
    41.4122

    Comparable in this City

    • Value Estimation by Request
      3,400 SF

      119 Jefferson Ave

      Retail properties & Spaces
      119 Jefferson Ave, Scranton, PA 18503
      View Details
    • Value Estimation by Request
      0.44 Acres

      120 Adams Ave

      Retail properties & Spaces
      120 Adams Ave, Scranton, PA 18503
      View Details
    • Value Estimation by Request
      3,800 SF

      119 Jefferson Ave

      Restaurants
      119 Jefferson Ave, Scranton, PA 18503
      View Details
    • Value Estimation by Request

      201 Washington Ave

      Retail properties & Spaces
      201 Washington Ave, Scranton, PA 18503
      View Details
    • Value Estimation
      $1,690,000
      1.17 Acres

      502 7th Ave

      RESTAURANT
      502 7th Ave, Scranton, PA 18503-2100
      View Details
    • Value Estimation by Request
      12.26 Acres

      226 Lackawanna Ave

      REGIONAL SHOPPING CENTER, MALL
      226 Lackawanna Ave, Scranton, PA 18503
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      70,000 SF

      Redevelopment Opportunity with Parking

      Prime location in designated FOZ and KIZ with parking.
      133 Penn Ave, Scranton, PA 18503
      View Details
    • Contact for pricing
      Pending

      Mixed-Use Building in Downtown Scranton

      Mixed-use building near Lackawanna Avenue, prime investment opportunity.
      116 Franklin Ave, Scranton, PA 18503
      View Details
    • $2,199,000
      18,000 SF

      Prime Scranton Mixed-Use Investment

      Luxury Apartments & Office Space, High Occupancy
      329 Penn Ave, Scranton, PA 18503
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr

      Downtown Retail and Office Space

      Retail and office units in downtown business district.
      309 N Washington Ave, Scranton, PA 18503
      View Details
    • Contact for pricing

      Retail/Office Space Available For Lease

      First floor retail or office space available for lease.
      201 N Washington Ave, Scranton, PA 18503
      View Details
    • $650 /Mo
      19,200 SF

      Flexible Office and Coworking Space

      Varied office options with amenities in Scranton, PA.
      116 N Washington St, Scranton, PA 18503
      View Details
    • Contact for pricing
      35,000 SF

      Downtown Scranton Office/Medical Space

      Centrally located, modern office space suitable for various uses.
      220 Penn Ave, Scranton, PA 18503
      View Details
    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.
    407 6Th Ave
    Scranton, PA 18503
    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
    407 6Th 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!