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    1316 Luzerne St Scranton, PA 18504
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    1316 Luzerne St Scranton, PA 18504

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    • Grocery and convenience stores
    • 1,890 SF
    Off-Market
    Property ID
    US73-0202278
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • West Side Flava's / Restaurant

    Property Details for 1316 Luzerne St

    Year built
    1950
    Property size
    1,890 SF
    Property type
    Grocery and convenience stores
    Property subtype
    Commercial kitchens

    Description

    This versatile property features a thriving convenience store in the front, a commercial kitchen in the back operating as a takeout restaurant, and an attached 3-bed, 1.5-bath apartment. Perfectly located across from a high school, the store enjoys steady foot traffic from students grabbing breakfas ... t, lunch, and snacks daily.With a strong residential base in the area, the takeout restaurant has untapped potential for growth via delivery platforms like DoorDash, UberEats, and Grubhub.Pro forma net income delivers a solid 9 percent cap rate. The seller is open to creative financing options for the right buyer.Don't miss this income-generating, value-add opportunity--schedule your showing today!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.6885939
    Latitude
    41.4105711

    Comparable in this City

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      Scranton Mixed-Use Investment Opportunity

      Mixed-use property with commercial storefront and residential units for sale.
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      Scranton Mixed-Use Investment Opportunity

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      Scranton Mixed-Use Property - $350K

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      Freestanding Family Dollar Store

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      Scranton Investment Property Package

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    Similar Nearby for Sale

    • $349,000
      Pending

      Scranton Mixed-Use Investment Opportunity

      Mixed-use property with commercial storefront and residential units.
      139 N Main Ave, Scranton, PA 18504
      View Details
    • $349,000
      Pending

      Scranton Mixed-Use Investment Opportunity

      Mixed-use property with commercial storefront and residential units for sale.
      139 N Main Ave, Scranton, PA 18504
      View Details
    • $259,900
      2,298 SF

      Scranton Mixed-Use Investment Opportunity

      Three-unit mixed-use property with storefront and residential apartments.
      240 N Main Ave, Scranton, PA 18504
      View Details
    • $350,000
      1,795 SF

      Scranton Mixed-Use Property - $350K

      Renovated Recovery House, Expansion Potential
      Edwards Ct, Scranton, PA 18504
      View Details
    • $510,521

      Freestanding Family Dollar Store

      Single tenant Family Dollar with recent lease extension.
      1502 Jackson St, Scranton, PA 18504
      View Details
    • $425,000
      3,820 SF

      Scranton Investment Property Package

      Well-maintained multi-family and single-family homes in desirable location.
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    Similar Nearby for Lease

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      Super Walmart Anchored Retail Center

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      Scranton Commercial Space For Lease

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      Scranton Commercial Space For Lease

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      Scranton Retail or Office Space

      Commercial space suitable for retail or office use in Scranton.
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    Scranton, PA 18504
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    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
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