148 Adams Ave Scranton, PA 18503
- Commercial real estate
- 11,068 SF
- 0.13 lot acres
Current Use by Public Records
- Wright & Reihner P.C. / Employment Attorney / Labor Relations Attorney
- Mulcahey Danielle M / Attorney
- David J Gromelski / Lawyer
- Gibbons Law Firm / Law Firm
- Buyer's Abstract Inc / Title Company
Property Details for 148 Adams Ave
- Lot size
- 0.13 lot acres
- Property size
- 11,068 SF
- Property type
- Commercial real estate
Description
This exceptional mixed-use property at 148 Adams Ave, Scranton, PA 18503, offers 11,068 square feet across two stories on a 0.13-acre lot. Currently 100% occupied, it features four units including three ground-floor storefronts generating $2,650 in monthly rent. The main office space occupies approximately three-quarters of the building. The building boasts stunning woodwork and is situated in a Federal Opportunity Zone, providing significant tax advantages. Its prime downtown location, near the University of Scranton, Radisson Hotel, and a parking garage, ensures high visibility and accessibility. The permitted commercial zoning allows for flexibility, with potential for expansion up to seven stories and conversion of upper floors into residential units (up to six apartments), creating a substantial return on investment. This presents a unique opportunity to capitalize on Scranton's revitalized downtown area and its thriving commercial and academic sectors. The property's rich history and current strong occupancy make it an attractive investment for both developers and long-term owners.
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
- -75.662345
- Latitude
- 41.406835
