1618 Main Ave Scranton, PA 18508
- Investment properties
- 0.11 lot acres
Current Use by Public Records
- The Law Office of Cara N. Phillips, LLC / Family Law Attorney
- Eugene W Long Insurance & Investments / Stock Broker
- Masterson Accounting & Tax Services / Tax Preparation Service / Accountant
Property Details for 1618 Main Ave
- Lot size
- 0.11 lot acres
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 13416010035
- APU
- 13416010035
Description
This exceptional three-unit mixed-use building at 1618 N Main Avenue in Scranton, PA, presents a rare investment opportunity. The property boasts 3,200 square feet on a 0.11-acre lot and is priced at $249,000. The building features a brand new roof, ensuring long-term cost savings. High-visibility signage enhances its commercial appeal. Inside, you'll find beautiful fixtures, crown molding, and fresh paint throughout, reflecting meticulous upkeep. A substantial three-bedroom apartment occupies the second floor, complete with front and rear balconies and newly constructed back steps. Each of the three units benefits from separate meters and ductless heat/AC systems. A paved driveway leads to a rear parking lot with capacity for approximately five vehicles. The existing commercial units on the first floor each include kitchenettes and bathrooms, presenting a potential for expansion. With necessary approvals, the property could accommodate two additional apartments on the first floor, significantly increasing rental income. The building's quality construction, attractive features, and strong income potential make it a standout investment in the Scranton market. This is a unique chance to acquire a well-maintained, high-return property in a desirable location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $215,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $205,000
- 6.5%
- $215,000
- 7%
- $220,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $215,000
- Geo Method
- $195,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $225,000
- Retail
- $260,000
- Mixed-Use
- $245,000
- Hospitality
- $215,000
- Educational
- $240,000
- Residential Income
- $200,000
- Energy
- $225,000
- Income-Based Land
- $225,000
- Food Service
- $195,000
Location Insight
- Map
- Local Demand
- City
- Scranton
- County
- Lackawanna
- State
- Pennsylvania
- Longitude
- -75.6609
- Latitude
- 41.4343
- CBSA code
- 42540
- CBSA name
- SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA
