Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    702 Prospect Ave Scranton, PA 18505-3788

    • Investment properties
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    $245,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0767730
    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.

    Current Use by Public Records

    • 3 Angels Inc. / Religious Goods Store

    Property Details for 702 Prospect Ave

    Lot size
    0.08 lot acres
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    15620020033
    APU
    15620020033

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.6646
    Latitude
    41.3973
    CBSA code
    42540
    CBSA name
    SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,586
    $3,300
    $11,700
    $15,000
    -
    $3,300
    $11,700
    $15,000

    Comparable in this City

    • Value Estimation
      $60,000
      0.13 Acres

      720 Prospect Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.13 Acres
      720 Prospect Ave, Scranton, PA 18505-1837
      View Details
    • Value Estimation
      $730,000
      0.22 Acres

      509 Beech St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.22 Acres
      509 Beech St, Scranton, PA 18505-1846
      View Details
    • Value Estimation
      $245,000
      0.15 Acres

      2734 Birney Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.15 Acres
      2734 Birney Ave, Scranton, PA 18505-3128
      View Details
    • Value Estimation
      $240,000
      0.04 Acres

      613 Cedar Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.04 Acres
      613 Cedar Ave, Scranton, PA 18505-1211
      View Details
    • Value Estimation
      $175,000
      0.17 Acres

      231 Pittston Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.17 Acres
      231 Pittston Ave, Scranton, PA 18505-1152
      View Details
    • Value Estimation
      $250,000
      0.07 Acres

      1327 Pittston Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.07 Acres
      1327 Pittston Ave, Scranton, PA 18505-1536
      View Details

    Similar Nearby for Sale

    • $499,900
      14,291 SF

      Scranton Mixed-Use Commercial Property

      High-traffic corner lot, established business.
      1020 Hemlock St, Scranton, PA 18505
      View Details
    • $159,900
      Pending

      Scranton Commercial Building with Residence

      Corner commercial building with business, storage, and residential space.
      1429 Prospect Ave, Scranton, PA 18505
      View Details
    • Contact for pricing
      10,565 SF

      Modern Scranton Medical Building

      Customizable Medical Space, Prime Location
      2601 Stafford Ave, Scranton, PA 18505
      View Details
    • $199,000
      Pending

      Rented Duplex in Scranton, PA

      Fully rented duplex with separate utilities and newer roof.
      717 E Elm St, Scranton, PA 18505
      View Details
    • $850,000
      6,900 SF

      Scranton Retail/Automotive Property For Sale

      6,900 SF retail/automotive property with high traffic exposure.
      1001 S Washington Ave, Scranton, PA 18505
      View Details
    • Contact for pricing

      Prime Land Approved Warehouse Development

      36.91 acres approved for a Class A warehouse.
      820 Davis St, Scranton, PA 18505
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      2,630 SF

      Office Space Available For Rent

      2630 square feet of office space for lease.
      820 S Washington Ave, Scranton, PA 18505
      View Details
    • $5 SF/Yr
      6,534 SF

      Retail Space in Scranton

      6,534 SF retail space for lease in Scranton.
      302 E Locust St, Scranton, PA 18505
      View Details
    • $0.01 SF/Yr

      Commercial Land for Lease

      Commercially zoned vacant land available for lease in Scranton, PA.
      1212 Cedar Ave, Scranton, PA 18505
      View Details
    • $500 /Mo
      637 SF

      Scranton Garage Space For Lease

      637 SF garage space for lease near I-81.
      302 E Locust St, Scranton, PA 18505
      View Details
    • Contact for pricing
      5,195 SF

      Scranton Warehouse Space Available

      5,195 SF warehouse space for rent in Scranton.
      2200 Stafford Ave, Scranton, PA 18505
      View Details
    • $1,200 /Mo
      800 SF

      Retail Space in High-Traffic Area

      800 SF retail space with ample parking in Scranton, PA.
      1730 Pittston Ave, Scranton, PA 18505
      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.
    702 Prospect Ave
    Scranton, PA 18505-3788
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.