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318 Penn Ave

6,448 SF 22% Leased Office Building Scranton, PA 18503 £861,111 (£134/SF)

Investment Highlights

  • Near the heart of Scranton's downtown area!
  • Providing excellent flexibility for a buyer who might need space (first floor options)
  • Within close proximity to popular restaurants, bars, Marketplace at Steamtown and more

Executive Summary

Fully leased and renovated building in the heart of downtown, which includes parking for twenty-six cars (parking lot is directly across the street and is included in the purchase). The property features three tenants (two commercial and one penthouse apartment). Separate utilities and lucrative leases are signed for each tenant, however, a buyer who is interested in occupying the building can stay on the first floor, providing excellent flexibility. Executive offices and conference space are on the first and second floors. The luxurious and spacious penthouse apartment was recently renovated with bright and airy features, including high ceilings, hardwoods, new paint, new carpeting, new stainless steel appliances, washer and dryer, walk-in closets, two bathrooms, intercom/remote unlock feature for front door, plenty of storage and much, much more… within steps of shopping and dining. Close to the Scranton Expressway and I-81 for easy access.

Property Facts

Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Office/Residential
Building Size
6,448 SF
Building Class
C
Year Built
1945
Price
£861,111
Price Per SF
£134
Percent Leased
22%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
2,149 SF
Building FAR
2.47
Land Acres
0.06 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
26 Spaces (4.03 Spaces per 1,000 SF Leased)

Amenities

  • Signage
Walk Score ®
Walker's Paradise (91)
Bike Score ®
Very Bikeable (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
14583020006
Land Assessment
£8,640
Improvements Assessment
£8,679
Total Assessment
£17,319
  • Listing ID: 31481450

  • Date on Market: 11/04/2024

  • Last Updated:

  • Address: 318 Penn Ave, Scranton, PA 18503

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