116 Franklin Ave
4,044 SF 100% Leased Retail Building Scranton, PA 18503 $329,900 ($82/SF)
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EXECUTIVE SUMMARY
Prime Downtown Scranton Investment Opportunity!
Seize this rare opportunity to invest in the heart of Scranton's rapidly growing real estate market! This 4,000+ Sq Ft mixed-use building, ideally located just off Lackawanna Avenue, is surrounded by thriving businesses, popular restaurants, and ongoing revitalization efforts. With Scranton's increasing demand for commercial and residential spaces, this property presents high-income potential and endless possibilities. Adding to the area's appeal, Scranton is set to benefit from the highly anticipated high-speed rail service connecting the city to New York City. With federal approval granted in early 2025, this project will reestablish passenger rail service, offering three daily round trips. Trains will reach speeds of up to 110 mph, connecting Scranton to key hubs like Morristown, Newark, and New York Penn Station. This long-awaited transportation upgrade is expected to continue increasing property values, attract new businesses, and further enhance Scranton's appeal as a prime investment location. This property offers incredible flexibility, making it ideal for retail, office, apartments, or short-term rentals. Downtown Scranton continues to experience high occupancy rates, with rental demand surging and property values on the rise. Its prime location places it within a short distance of major attractions, including The University of Scranton, medical centers, and key transportation hubs. Additionally, downtown Scranton's ongoing revitalization efforts and economic development initiatives (such as Federal Opportunity Zone), make this a particularly strategic investment. With the future arrival of high-speed rail, demand for housing, office space, and retail is expected to skyrocket, ensuring strong returns for forward-thinking investors.
Seize this rare opportunity to invest in the heart of Scranton's rapidly growing real estate market! This 4,000+ Sq Ft mixed-use building, ideally located just off Lackawanna Avenue, is surrounded by thriving businesses, popular restaurants, and ongoing revitalization efforts. With Scranton's increasing demand for commercial and residential spaces, this property presents high-income potential and endless possibilities. Adding to the area's appeal, Scranton is set to benefit from the highly anticipated high-speed rail service connecting the city to New York City. With federal approval granted in early 2025, this project will reestablish passenger rail service, offering three daily round trips. Trains will reach speeds of up to 110 mph, connecting Scranton to key hubs like Morristown, Newark, and New York Penn Station. This long-awaited transportation upgrade is expected to continue increasing property values, attract new businesses, and further enhance Scranton's appeal as a prime investment location. This property offers incredible flexibility, making it ideal for retail, office, apartments, or short-term rentals. Downtown Scranton continues to experience high occupancy rates, with rental demand surging and property values on the rise. Its prime location places it within a short distance of major attractions, including The University of Scranton, medical centers, and key transportation hubs. Additionally, downtown Scranton's ongoing revitalization efforts and economic development initiatives (such as Federal Opportunity Zone), make this a particularly strategic investment. With the future arrival of high-speed rail, demand for housing, office space, and retail is expected to skyrocket, ensuring strong returns for forward-thinking investors.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
4,044 SF
Building Class
C
Year Built
1920
Price
$329,900
Price Per SF
$82
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.33
Lot Size
0.07 AC
Opportunity Zone
Yes
Zoning
C - Commercial
Frontage
40 FT on Franklin Ave
AMENITIES
- 24 Hour Access
- Corner Lot
- Signage
- Tenant Controlled HVAC
- Air Conditioning
- Smoke Detector
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (76)
NEARBY MAJOR RETAILERS
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PROPERTY TAXES
Parcel Number | 15626020008 | Improvements Assessment | $10,000 |
Land Assessment | $11,054 | Total Assessment | $21,054 |