.9+/- acre parcel of raw land located at the lighted intersection of Scott St. and N. Penna. Ave. This site is located in a Qualified Opportunity Zone which allows a developer the ability to defer payment of taxes on capital gains invested in the property, step up the basis in the property after a specified holding period and not pay tax on the appreciation in the property after a specified holding period. Zoned C-3, Wilkes-Barre City’s least restrictive district. Public water, sewer, gas and electric available.
This site is located in a dense infill trade area that is only 250’ away from property occupied by King’s College for parking and a recently constructed dormitory. There are nearly 18,000 people living within a 1-mile radius of the site which is some of the highest population density in the Scranton/Wilkes-Barre MSA. Scott Street is a primary access point to King’s College and the Wilkes-Barre CBD.
