148 Adams AveScranton, PA 18503

For Sale
$1,099,900

Historic Scranton Office Building, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional mixed-use property at 148 Adams Ave, Scranton, PA 18503, offers 11,068 square feet across two stories on a 0.13-acre lot. Currently 100% occupied, it features four units including three ground-floor storefronts generating $2,650 in monthly rent. The main office space occupies approximately three-quarters of the building. The building boasts stunning woodwork and is situated in a Federal Opportunity Zone, providing significant tax advantages. Its prime downtown location, near the University of Scranton, Radisson Hotel, and a parking garage, ensures high visibility and accessibility. The permitted commercial zoning allows for flexibility, with potential for expansion up to seven stories and conversion of upper floors into residential units (up to six apartments), creating a substantial return on investment. This presents a unique opportunity to capitalize on Scranton's revitalized downtown area and its thriving commercial and academic sectors. The property's rich history and current strong occupancy make it an attractive investment for both developers and long-term owners.

Highlights

  • 11,068 square foot mixed-use building on a 0.13-acre lot in Scranton, PA.
  • Currently 100% occupied with four units, including three ground-floor retail spaces generating $2,650 monthly rent.
  • Located in a Federal Opportunity Zone, offering significant tax benefits.
  • Prime downtown location near the University of Scranton, Radisson Hotel, and parking garage.
  • Commercial zoning allows for expansion up to seven stories and potential residential conversion (up to six units).

Property Details for 148 Adams Ave

Property type
Other office properties, Other mixed-use properties
Square Feet
11,068 SF
Stories
2
Lot Size (sq. ft)
5,663 SF
Units
4

Location Insight

City
Scranton
County
Lackawanna
State
Pennsylvania
Latitude
41.406835
Longitude
-75.662345
148 Adams Ave, Scranton, Pennsylvania

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148 Adams Ave
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