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Karen Scarpa

[email protected] +1(732) 631-4514

$ 1,099,900

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148 ADAMS AVE Scranton, PA 18503

11,068 SqFt

UPDATED:

10/18/2024 01:19 PM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 11,068 sqft

Price per Sqft $99

MLS Listing ID PALW2000382

Originating Board BRIGHT

Year Built 1930

Annual Tax Amount $14,078

Tax Year 2024

Lot Size 5,662 Sqft

Acres 0.13

Property Description

Welcome to the newly revitalized downtown Scranton, PA, where a rare real estate opportunity awaits. Overlooking the historic city square, this property offers a chance to own a piece of history with the potential to develop up to seven stories. Featuring stunning woodwork and craftsmanship, the building has long served as home to one of the area's top law firms, offering a sophisticated atmosphere. With 11,068 sq ft, it is located within a Federal Opportunity Zone and includes three storefronts. For developers, the property offers flexibility?maintain the storefronts, downsize the main office (currently occupying 3/4 of the space), and transform the upper floors into up to six apartments, all while keeping the retail and portion of the office space active. This would create a solid return on investment for this prime downtown gem. Positioned near iconic landmarks like the historic Radisson Hotel and a parking garage away from the Hilton Hotel, the building enjoys high visibility and proximity to some of Scranton's most recognizable spots. Just one block from the University of Scranton, it's perfectly suited for businesses catering to both commerce and academia. Seize the chance to be part of downtown Scranton's resurgence. Current rents for the storefronts are $1,000, $650, and $1,000, with the remaining 3/4 occupied by the current owner.

Location

State PA

County Lackawanna

Area Scranton City (13634)

Zoning COMMERCIAL

Interior

Hot Water Natural Gas

Heating Forced Air

Cooling Central A/C

Heat Source Natural Gas, Electric

Exterior

Waterfront N

Water Access N

Roof Type Rubber

Accessibility 2+ Access Exits

Parking Type Public Garage, On Street

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Scranton

Others

Tax ID 15635020030

Ownership Fee Simple

SqFt Source Estimated

Special Listing Condition Standard

Listed by Kyle Savage • Christian Saunders Real Estate

Karen Scarpa

Agent | RMFR8838475

+1(732) 631-4514

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East Brunswick, NJ

Karen Scarpa

Karen Scarpa

148 ADAMS AVE Scranton, PA 18503

Key Details

Location

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Building

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