Active
116 Franklin Avenue
Scranton PA, 18503
$329,900
$81.58 per sqft
Active
2 Baths
4,044 sqft
Multi-family
Built in 1920
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.
SC250549
MLSⓇ ID
February 8, 2025
Listed
February 12, 2025
Updated
Interior Features
Total Stories
2
Total Bathrooms
2
Full Bathrooms
1
Half Bathrooms
1
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.07 Acres
Sewer
Public Sewer
School Information
School District
Scranton
Other Property Details
Taxes
$7,675
Tax Frequency
Annually
Garage
No
View
No
County
Lackawanna
Water Source
Public
Pool
No
Zoning
CT
Listed by Kyle Savage with Christian Saunders Real Estate
Listing Contact:
The IDX display contains information sourced from the Greater Scranton Board of REALTORS® as of 2/12/2025. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
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Data last updated on 2/12/2025 at 7:34 PM UTC