Scranton, Pennsylvania, offers a diverse range of commercial real estate opportunities, with 59 listings available for sale. Investing in commercial real estate in Scranton can be a smart move, as the city serves as the cultural and economic center of Northeastern Pennsylvania, with a strong presence of industries such as healthcare, academia, and manufacturing. Commercial real estate in Scranton can represent a variety of investments, including office buildings, retail spaces, and industrial properties. The city's infrastructure, including the County of Lackawanna Transit System and the Wilkes-Barre/Scranton International Airport, makes it an attractive location for businesses. Additionally, Scranton's educational institutions, such as the University of Scranton and Marywood University, provide a skilled workforce, while its recreational activities, like skiing at Montage Mountain Ski Resort, offer a great quality of life. The city's rich history and cultural attractions, including the Everhart Museum and the Houdini Museum, also make it a great place to visit and do business.
Scranton's commercial real estate market is characterized by a mix of old and new properties, with average prices ranging from $158 USD per square foot. The average size of commercial properties in Scranton is 28,694 square feet, with the largest properties reaching up to 315,000 square feet. Industrial properties in Scranton are located near major highways, such as Interstate 81 and Interstate 84, making them ideal for manufacturing and logistics companies. Apartment buildings in Scranton offer a range of amenities, including proximity to universities and hospitals. Office properties in Scranton are concentrated in the downtown area, with many buildings offering stunning views of the surrounding mountains. Hotels in Scranton cater to a range of travelers, from business executives to families on vacation. Overall, Scranton's commercial real estate market offers a range of opportunities for investors and businesses looking to establish a presence in Northeastern Pennsylvania.
What financing options are available for purchasing commercial real estate?
When it comes to financing options for purchasing commercial real estate in Scranton, Pennsylvania, there are several alternatives to consider, including:
- SBA Loans, which offer favorable terms and lower down payments for small business owners;
- Conventional Loans, which provide competitive interest rates and flexible repayment terms;
- Private Money Loans, which offer short-term, high-interest financing for investors and developers.
How do cap rates factor into commercial real estate purchases?
When considering commercial real estate purchases in Scranton, Pennsylvania, cap rates play a crucial role in determining the potential return on investment. With an average cap rate of 7.98%, investors can gauge the property's potential income generation and make informed decisions; to learn more about how cap rates work, check out our article on what is a cap rate.
In Scranton's commercial real estate market, where there are currently 59 available listings, understanding cap rates is essential for investors to navigate the diverse range of properties, from office spaces to retail centers, and make smart investment choices that align with their financial goals.
What is considered a commercial property?
In Scranton, Pennsylvania, a commercial property is typically defined as a building or land used for business or commercial purposes, such as office spaces, retail stores, restaurants, warehouses, and manufacturing facilities. With 59 available listings of commercial real estate in Scranton, investors and business owners have a range of options to choose from, with average prices per square foot of $158 USD and average sizes of 28,694 square feet.
