Scranton, Pennsylvania, is a city that offers a unique blend of industrial heritage and cultural diversity, making it an attractive location for investors looking to purchase a shopping center. With a population of around 70,000 people, Scranton serves as the cultural and economic center of Northeastern Pennsylvania. The city's economy has diversified over the years, with major sectors including healthcare, academia, and manufacturing. Shopping centers in Scranton offer a range of amenities, including proximity to institutions like the University of Scranton and Geisinger Commonwealth School of Medicine, as well as access to recreational activities like skiing at Montage Mountain Ski Resort. The city's infrastructure, including the County of Lackawanna Transit System and the Wilkes-Barre/Scranton International Airport, provides convenient transportation options for residents and visitors. With its rich history, cultural events, and educational institutions, Scranton is a great place to invest in a shopping center.
Currently, there are 1 shopping centers for sale in Scranton, offering a range of investment opportunities. These properties offer an average price per square foot of $145 USD and an average size of 60,206 square feet. The largest shopping center available for sale is 60,206 square feet. In addition to shopping centers, Scranton also offers other investment opportunities, including restaurants, specialty properties, land, and office properties. For example, restaurants in Scranton can benefit from the city's cultural events, such as the La Festa Italiana festival, which attracts visitors from across the region. Specialty properties, like the historic Iron Furnaces, can offer unique investment opportunities. Land in Scranton can be used for development, taking advantage of the city's growing economy. Office properties, like those in the downtown area, can benefit from the city's central location and access to transportation. Overall, Scranton offers a range of investment opportunities, making it a great place to consider purchasing a shopping center or other property type.
What is the average cap rate for shopping centers in Scranton?
The average cap rate for shopping centers in Scranton is 8%, making it an attractive option for investors looking to capitalize on the city's diverse economy and strong infrastructure.
