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Electric City Center 329 Penn Ave 20,000 SF 100% Leased Office Building Scranton, PA 18503 $2,100,000 ($105/SF) 7.34% Cap Rate
Investment Highlights
- Prime Downtown Location
- Private Parking Lot
- Fully Leased
Executive Summary
Prime downtown commercial property located on Penn Avenue.
This fully leased investment property offers strong visibility, a prime downtown location, and private parking for tenants — a rare advantage in the city. With established tenancy already in place, this is a solid opportunity for an investor looking for income-producing real estate in the heart of downtown.
This fully leased investment property offers strong visibility, a prime downtown location, and private parking for tenants — a rare advantage in the city. With established tenancy already in place, this is a solid opportunity for an investor looking for income-producing real estate in the heart of downtown.
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$201,600
|
$10.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$201,600
|
$10.08
|
| Taxes |
$17,626
|
$0.88
|
| Operating Expenses |
$29,835
|
$1.49
|
| Total Expenses |
$47,461
|
$2.37
|
| Net Operating Income |
$154,139
|
$7.71
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $201,600 |
| Annual Per SF | $10.08 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $201,600 |
| Annual Per SF | $10.08 |
| Taxes | |
|---|---|
| Annual | $17,626 |
| Annual Per SF | $0.88 |
| Operating Expenses | |
|---|---|
| Annual | $29,835 |
| Annual Per SF | $1.49 |
| Total Expenses | |
|---|---|
| Annual | $47,461 |
| Annual Per SF | $2.37 |
| Net Operating Income | |
|---|---|
| Annual | $154,139 |
| Annual Per SF | $7.71 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Office/Residential
Building Size
20,000 SF
Building Class
C
Year Built
1960
Price
$2,100,000
Price Per SF
$105
Cap Rate
7.34%
NOI
$154,139
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
10,000 SF
Building FAR
1.39
Lot Size
0.33 AC
Opportunity Zone
Yes
Zoning
Commercial - Commercial
Parking
24 Spaces (1.2 Spaces per 1,000 SF Leased)
Amenities
- Signage
1 1
Exceptionally walkable
90/100
Moderately drivable
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14583010002 | Total Assessment | $766,960 |
| Land Assessment | $106,100 | Annual Taxes | $17,626 ($0.88/SF) |
| Improvements Assessment | $660,860 | Tax Year | 2026 |
Property Taxes
Parcel Number
14583010002
Land Assessment
$106,100
Improvements Assessment
$660,860
Total Assessment
$766,960
Annual Taxes
$17,626 ($0.88/SF)
Tax Year
2026
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Electric City Center | 329 Penn Ave
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