116 Franklin Ave Scranton, PA 18503
Downtown Scranton NeighborhoodEstimated payment $1,371/month
About This Home
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.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1920
Lot Details
- 3,049 Sq Ft Lot
- Lot Dimensions are 40x76
Interior Spaces
- 4,044 Sq Ft Home
- 2-Story Property
- Unfinished Basement
Accessible Home Design
- Enhanced Accessible Features
Community Details
- 2 Units
Listing and Financial Details
- Assessor Parcel Number 15626020008
- Tax Block 110
- $21,054 per year additional tax assessments
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $8,288 | $21,054 | $11,054 | $10,000 |
| 2024 | $7,675 | $21,054 | $11,054 | $10,000 |
| 2023 | $7,675 | $21,054 | $11,054 | $10,000 |
| 2022 | $7,510 | $21,054 | $11,054 | $10,000 |
| 2021 | $7,510 | $21,054 | $11,054 | $10,000 |
| 2020 | $7,397 | $21,054 | $11,054 | $10,000 |
| 2019 | $6,990 | $21,054 | $11,054 | $10,000 |
| 2018 | $6,990 | $21,054 | $11,054 | $10,000 |
| 2017 | $6,891 | $21,054 | $11,054 | $10,000 |
| 2016 | $3,076 | $21,054 | $11,054 | $10,000 |
| 2015 | $5,445 | $21,054 | $11,054 | $10,000 |
| 2014 | -- | $21,054 | $11,054 | $10,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/03/2025 11/03/25 | For Sale | $219,900 | 0.0% | $54 / Sq Ft |
| 11/01/2025 11/01/25 | Off Market | $219,900 | -- | -- |
| 10/17/2025 10/17/25 | Price Changed | $219,900 | -12.0% | $54 / Sq Ft |
| 08/14/2025 08/14/25 | For Sale | $250,000 | 0.0% | $62 / Sq Ft |
| 08/01/2025 08/01/25 | Off Market | $250,000 | -- | -- |
| 06/28/2025 06/28/25 | Price Changed | $250,000 | -10.7% | $62 / Sq Ft |
| 04/30/2025 04/30/25 | Price Changed | $279,900 | -6.7% | $69 / Sq Ft |
| 03/30/2025 03/30/25 | Price Changed | $299,900 | -9.1% | $74 / Sq Ft |
| 02/08/2025 02/08/25 | For Sale | $329,900 | -- | $82 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $155,000 | None Listed On Document | |
| Warranty Deed | $52,000 | Djs Abstract & Amp | |
| Interfamily Deed Transfer | -- | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $124,000 | New Conventional |
Source: Greater Scranton Board of REALTORS®
MLS Number: GSBSC250549
APN: 15626020008
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Information provided by the Greater Scranton Board of REALTORS® MLS. Information is for consumer’s personal noncommercial use, and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing. Consult the specific municipality for permitted Zoning uses.
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