750 Providence RdScranton, PA 18508

Property Details for 750 Providence Rd

Year built

2012

Lot size

1.20 AC

Property size (Sq ft)

5,000 SF

Property type

Other retail properties

Property subtype

Retail properties

Description

This prime commercial property at 750 Providence Road, Scranton, PA, presents a compelling investment opportunity. The 5,000 square foot building houses a thriving Turkey Hill Mini Market, operating under a robust 15-year lease with six 5-year options, ensuring long-term income stability. The lease includes rent escalations every five years, providing predictable growth. The tenant, Turkey Hill, is backed by the EG Group, a major international convenience store operator with over 267 locations across Pennsylvania, Ohio, and Indiana, offering significant financial strength and security. The property's Net Operating Income (NOI) is $87,725, based on the Turkey Hill lease. Situated on a 1.2-acre lot, the property offers significant developable land, presenting opportunities for future expansion or the addition of complementary businesses. The location in Scranton boasts high visibility and accessibility, benefiting from a strong local and commuter traffic flow. The surrounding area includes a mix of residential, commercial, and educational institutions, supporting a diverse customer base. The Scranton market, with a population exceeding 123,000 within a 5-mile radius and a median household income of $56,251, is experiencing revitalization, creating a positive economic environment. The asking price for this exceptional investment is $1,700,000.

Location Insight

City

Scranton

County

Lackawanna

State

Pennsylvania

Latitude

41.4186

Longitude

-75.6647

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