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1820-1844 North Main Avenue

Updated Sep 9, 2024

Marshall Weisman Acquires Mixed-Use Property In Scranton, PA For $855,000
SOLDMixed-use

Marshall Weisman Acquires Mixed-Use Property In Scranton, PA For $855,000

1820-1844 North Main Avenue

$855,000

$14/SF

Building Size

59,523 SF

Asset Type

Mixed-use

Closing

Mar 28, 2023

About this deal

AI

The mixed-use property located at 1820-1844 North Main Avenue in Scranton, PA has been sold for a total of $855,000. The property spans an area of 59,523 square feet, resulting in a price per square foot of $14. The transaction took place on the 28th of March, 2023.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $855,000
  • Address: 1820-1844 North Main Avenue, Scranton, PA
  • Market: Scranton, PA

The buyer of this property is Marshall Weisman, while the seller is Nasser Mohammadzad. The deal was facilitated by Christian Madigan, Thomas Gorman Jr, and Michael Scrima, who represent Redwood Realty Advisors.

It is worth noting that the property was largely unoccupied at the time of the transaction. The buyer plans to undertake a full renovation of the buildings.

Players

Michael Scrima

Houlihan Lawrence Commercial

Broker

$214.1M

vol

60 deals

Broker
Thomas Gorman Jr.
Verified Badge

Thomas Gorman Jr.

Houlihan Lawrence Commercial

Broker

$240M

vol

62 deals

Broker

Market Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $14 per square foot on a published $855K for 59,523 square feet (2023).

Visit Thomas Gorman Jr. to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

18.55%

Cash-on-Cash

-5.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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