2.82 Acre 270-Unit Plans and Permits Approved SELF-STORAGE DEVELOPMENT OPPORTUNITY
ASKING PRICE: $3,200,000
107 S Keyser Avenue | Old Forge PA 18518
Seller Finance Available:
$1,700,000 down, 30 year amortization, 4% interest, $5,728.98 Monthly Payment
Bordering 4.5 acre vacant industrial land available
ASKING PRICE: $500,000
*Currently used for heavy equipment rental business
FULL UNDERWRITE & DOC PACKAGE:
https://drive.google.com/drive/folders/1M-RTv8JnFRQgfKnaR-t3fGBbnMASwfUe?usp=drive_link
PHOTOS:
Commercial Space / Existing Units / Old Strip Club
Drone Shots
INVESTMENT HIGHLIGHTS:
- Additional 4.5 acre abutting vacant industrial land available for additional $500,000
- Currently used for heavy equipment rental business
- Existing commercial building with in-place rental income
- Plans and permits approved self-storage
- Prime location on Keyser Avenue commercial corridor
- Approximately 95,870 residents within a 5-mile radius
- Minutes from I-81, Scranton, Taylor, Moosic and Old Forge
- Projected annual gross revenue of $560,520 *not included additional 4.5 acre parcel
- Projected annual NOI of $364,338 *not included additional 4.5 acre parcel
PROPERTY OVERVIEW:
Property Type:
Commercial Redevelopment / Self-Storage
Address:
107 N Keyser Avenue
Old Forge, PA 18518
Purchase Price:
$3,200,000 *not included additional 4.5 acre parcel
Estimated Construction:
$1,200,000 *not included additional 4.5 acre parcel
Total Project Cost:
$4,400,000 *not included additional 4.5 acre parcel
Projected Stabilized Value:
$5,204,828 *not included additional 4.5 acre parcel
MARKET HIGHLIGHTS:
5-Mile Population: 95,870
5-Mile Households: 39,724
Median Household Income: $48,778
Traffic Exposure: Approximately 7,000–11,000 VPD
Regional Access: I-81, Scranton, Moosic, Taylor
DEVELOPMENT OPPORTUNITY:
The proposed development combines an existing income-producing
commercial asset with a planned self-storage expansion designed
to serve contractor, fleet, vehicle, equipment, and traditional
storage demand throughout the Greater Scranton market.
The site benefits from excellent regional accessibility and
visibility along the Keyser Avenue industrial and commercial
corridor, creating a unique opportunity for investors seeking
both current income and future value creation.
FINANCIAL SUMMARY:
Projected Gross Revenue $560,520 *not included additional 4.5 acre parcel
Projected Operating Expenses $196,182 *not included additional 4.5 acre parcel
Projected NOI $364,338 *not included additional 4.5 acre parcel
Projected Stabilized Cap Rate 7.75% *not included additional 4.5 acre parcel
Estimated Stabilized Value $5.2 million *not included additional 4.5 acre parcel
Pete Tarutis & Max Melito
Realty ONE Group – Supreme
Cell: 814-250-3829
Email: max@melitoandkoch.com
