327 N Washington Avenue, Scranton, PA 18503
$1,550,000
Property Type:
Commercial Sale
Square Footage:
51,387
Lot Size (sq. ft.):
14,810
Status:
Closed
Current Price:
$1,550,000
List Date:
12/29/2021
Last Modified:
12/11/2023
Description
A chance to own one of Scranton's premier historical buildings. The Professional Arts Building is a 10 story office building in the heart of the downtown. Heating, roof and elevators have been updated recently. Each floor has 2 restrooms. Realtor is told that there are no load bearing walls within making it easier to remodel. Leases are full service for the offices, retail tenants on the main level pay their own electric. C-D Downtown Commercial Zoning. High visibility area. Professionally managed building with strong current tenant roster., Tax Information: Available, Ceiling Height: 9' to 12'- Y, No Overhead Door: Y
More Information MLS# 21-5756
Contract Information
Current Price: $1,550,000
Sold Price: $1,550,000
Status: Closed
Listing Contract Date: 2021-12-27
Property Attached YN: No
Listing Agreement: Exclusive Right To Sell
Buyer Brokerage Compensation: 2.5
Buyer Brokerage Compensation Type: %
Sub Agency Compensation Type: %
Transaction Broker Compensation Type: %
Dual Or Variable Rate Commission YN: No
Owner Name: Medical Arts Realty Assoc. Inc
Environmental Survey YN: No
Location, Tax, and Legal
Street Number: 327
Street Direction Prefix: N
Street Name: Washington
Street Suffix: Avenue
Municipality: Scranton City
State: PA
Postal Code: 18503
County: Lackawanna
High School District: Scranton
City Region: Central City
Land Value: 46750
Improvement Value: 123250
County Tax Amount: 10866.4
Municipal Tax Amount: 17429.61
School Tax Amount: 23395.41
Tax Annual Amount: 51691.43
Tax Year: 2021
Tax Assessed Value: 170000
Parcel Number: 15627020026
Additional Parcels YN: No
Zoning Description: Commercial
Directions: 300 Block of N Washington across from Fidelity Bank
Tax Book Number: 1373/0254
General Property Information
Building Area Total: 51387
Building Area Total (Report Only): 51387
Enhanced Accessible: No
Year Built: 1925
Building Name: N/A
Garage Spaces: 53
Parking Total: 53
Lot Size Acres: 0.34
Lot Size Dimensions: 103x150x164x150x40x51
Land Lease YN: No
Basement YN: No
Stories: 10
Auction YN: No
List Price/SqFt: 27.24
Sold Price/SqFt: 30.16
Remarks and Miscellaneous
Public Remarks: A chance to own one of Scranton's premier historical buildings. The Professional Arts Building is a 10 story office building in the heart of the downtown. Heating, roof and elevators have been updated recently. Each floor has 2 restrooms. Realtor is told that there are no load bearing walls within making it easier to remodel. Leases are full service for the offices, retail tenants on the main level pay their own electric. C-D Downtown Commercial Zoning. High visibility area. Professionally managed building with strong current tenant roster., Tax Information: Available, Ceiling Height: 9' to 12'- Y, No Overhead Door: Y
Exclusions: No
Status Change Information
Major Change Timestamp: 2022-02-24T14:40:41Z
Major Change Type: Status Change
Status Change Timestamp: 2022-02-24
Purchase Contract Date: 2022-01-22
Close Date: 2022-02-22
Close Price: 1550000
Concessions: No
Buyer Financing: Cash
Building Features
Included In Contract: Land/Building
Office SqFt: 44026
Retail SqFt: 7361
Oil, Gas and Mineral Rights
Property Subject To Lease: Property Subject To Lease
Road Frontage Type
Road Frontage Length: 103
Property Features
Building Features: Elevator; High Traffic Area; Prime Location; Public Restrooms; Window(s)
Construction Materials: Stone
Current Use: Commercial; Office; Retail
Electric: 100 Amp Service; 150 Amp Service
Flooring: Carpet; Vinyl
Heating: Natural Gas; Steam
Levels: Three Or More
Listing Terms: Cash
Lot Features: Level; Near Central Business District
Parking Features: Asphalt; Other
Possession: Negotiable
Road Frontage Type: Highway
Road Surface Type: Paved
Roof: Rubber
Sewer: Public Sewer
Water Source: Public
Showing Requirements: Appointment Only
Listing Office: O BOYLE REAL ESTATE LLC
Last Updated: December - 11 - 2023
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Information deemed reliable but not guaranteed.