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116 Salem Avenue, Carbondale, PA 18407

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For Sale

$1,475,000

36,000 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Multi-Family (2-4 Units)
    Property type

  • $40.97
    Price per square foot

Explore this Property

Redevelopment Opportunity | Offered at $1,475,000 OB International Real Estate presents a rare opportunity to acquire and redevelop the former Roosevelt School, a ±31,000 SF structure spanning three contiguous parcels in the heart of Carbondale's revitalizing downtown. This high-visibility property is zoned for mixed-use, allowing for multifamily residential, commercial, and institutional development. With strong foundational integrity and adjacent surface parking for 49 vehicles, it's ideally positioned for adaptive reuse into apartments, medical offices, senior housing, or community-based services. Property Highlights ±31,000 SF historic brick structure across 3 parcels Includes ±8,000 SF of dedicated parking (49 spaces) Zoning approved: multifamily, commercial, and mixed-use Existing engineering and architectural plans included Former school layout supports 27+ units with shared amenities Strong corner location with walkable access to schools, transit, and services Strategic Advantages Eligible for 10-year tax abatement (LERTA) May qualify for Pennsylvania and federal redevelopment grants Structural analysis confirms adaptive reuse viability Rooftop load supports private terraces or tenant-accessible outdoor space Offered at: $1,475,000 Serious inquiries only. Contact OB International Real Estate to schedule a tour or request the full investor package. Serious inquiries only. Contact OB International Real Estate to schedule a tour or request the full investor package.
MLS# 11392145

Courtesy Of OB INTERNATIONAL REAL ESTATE

(570) 812-1772

Property Features

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Map and Directions

Directions to 116 Salem Avenue, Carbondale, PA 18407

Home seller CENTURY 21 Jack Ruddy Real Estate

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Jack Ruddy Real Estate

(570) 344-6724
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Copyright © 2025 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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