60 Main

    ALBURTIS, PA 18011
    • $4,475,000
    • STATUS: Active
    • ON SITE: 272 days
    • ID#: 1009984992
    UPDATED: 32 min ago
    $4,475,000
    • 0
      BEDS
    • 2.74
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1901
    County:

    School Ratings & Info

    School District:

    Description

    This investment opportunity to own a 33+ unit property with lots of parking in the fastest growing area in Lehigh county, ten of the largest building developments are in the area including Jaindl~s Spring Creek Properties. Located just off the Route 222 by-pass and near the I-78 Interstate, this property is in desirable East Penn School district, near the largest corporate, industrial, distribution centers in Western Lehigh County, close to recreation such as Bear Creek Ski Area, cycling & sports centers, shopping and more. The property consists of 26,122 sq. ft of finished buildings that was appraised a few years ago at $4,145,000 for the real estate only. Table 1 that follows shows current room rentals in the three buildings at $14,725/mo. with full occupancy or $176,700 annual income. The current annual income will be increased from $176,700 a year to $317,100 a year when the apartments on the 3rd & 4th fl. are completed. Ten plus additional units can be created in the space that the Tavern and Lodge, currently occupy for the passive investor just looking for rental income. Great Site for a Brew Works, or sports bar with its gaming license. And additional rental conversion would move the annual cashflow to $457,260 a year, or hire an operator for the tavern and make more. The owner is asking for a $4,488,000 purchase price which you see from the Netsheet Data Entry sheet after Table 1 monthly payment of $31,115.24 can be fully supported and then enhanced with the Tavern conversion to additional 10 rental apartments, or lease tavern to a food operator. Either way its a win, win!There are few investment opportunities of this magnitude and location is always key. It~s a great location, recently updated, lots of parking and serves a growing community. Call now for further information

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    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively 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. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-07-23T10:56:30.953.
    www.eriksells.com/homes/88780757

    60 Main ALBURTIS, PA 18011

    • Price: $4,475,000
    • Status: Active
    • Updated: 32 min ago
    • ID#: 1009984992
    0
    Beds
    0
    Baths
    0
    ½ Baths
    2.74
    Acres
    1901
    Built
    Neighborhood:
    Alburtis Boro (12301)
    County:
    Lehigh
    Area:
    Alburtis Boro (12301)
    School District:
    East Penn
    Property Description
    This investment opportunity to own a 33+ unit property with lots of parking in the fastest growing area in Lehigh county, ten of the largest building developments are in the area including Jaindl~s Spring Creek Properties. Located just off the Route 222 by-pass and near the I-78 Interstate, this property is in desirable East Penn School district, near the largest corporate, industrial, distribution centers in Western Lehigh County, close to recreation such as Bear Creek Ski Area, cycling & sports centers, shopping and more. The property consists of 26,122 sq. ft of finished buildings that was appraised a few years ago at $4,145,000 for the real estate only. Table 1 that follows shows current room rentals in the three buildings at $14,725/mo. with full occupancy or $176,700 annual income. The current annual income will be increased from $176,700 a year to $317,100 a year when the apartments on the 3rd & 4th fl. are completed. Ten plus additional units can be created in the space that the Tavern and Lodge, currently occupy for the passive investor just looking for rental income. Great Site for a Brew Works, or sports bar with its gaming license. And additional rental conversion would move the annual cashflow to $457,260 a year, or hire an operator for the tavern and make more. The owner is asking for a $4,488,000 purchase price which you see from the Netsheet Data Entry sheet after Table 1 monthly payment of $31,115.24 can be fully supported and then enhanced with the Tavern conversion to additional 10 rental apartments, or lease tavern to a food operator. Either way its a win, win!There are few investment opportunities of this magnitude and location is always key. It~s a great location, recently updated, lots of parking and serves a growing community. Call now for further information
    Exterior Features

    Architectural Style Other Construction Materials Aluminum SidingWood SidingBlockCopper PlumbingMixed Plumbing Direction Faces East Garage YN No Location Type Corner Lot/Unit Parking Types None Riparian Rights YN No Road Responsibility Boro/TownshipState Roof RubberAsbestos Shingle Sign On Property YN N Topography List Level Water Access YN No Water Oriented YN No Waterfront YN No

    Interior Features

    Building Area Total 26122.00 Building Features Public RestroomsPrivate RestroomsCeiling FansFire EscapeKitchenRecreational FacilityRefrigerator(S)Security LightingSecurity SystemShelvingShowersWalk-In Box Cooling Central A/C Fireplace YN No Flooring WoodVinylLaminated Heating Central Heating YN Yes Net Square Feet 26122.00 Room List Master Bedroom Walls Ceilings OtherWood Walls

    Property Features

    Acceptable Financing ConventionalOther Accessibility Features None Association YN No Business Type Restaurant/BarApartment BuildingBed And BreakfastHotel/Motel Central Air YN Yes Condo YN No Cooling Fuel Electric Cross Street Front Electric Circuit Breakers Exterior Amenities Transport Sign Foundation Details Concrete Perimeter Green Remarks Investors Can Utilize Existing Management And Staff To Continue Operations And Use A Passive income Or install Management To Over See The Operations Or Hire A Management Company. Heating Fuel Electric Hot Water Electric Navigable Water YN N New Construction YN No Original MLSNumber 300926583632:TREND Ownership Interest Fee Simple Possession 61-90 Days Cd Property Sub Type Five Or More Units Sale Includes Land With Business And BuildingFranchiseEquipmentFixturesLiquor License Sale Type Standard Sewer Public Sewer Tax Annual Amount 61268.0 Tax Assessment Amount 1049300.0 Utilities Water AvailableSewer AvailableButaneElectric AvailablePhoneCable Tv AvailableAbove Ground Vacation Rental YN No Water Source Public Zoning C- 1

    Listing courtesy of Iron Valley Real Estate Of Lehigh Valley.
    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively 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. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-07-23T10:56:30.953.
     
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