Listing photo for 60 Main, ALBURTIS, PA

60 Main,

ALBURTIS, PA

$3,888,000

26,122 Sqft
2.74 Acres

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

Facts & Features
MLS® # 1009984992
Price $3,888,000
Bathrooms 0.00
Square Footage 26,122
Acres 2.74
Year Built 1901
Type Commercial Sale
Sub-Type Five Or More Units
Status Active
Community Information
Address 60 Main
Area Alburtis Boro (12301)
City ALBURTIS
County LEHIGH-PA
State PA
Zip Code 18011
Amenities
Utilities Water Available, Sewer Available, Electric Available, Phone, Cable TV Available, Above Ground, Butane
Is Waterfront No
Interior
Heating Central
Cooling Central A/C
Has Basement No
Fireplace No
Exterior
Exterior Alum/Steel Siding, Wood, Block
Exterior Features Sign
Roof Rubber, Asbestos Shingle
Foundation Concrete Perimeter
School Information
District EAST PENN
Additional Information
Date Listed October 13th, 2018
Days on Market 375
Zoning C- 1
Foreclosure No
Short Sale No
RE / Bank Owned No
Listing Details
Office Iron Valley Real Estate of Leh
Photo of Jennifer Mosser

Jennifer Mosser

Office: 703-430-9008
Cell: 571-210-2210

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Listing information last updated on October 22nd, 2019 at 5:05pm EDT.

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