UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAPH2674248
Year Built 1940
Annual Tax Amount $33,269
Tax Year 2023
Lot Size 1.021 Acres
Acres 1.02
Property Sub-Type Retail
Source BRIGHT
Property Description
Financial summary: Gross Rental Income: $199,800. Tenant 1 $55,800; Tenant 2 $36,000; Tenant 3 $48,000; Tenant 4 $60,000. Vacant restaurant - Potential rent $96,000. Total Operating Expenses: $72,575. Expenses Breakdown: Real estate taxes $33,575. Common Area/Sanitation $3,000. Common Electricity $3,500. Water/Sewer $10,000. Snow Removal + Landscaping $3,500. Insurance $13,500. Repairs/maintenance $5,500. Net Operating Income (NOI): $127,225 Asking Price: $2,950,000. Current Cap Rate:4.31%. Pro Forma Cap Rate: 7.57%.
In 2019, significant upgrades were made to the property, including all wall renovated ($60,000), the sidewalk fixed and replaced ($50,000.00), 5 poles($40,000.00) installed, other renovation on 2019($15,000) , a new roof( $55,000.00) , 2 meters in the property , 1 for at restaurant , another one for laundromat .
Location
State PA
County Philadelphia
Area 19120 (19120)
Zoning CA1
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Heat Source Electric
Exterior
Garage Spaces 130.0
Utilities Available Electric Available, Natural Gas Available
Water Access N
Accessibility 2+ Access Exits
Total Parking Spaces 130
Garage N
Building
Sewer Public Septic
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 882136700
Ownership Fee Simple
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Financing Cash,Conventional,Exchange
Special Listing Condition Standard
NEARBY SCHOOLS & PROPERTIES
GET MORE INFORMATION