For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $350,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 5,100 sqft
Price per Sqft $68
Subdivision None Available
MLS Listing ID 1001239025
Sold Date 03/19/20
HOA Y/N N
Originating Board TREND
Year Built 1910
Annual Tax Amount $4,933
Tax Year 2018
Lot Size 20.000 Acres
Acres 20.0
Lot Dimensions 000 X IRR
Property Description
This building is a perfect small investment or 1031 tax free exchange opportunity - 7.94% cap rate. Tenant is in the technology industry and has a two year lease (2-1-18 to 1-31-20) at the NET annual rent of $30,600 and $31,365. The tenant also has two (2) two (2) year options. Annual NET rent for the option periods will be released upon request. Landlord pays repairs/ replacements. Tenant pays real estate taxes, owner's insurances, lawn/ snow, water/ sewer, utilities, janitorial and phone/ internet. This building was completely renovated in 1990 with 800 amp 120/208 volt 3 phase electric, 3 gas fired hot air systems with central air, new restrooms (ADA compliant), etc. It can be used as offices, medical manufacturing, research and development, light manufacturing and assembly. There is 3,400 SF on the first floor, 1700 SF on the second floor - plus there is 1700 SF on the lower level (which previously served as a small machine shop) with a double door outside exit. Lunchroom and Drive In Door. A floor plan is attached. Flood Insurance for 2017 is $3,712. This building is part of the Colebrookdale Industrial Condominium Center which includes 5 buildings located along Farmington Avenue - 1.7 miles from Route 100 and 1/2 mile from Route 562. Reserved parking for 10 vehicles - overflow non reserve parking available.
Location
State PA
County Berks
Area Douglas Twp (10241)
Zoning LI
Rooms
Other Rooms Primary Bedroom
Interior
Hot Water Electric
Cooling Central A/C
Flooring Tile/Brick, Carpet
Fireplace N
Heat Source Natural Gas, Electric
Exterior
Garage Spaces 6.0
Utilities Available Water Available, Sewer Available, Natural Gas Available, Electric Available, Phone
Water Access Y
Roof Type Pitched,Rubber
Accessibility Mobility Improvements
Road Frontage Boro/Township
Total Parking Spaces 6
Garage N
Building
Building Description Other, Private Restrooms,Cafeteria,Clear Span,Exhaust System,Kitchen,Overhead Door,Refrigerator(s),Security System
Foundation Stone
Sewer On Site Septic
Water Well
Additional Building Above Grade
Structure Type Other
New Construction N
Schools
School District Boyertown Area
Others
Tax ID 41-5386-14-44-6804-C03
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Conventional, Industrial Development Authority
Listing Terms Conventional, Industrial Development Authority
Financing Conventional,Industrial Development Authority
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Randal S. Doaty • Legacy Real Estate Associates, LLC
GET MORE INFORMATION