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Key Details
Sold Price $900,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PAMC2002818
Sold Date 10/14/22
HOA Y/N N
Originating Board BRIGHT
Year Built 1974
Annual Tax Amount $19,829
Tax Year 2022
Lot Dimensions 271' X 372'
Property Description
A unique opportunity in Trappe Borough to purchase a Commercial Complex (2 Properties Each Separate Tax IDs) consisting of a Strip Mall, a Tri-Plex Building. This Complex generates Total Rental Income of over $158,000 Annually and with Full Occupancy Annual Rental Income is Estimated at over $182,000. Built in 1974, this well maintained Brick Faced Strip Mall, has 5 Rental Units with Central Air, Public & Well Water & Public Sewer and provides approximately 1,800 Sq. ft. per Unit. A paved Parking Lot provides more than ample parking spaces for the Tenants customers. The Trappe Complex also includes a Two-Story Tri-Plex Building housing 3 Apartments. The Complex Package is located on a high traffic State Road near the busy Town of Collegeville PA, home of Ursinus College. There, many new Luxury Home Developments are underway, which are bringing many new customers to the area. A mixed variety of Tenants currently lease the Strip Mall; including Collegeville Eye Physicians & Surgeons; OK SPA; Karma Salon Studio; Say Cheese and Lift Personal Training. The Complex has been legally established as a Condominium (Trappe Ridge Condominium Association). Although selling the Complex as a Package is the first priority, consideration may be given to the potential of selling the Two Entities separately, depending on the conditions of any proposal.
Location
State PA
County Montgomery
Area Trappe Boro (10623)
Zoning C1
Interior
Hot Water Electric, Natural Gas
Cooling Central A/C, Heat Pump(s)
Flooring Concrete, Hardwood
Heat Source Electric, Natural Gas
Exterior
Garage Spaces 27.0
Utilities Available Electric Available, Natural Gas Available, Sewer Available, Water Available, Phone Available
Water Access N
Roof Type Flat,Pitched
Accessibility 36\"+ wide Halls
Total Parking Spaces 27
Garage N
Building
Sewer Public Sewer
Water Public, Well
New Construction N
Schools
School District Perkiomen Valley
Others
Tax ID 23-00-00715-099
Ownership Condominium
Security Features Carbon Monoxide Detector(s),Smoke Detector
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Connor John Fellin • EXP Realty, LLC