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Key Details
Sold Price $905,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 6,614 sqft
Price per Sqft $136
Subdivision Grantville
MLS Listing ID PADA2014612
Sold Date 09/16/22
Originating Board BRIGHT
Year Built 1950
Annual Tax Amount $7,536
Tax Year 2022
Lot Size 3.026 Acres
Acres 3.03
Lot Dimensions 450X381X370X272
Property Description
Attention Investors! Well maintained 15 Unit Motel plus a large 1825 Sq. Ft. ranch house with business office on 3 acres zoned highway commercial along Rt. 22 in Grantville, PA, 15 of 15 units are fully rented and long term tenants that pay weekly, Highway traffic count is 7800+ cars per day, complete with a 40X60 4 car garage that has propane heat and air conditioning for additional income, all roofs replaced in last 4-5 years, newer mini-splits in all units, all newer mechanicals, parking for approximately 30 vehicles, all tenants are current on rent. Property currently gives 8% Cap rate, but projected to almost 10-11% cap rate. There is room to increase rent and rent the owner's house and large garage separately. See attached projected spreadsheet analysis. Lots of possibilities and cashflows well!
Location
State PA
County Dauphin
Area East Hanover Twp (14025)
Zoning COMMERCIAL
Interior
Hot Water Electric, Oil
Heating Programmable Thermostat, Forced Air, Wall Unit, Energy Star Heating System
Cooling Central A/C
Flooring Carpet, Ceramic Tile, Hardwood, Luxury Vinyl Plank, Vinyl
Heat Source Electric, Propane - Owned, Oil
Exterior
Garage Spaces 27.0
Utilities Available Cable TV, Phone, Propane, Sewer Available, Water Available
Water Access N
View Pasture, Scenic Vista, Mountain
Roof Type Architectural Shingle,Rubber
Street Surface US Highway/Interstate
Accessibility None
Road Frontage State
Total Parking Spaces 27
Garage N
Building
Lot Description Cleared, Front Yard, Level, Rear Yard
Foundation Block, Concrete Perimeter
Sewer Public Sewer
Water Public, Private
New Construction N
Schools
Elementary Schools East Hanover
Middle Schools Lower Dauphin
High Schools Lower Dauphin
School District Lower Dauphin
Others
Tax ID 25-014-048-000-0000
Ownership Fee Simple
SqFt Source Estimated
Security Features Carbon Monoxide Detector(s),Exterior Cameras,Smoke Detector
Acceptable Financing Cash, Bank Portfolio, Conventional, Exchange
Listing Terms Cash, Bank Portfolio, Conventional, Exchange
Financing Cash,Bank Portfolio,Conventional,Exchange
Special Listing Condition Standard
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Bought with Austin P. Moran • GM Property Solutions, LLC
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