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Key Details
Sold Price $3,045,500
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 8,328 sqft
Price per Sqft $365
MLS Listing ID PACT2055292
Sold Date 06/14/24
Originating Board BRIGHT
Year Built 1930
Annual Tax Amount $16,675
Tax Year 2023
Lot Size 8,074 Sqft
Acres 0.19
Lot Dimensions 0.00 x 0.00
Property Description
Phoenixville Investment Opportunity at 230 Bridge Street, Phoenixville, PA, Chester County. Nestled in the heart of one of suburban Philadelphia's most sought-after neighborhoods, this property epitomizes a lucrative venture for the savvy commercial investor. The historic charm of the building, dating back to 1930, complements the bustling urban vibe of Downtown Phoenixville, making it a notable landmark in a locality poised for rapid development.
COMMERCIAL:
This property boasts 8,000 square feet of fully leased commercial space, currently occupied by the Rec Room by Conshohocken Brewing (They are in year 7 starting October 1 2024 which is the first month of their 60 month lease extension), a popular and thriving business that resonates with the lively spirit of Phoenixville. The commercial space is a testimony to the property's potential of being a revenue-generating asset, with its modern amenities ensuring a comfortable and inviting ambiance for both patrons and staff.
Leased Commercial Space: 8,000 sqft of space fully leased to a reputable tenant, guaranteeing a steady income stream.
Modern Amenities: Equipped with central cooling and warm air heating features, the commercial space offers a conducive environment for business operations all year round.
RESIDENTIAL:
In addition to the commercial space, the property houses three residential apartment units, further augmenting its investment appeal. The residential units provide a balanced mix-use aspect to the property, ensuring a continual occupancy and revenue generation.
Garage Apartment has a 2 year lease and they are in month 7 of 24 - $2,200 per Month
Apartment 1 is a two year lease and presently at month 9 of 24 - $2,000 per Month
Apartment 2 extended a year off an initial 1 year. Presently month 14 of 24. - $1,950 Per Month
NEIGHBORHOOD:
Phoenixville, with its rich history and contemporary zest, is on the brink of an urban renaissance, especially along the west end of Bridge Street. The strategic location of 230 Bridge Street amidst flourishing businesses, eateries, and residential complexes amplifies its allure as a prime investment opportunity.
ADDITIONAL INCLUSIONS/INCOME:
Possible Expansion to include a Roof Deck with Necessary Structural Components already in place.
Also an additional residential unit could also be added to the property.
Location
State PA
County Chester
Area Phoenixville Boro (10315)
Zoning TC
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling Central A/C
Heat Source Natural Gas
Exterior
Water Access N
Accessibility 2+ Access Exits
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Phoenixville Area
Others
Tax ID 15-09 -0202
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, Seller Financing
Listing Terms Cash, Conventional, Seller Financing
Financing Cash,Conventional,Seller Financing
Special Listing Condition Standard
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Bought with Sean D Maloney • RE/MAX Ready