$5,325,537*
●
Commercial -
Off Market
60 MAIN
ALBURTIS, PA 18011
Studio
0 Bath
$3,500,000 - $4,276,000
Reference Base Price*
36.97%
Since Sep 1, 2020
National-US
Primary Model
About This Property
This investment opportunity to own a 33+ unit property with lots of
parking in the fastest growing area in Lehigh county, ten of the
largest building developments are in the area including Jaindl~s
Spring Creek Properties. Located just off the Route 222
by-pass and near the I-78 Interstate, this property is in desirable
East Penn School district, near the largest corporate, industrial,
distribution centers in Western Lehigh County, close to recreation
such as Bear Creek Ski Area, cycling & sports centers, shopping and
more. The property consists of 26,122 sq. ft of finished buildings
that was appraised a few years ago at $4,145,000 for the real
estate only. Table 1 that follows shows current room rentals
in the three buildings at $14,725/mo. with full occupancy or
$176,700 annual income. The current annual income will be
increased from $176,700 a year to $317,100 a year when the
apartments on the 3rd & 4th fl. are completed. Ten plus
additional units can be created in the space that the Tavern and
Lodge, currently occupy for the passive investor just looking
for rental income. Great Site for a Brew Works, or sports bar
with its gaming license. And additional rental conversion
would move the annual cashflow to $457,260 a year, or hire an
operator for the tavern and make more. The owner is asking for a
$4,488,000 purchase price which you see from the Netsheet Data
Entry sheet after Table 1 monthly payment of $31,115.24 can be
fully supported and then enhanced with the Tavern conversion to
additional 10 rental apartments, or lease tavern to a food
operator. Either way its a win, win!There are few investment
opportunities of this magnitude and location is always key.
It~s a great location, recently updated, lots of parking and
serves a growing community. Call now for further information
Unit Size
-
Days on Market
-
Land Size
2.74 acres
Price per sqft
-
Property Type
Commercial
Property Taxes
$61,268
HOA Dues
-
Year Built
-
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Aug 1, 2020 | No longer available | - | |
No longer available | |||
Aug 2, 2019 | Price Decreased |
$3,888,000
↓ $587K
(13.1%)
|
|
Price Decreased | |||
Jul 10, 2019 | Price Decreased |
$4,475,000
↓ $13K
(0.3%)
|
|
Price Decreased | |||
Dec 1, 2018 | Price Decreased |
$4,488,000
↓ $10K
(0.2%)
|
|
Price Decreased | |||
Oct 13, 2018 | Listed | $4,498,000 | |
Listed |
Property Highlights
Air Conditioning
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
10/13/2018
|
|
Loft
|
-
|
-
|
$4,498,000
Loft
-
|
-
-
|
-
|
-
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