11 W Mechanic St - Storefront Retail/Residential FOR SALE


New Hope, PA 18938
$1,800,000 USD
609-516-4183
11 W Mechanic St, New Hope, PA for Sale
$1,800,000 USD
Storefront Retail/Residential - FOR SALE
1/5
null | 4.93% Cap Rate

11 W Mechanic St
New Hope, PA 18938


OVERVIEW

The multi-unit investment property located on West Mechanic Street in Downtown New Hope, featuring three commercial spaces and three apartments, presents compelling opportunities due to its prime location, current under-market rents, and the area's ongoing real estate market growth.  Current potential: Under-market rents: The property is currently rented below market rates. This offers a straightforward opportunity for increased income and capitalization by simply bringing the rents up to market rates, as leases expire or renegotiations occur. Luxury Property Development: The property's location adjacent to luxury market properties suggests strong potential for redevelopment into a high-end luxury property. The area is experiencing a transformation with luxury residential and commercial developments, indicating a receptive market for upscale properties. Acquiring 11 W Mechanic Street and adjacent rear multi-unit residential property, could provide a lucrative redevelopment opportunity.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$553 USD /SF

CAP RATE

4.93%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1880

SPRINKLERS

-

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,356 SF

ZONING

CC,New Hope Boro

APN/PARCEL ID

27-010-091

ASK ABOUT THIS PROPERTY

Andrew DellNJ Dell Properties, LLCMore Info
609-516-4183

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Andrew DellNJ Dell Properties, LLCMore Info
609-516-4183

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.