1132 W Main St - Apartments FOR SALE


Norristown, PA 19401
$1,500,000 USD
215-641-2727
1132 W Main St, Norristown, PA for Sale
$1,500,000 USD
Apartments - FOR SALE
1/31
null | Request Cap Rate

1132 W Main St
Norristown, PA 19401


OVERVIEW

Mixed-use apartment building now available for sale in Norristown. This 5,685-square-foot property features five licensed residential rental units in addition to first-floor a convenience store and a commercial space occupied by El Gordo Bros. The restaurant is a well-established local business serving authentic Mexican food as well as American Food. El Gordo Bros. took over the restaurant formally known as Alfredo's, which was at this location for 50 years. The restaurant and convenience store occupies the entire first floor. The second floor includes three residential units: a two-bedroom apartment with a private outdoor deck and separately metered utilities, including heat and hot water, along with two efficiency units with separate electric meters. The third floor offers two additional licensed boarding-room units, all in good condition. All residential units and the restaurant are properly licensed. The building will meet all Municipality of Norristown requirements, including the latest fire-egress safety standards. Ideally situated at the western end of Norristown, just below the West Norriton Township line, this property offers a strong investment opportunity in a growing commercial corridor. Nearby national retailers and franchises include Chase Bank, Dunkin', McDonald's, Domino's, Royal Farms, Aaron's, and more. Note: The Restaurant is owned by the Seller and there is a Lease in place. The current Restaurant Tenant is willing to remain in place after the sale. The Owner of the Restaurant will entertain any Buyers who are interested in purchasing the restaurant as well. The the purchase price includes the restaurant and convenience, store, businesses, and all equipment that isn't leased take advantage of this amazing opportunity with multiple sources of income in one of the areas fastest growing towns!

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$185 USD /SF

# OF UNITS

7

PRICE/UNIT

$214,286

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,400 SF

ZONING

RO

APN/PARCEL ID

13-00-22820-009

ASK ABOUT THIS PROPERTY

Michael MarcheseColdwell Banker PreferredMore Info
215-641-2727

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Michael MarcheseColdwell Banker PreferredMore Info
215-641-2727

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