62 Broadway - Hospitality FOR SALE


Bangor, PA 18013
$999,999 USD
484-358-5688
62 Broadway, Bangor, PA for Sale
$999,999 USD
Hospitality - FOR SALE
1/16
null | Request Cap Rate

62 Broadway
Bangor, PA 18013


HIGHLIGHTS

  • Offered at $999,999, Projected Apartment Rents of $1,600–$1,800 Per Unit Per Month
  • Appraised "As-Is" at $1,405,000 in September 2025, representing approximately $405,000 in potential value below appraised value
  • Historic Turn-of-the-Century Hotel, Restaurant & Bar Located in Downtown Bangor, Pennsylvania
  • Approximately 29 Existing Room-Rental Units with Significant Income Potential
  • Potential Gross Room Rental Income of Approximately $280,800 Annually Upon Renovation and Stabilization
  • Spacious 4,064 SF Restaurant and Tavern with Commercial Kitchen

OVERVIEW

Opportunity knocks with this exceptional turn-of-the-century hotel, restaurant, and bar located in the heart of Bangor, Pennsylvania. Rich in character and historic charm, this landmark mixed-use property features approximately 29 room-rental units, a spacious 4,064-square-foot restaurant and tavern, a hotel liquor license, commercial kitchens, an elaborate bar seating approximately 40 guests, and four dining rooms accommodating approximately 200 patrons, including two elegant dining rooms enhanced by gas fireplaces. All furnishings are included, offering a true turnkey opportunity for investors, developers, or hospitality operators. Upon renovation and stabilization, the lodging component alone has the potential to generate approximately $23,400 per month based on current room rental rates, while the restaurant and bar operation previously produced approximately $1 million in annual gross revenue when owner-operated. The property offers tremendous flexibility—continue operating as a hospitality venue, lease the restaurant and bar to an experienced operator for passive income, or explore the substantial value-add potential through the owner's conceptual plans for conversion into 13 residential apartments, with projected rents ranging from $1,600 to $1,800 per month per unit. Strategically positioned in the growing Slate Belt region near the Delaware Water Gap, Lehigh Valley, and major transportation corridors, this rare offering presents multiple income streams, redevelopment possibilities, and long-term appreciation potential. Opportunities of this scale and versatility are seldom available. Business financial information and pre-approval are required with all offers. Listed for below Appraised Value As is appraised in Sept 2025 for $1405000." Listed for below Appraised Value As is appraised in Sept 2025 for $1405000."

FOR SALE DETAILS

PRICE

$999,999 USD

PRICE/SF

$55 USD /SF

# OF ROOMS

20

PRICE/ROOM

$50,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Colonial Hotel

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

Storefront Retail/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,864 SF

ZONING

Commercial

APN/PARCEL ID

E9NE2D-13-1-0102

ASK ABOUT THIS PROPERTY

Preety MinhasSaffron Real EstateMore Info
484-358-5688

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Preety MinhasSaffron Real EstateMore Info
484-358-5688

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