16-S.-State-St.-1

Multi-Tenant Commercial Building

16 S State St, Newtown, PA 18940, USA
$1,249,000

Price:
$1,249,000
Cap Rate
6 %
NOI
$ 76000
Cash-on-Cash
9 %
Pro Forma Cap Rate
7 %
Development Type
Mixed Use
Building Size
4600 sqft
Lot Area
3842 sqft
Occupancy
100 %
Year Built
1830
Price Per SF
278$
Zoning
Village commercial
Permits
Yes
Parking Spots
municipal parking lot
Year Last Renovated
2005
Gross Leaseable area
3700
Contruction Status
finished
Roof
synthetic slate - 50 year guarantee
HVAC
multi zone
Floor
3.5
Restrooms
2
Leed Certitified
no
CeilingHeight
8-9 feet
LEAD LISTING AGENT
mike riccardi

mike riccardi

ASSOCIATE



PROPERTY CONTENT

Side by side twin building with 4600 total sq.ft. Upgraded and fully improved Historic building in the heart of Historic Newtown’s prime business district. Lots of historic character and charm. Considered the best location in the business district with the highest traffic & visibility situated between the 2 main walkways that service the municipal parking lot. Many, many upgrades including 50 yr. synthetic slate roof, EP Henry sidewalk, 4 HVAC units (each floor of the building has its own HVAC system and thermostat, high efficiency windows, remodeled powder rooms., re-pointed chimneys and stone, etc. Leases expire at different times and user can occupy space in 60-90 days, if purchasing as user/investor. Varied mix of retail, office and commercial tenants. Building is completely wired for both FIOS and Comcast internet. Best retail/commercial/office location in the premier block of the business district and building commands the highest rental values. Purchaser to be sufficiently capitalized and qualified to purchase. This property is advisable for the user/investor combination where the purchaser can have their business and and have an investment all in one package with additional rental income to support almost the entire mortgage depending on the square footage occupied. Most tenants have occupied the buildings for multiple years.


PROPERTY HIGHLIGHTS

  • Highly sought after Bucks County historic town.
  • Very High per capita income area
  • Property values are rapidly increasing
  • Great for a user/investor combination
  • Property commands highest rents in the area
  • Property is turn-key, no deferred maintenance

16 S State St, Newtown, PA 18940, USA

LEAD LISTING AGENT
mike riccardi

mike riccardi

ASSOCIATE