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Gaetano Panuccio

Buyer's Specialist, REALTOR®

  • Office (717)695-3177
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60 Main, ALBURTIS, PA – $3,888,000

  • $3.9M Price
  • 26,122 Sqft
  • 2.74 Acres
  • 633 DOM
  • $3.9M Price
  • 26,122 Sqft
  • 2.74 Acres
  • 633 DOM

60 Main

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

Essential Information

  • MLS® #1009984992
  • Price$3,888,000
  • Bathrooms0.00
  • Square Footage26,122
  • Acres2.74
  • Year Built1901
  • TypeCommercial Sale
  • Sub-TypeFive Or More Units
  • StatusActive

Community Information

  • Address60 Main
  • AreaAlburtis Boro (12301)
  • CityALBURTIS
  • CountyLEHIGH-PA
  • StatePA
  • Zip Code18011

Amenities

Utilities

Water Available, Sewer Available, Electric Available, Phone, Cable TV Available, Above Ground, Butane

Interior

  • HeatingCentral
  • CoolingCentral A/C

Exterior

  • ExteriorAlum/Steel Siding, Wood, Block
  • Exterior FeaturesSign
  • RoofRubber, Asbestos Shingle
  • FoundationConcrete Perimeter

School Information

  • DistrictEAST PENN

Additional Information

  • Date ListedOctober 13th, 2018
  • Days on Market633
  • ZoningC- 1

Listing Details

  • Listing AgentTheodore Van Wert
  • Listing Office Phone6107667200

Listing Office

Iron Valley Real Estate of Lehigh Valley

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Listing information last updated on July 6th, 2020 at 12:51pm CDT.