$200,000
$265,000
24.5%For more information regarding the value of a property, please contact us for a free consultation.
7,500 Sqft Lot
SOLD DATE : 09/29/2017
Key Details
Sold Price $200,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision None Available
MLS Listing ID 1001658111
Sold Date 09/29/17
HOA Y/N N
Originating Board TREND
Year Built 1965
Annual Tax Amount $8,520
Tax Year 2017
Lot Size 7,500 Sqft
Acres 0.17
Lot Dimensions 50X150
Property Description
2 Units currently. Rear unit rents for $2,000 an month for 1 year at below market rent. (market rent $2,500/mnth). Front unit is 2 floors 1000 Sq Ft 1st floor and 1000 Sq Ft 2nd floor. This section of property is current being offered for rent at $1,000/mnth. (market rent after re-hab is $2,000/mnth). Property being offered as-a=is at $6 per sq ft, and tenant to fitout the space at their own expense. With the projected market rents and new net leases at this sale price the CAP rate would be approaching 20. Great investment opportunity. At the initial lease rates the CAP rate is 10.
Location
State PA
County Bucks
Area Morrisville Boro (10124)
Zoning C3
Rooms
Other Rooms Primary Bedroom
Interior
Flooring Tile/Brick
Fireplace N
Exterior
Waterfront N
Water Access N
Roof Type Pitched,Shingle
Road Frontage State
Parking Type None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Morrisville Borough
Others
Tax ID 24-006-182
Ownership Fee Simple
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Bought with Kimberly Rock • Keller Williams Real Estate-Langhorne
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "