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408 W Main Street

NEW HOLLAND, PA 17557
  • $480,000
  • STATUS: Active
  • ON SITE: 30 Days
  • ID#: PALA2026746
UPDATED: 17 min ago
$480,000
  • 0
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1920
County:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

408 W Main, is a fully occupied 6-unit, Mixed-use property located at a highly travelled thoroughfare in New Holland, PA. Generating $48,000 of gross operating income per year. This property is uniquely poised to produce substantial income for the foreseeable future. Comprised of 1 commercial unit, 4 licensed boarding rooms, a 1 bedroom apartment, and 2 large storage garages, this property offers the best of both worlds. Looking for an investment that is well diversified and recession resilient? Look no further, the commercial unit is occupied by a barbershop owner who has just signed a new 3 year lease. The remaining units are conveniently placed on on oral or month to month leases, which allows for a new owner to reposition and re-tenant at market rental rates. Due to the low vacancy rates in Lancaster County, as well as the increasingly high rental rates, boarding rooms serve to not only provide affordable units, but also increased income potential. Pro-forma income can realistically be accomplished at $59,400, transforming this 8.2 Cap to 10.6!!! Property is well maintained, roof has recently been repaired, and a new sump pump has been installed. Schedule a showing for this rare find in a tight market!

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Flinchbaugh & Associates - Re/Max Patriots. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-11-26T06:54:15.16.
www.flinchbaughassociates.com/homes/134274457
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408 W Main Street NEW HOLLAND, PA 17557

  • Price: $480,000
  • Status: Active
  • On Site: 30 Days
  • Updated: 17 min ago
  • ID#: PALA2026746
0
Beds
0
Baths
0
½ Baths
0.22
Acres
1920
Built
Neighborhood:
New Holland Boro (10548)
County:
Lancaster
Area:
New Holland Boro (10548)
Elementary School:
New Holland
Middle School:
Garden Spot
High School:
Garden Spot
School District:
Eastern Lancaster County
Property Description
408 W Main, is a fully occupied 6-unit, Mixed-use property located at a highly travelled thoroughfare in New Holland, PA. Generating $48,000 of gross operating income per year. This property is uniquely poised to produce substantial income for the foreseeable future. Comprised of 1 commercial unit, 4 licensed boarding rooms, a 1 bedroom apartment, and 2 large storage garages, this property offers the best of both worlds. Looking for an investment that is well diversified and recession resilient? Look no further, the commercial unit is occupied by a barbershop owner who has just signed a new 3 year lease. The remaining units are conveniently placed on on oral or month to month leases, which allows for a new owner to reposition and re-tenant at market rental rates. Due to the low vacancy rates in Lancaster County, as well as the increasingly high rental rates, boarding rooms serve to not only provide affordable units, but also increased income potential. Pro-forma income can realistically be accomplished at $59,400, transforming this 8.2 Cap to 10.6!!! Property is well maintained, roof has recently been repaired, and a new sump pump has been installed. Schedule a showing for this rare find in a tight market!
Exterior Features

Construction Materials Shingle SidingCopper Plumbing Garage YN No Location Type Free Standing Parking Features PrivatePaved Parking Parking Types DrivewayPrivate GarageParking Lot Property Condition Good Riparian Rights YN No Road Responsibility Public Road Surface Type Access - Above GradeConcrete Roof PitchedShingle View City Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 3520.00 Cooling Central A/C Flooring LaminatedCarpet Heating 90% Forced AirHot Water Heating YN Yes Net Square Feet 3520.00

Property Features

Acceptable Financing CashConventional Accessibility Features 2+ Access Exits Assessment Year 2022 Building Permits On Hand Business Type Apartment BuildingProfessionalHair Salon And Spa Central Air YN Yes Cooling Fuel Electric Electric 200+ Amp Service Elevators 0 Foundation Details BlockConcrete Perimeter Heating Fuel Electric Historic YN No Hot Water Electric Internet Services Broadband Lease Considered YN No Municipality New Holland Boro Navigable Water YN N New Construction YN No Number Of Units Total 6 Operating Expense Includes InsuranceRepair/MaintenanceSewerSnow RemovalWaterTrashOther Original MLSNumber 801962827012 Owner Pays InsuranceRepairsSewerSnow RemovalTaxes - Real EstateTrash CollectionWater Ownership Interest Fee Simple Possession Immediate Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 3329.00 Tax Assessment Amount 173400.00 Transportation Bus Stop Less Than 1 MileCommuter Lots Less Than 5 Miles Utilities Electric AvailableSewer AvailableWater Available Vacation Rental YN No Water Source Public Zoning C-2 Zoning Description See Attached Document Regarding Zoning

Listing courtesy of Sable Commercial Realty: .


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Flinchbaugh & Associates - Re/Max Patriots. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-11-26T06:54:15.16.
 
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