408 W Main Street

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!