Seller Financing
Address
228-230 Bridge Street, Phoenixville, PA
Price
$ 3,550,000
Property Attributes
- MLS#PACT2055292
- TypeContingent
- CountyCHESTER
- CityPhoenixville
- AreaPhoenixville Boro
- Zip19460
- StyleApartment Building,Restaurant/Bar
- Year Built1930
- Taxes$ 16675
- Price$ 3,550,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage8000
- Lot Size8,276 SqFt
Data Source:
Bright MLS
Property Description
Phoenixville Investment Opportunity at 230 Bridge Street, Phoenixville, PA, Chester County. Nestled in the heart of one of suburban Philadelphia's most sought-after neighborhoods, this property epitomizes a lucrative venture for the savvy commercial investor. The historic charm of the building, dating back to 1930, complements the bustling urban vibe of Downtown Phoenixville, making it a notable landmark in a locality poised for rapid development. COMMERCIAL: This property boasts 8,000 square feet of fully leased commercial space, currently occupied by the Rec Room by Conshohocken Brewing (They are in year 7 starting October 1 2024 which is the first month of their 60 month lease extension), a popular and thriving business that resonates with the lively spirit of Phoenixville. The commercial space is a testimony to the property's potential of being a revenue-generating asset, with its modern amenities ensuring a comfortable and inviting ambiance for both patrons and staff. Leased Commercial Space: 8,000 sqft of space fully leased to a reputable tenant, guaranteeing a steady income stream. Modern Amenities: Equipped with central cooling and warm air heating features, the commercial space offers a conducive environment for business operations all year round. RESIDENTIAL: In addition to the commercial space, the property houses three residential apartment units, further augmenting its investment appeal. The residential units provide a balanced mix-use aspect to the property, ensuring a continual occupancy and revenue generation. Garage Apartment has a 2 year lease and they are in month 7 of 24 - $2,200 per Month Apartment 1 is a two year lease and presently at month 9 of 24 - $2,000 per Month Apartment 2 extended a year off an initial 1 year. Presently month 14 of 24. - $1,950 Per Month NEIGHBORHOOD: Phoenixville, with its rich history and contemporary zest, is on the brink of an urban renaissance, especially along the west end of Bridge Street. The strategic location of 230 Bridge Street amidst flourishing businesses, eateries, and residential complexes amplifies its allure as a prime investment opportunity. ADDITIONAL INCLUSIONS/INCOME: Possible Expansion to include a Roof Deck with Necessary Structural Components already in place. Also an additional residential unit could also be added to the property.
| Price History | |
|---|---|
| 10/27/2023 | Listed $3,888,000 |
| 1/13/2024 | 9% - $3,550,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Hot Water |
| Cooling | Central A/C |
| Possession | 0-30 Days CD |
| Zoning | TC |
| Construction Materials | Other |
| Year Built | 1930 |
| Property SubType | Mixed Use |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Gross Income | 245562.48 |
| Business Type | Apartment Building,Restaurant/Bar |
| Accessibility | 2+ Access Exits |
| County | CHESTER |
| Net Operating Income | 220533.81 |
| New Construction | No |
| Property Type | Commercial Sale |
| Possible Use | Apartment Building,Apartments,Bar/Tavern/Lounge,Retail,Residential |
| Water Access Y/N | No |
| Property Use | Investment |
| Status | ACTIVE UNDER CONTRACT |
| Directions | GPS 230 Bridge Street |
| ModificationTimestamp | 2024-04-28T09:21:31 |
| City | PHOENIXVILLE |
| Buyer Agent Compensation | 2 |
| Total Units | 4 |
| MLS Area | Phoenixville Boro (10315) |
| Lot Size Square Feet | 8074.00 |
| Tax Assessed Value | 371540.0 |
| Waterfront Y/N | No |
| Street Name | BRIDGE |
| Tax Annual Amount | 16675.0 |
| Price Per Sq Ft | 426.27 |
| Acceptable Financing | Cash,Conventional,Seller Financing |
| Vacation Rental Y/N | No |
| Virtual Tour | https://my.matterport.com/show/?m=K8WnjVEwhnG&mls=1&play=1&ts=3 |
| Days on Market | 185 |
| Standard Status | Active Under Contract |
| Year Built Source | Assessor |
| Tax Lot | 0202 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Natural Gas |
|---|---|
| Hot Water | Natural Gas |
| Heating Y/N | Yes |
| Street Suffix | STREET |
| Central Air Y/N | Yes |
Exterior Features
| Water Source | Public |
|---|---|
| Type of Parking | On Street |
| Land Use Code | C30 |
| Water View Y/N | No |
| Building Area Total | 8328.00 |
| Lot Dimensions | 0.00 x 0.00 |
| Lot Size Acres | 0.19 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 55560.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Contingent Average in 19460
Price
Taxes
Visits
Year Built
Walkscore
Copyright © 2024, Metropolitan Regional Information Systems, Inc. All rights reserved. Information deemed reliable but is not guaranteed. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of MRIS. Information provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Knot6 Real Estate Services, LLC does not display
© BRIGHT, All Rights Reserved
