Description
12-14 N Wycombe Ave presents the opportunity for an Owner/User to purchase a 3,500sf warehouse/shop facility in Lansdowne, PA, with a flowing two-unit building included in the sale (one parcel).+GGThe warehouse is currently used as a shop and storage space for general contractors.+GG The building features 15 ft Ceilings, Block Wall Structure, Steel Beam Reinforced Free Span Rear, and five parking spaces.+GG The structure would likely support a garage door opening for drive-in access.+GG This space provides opportunities for an end-user to reimagine and maximize the building's potential.+GGThe two-unit property included in the sale was gut renovated from top to bottom in 2016.+GG The property features new electric, plumbing, hardwood bamboo floors, cherry cabinets, granite countertops, tile bathrooms, and modern finishes.+GGUtilities for the warehouse and apartments are all individually metered for electricity, gas, and water.+GG Apartments Tenants pay 100% of all utility bills for their units, removing a significant portion of the expenses passed through to the owner.+GGBoth apartments are fully occupied and under market rent.+GG The owner pays taxes, sewer, trash, and general maintenance.+GGApartment 1: 3bd / 2 Bath: $1,500 per month Apartment 2: 3bd / 2 Bath: $1,400 per month Tenant Responsibility: Electric, Water, Gas. Landlord Responsibility: Taxes, Trash, Sewer, GM Taxes: $10,621 Insurance: $4,250 Trash: $356 Sewer: $160 Utilities: $1,280 Total Gross Income: $34,800 Total Expenses: $16,667 Total Net Income (NOI): $18,133Estimated Commercial Lease Rate: $10psf x 3,500sf = $2916.66 per month | $35,000 annually Estimated Fully Leased Gross Income: $69,800 Estimated Fully Leased NOI: $53,133 Pro Forma Cap Rate: 8.5% Investment Highlights+GGWarehouse / Office Space + Additional Cash Flow+GGIndividually Metered Utilities+GGGut Renovated Apartments+GG"Free-Span" Rear of Building (2,000+- sf)+GGBlock Wall Construction+GGSteel Beam Reinforced+GG5 Included Parking Spaces+GGAdd Garage Door*+GGBi-Level Apartments+GGUnder Market Rents - Value Add
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0BEDS
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0.15ACRES
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0BATHS
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01/2 BATHS
Description
12-14 N Wycombe Ave presents the opportunity for an Owner/User to purchase a 3,500sf warehouse/shop facility in Lansdowne, PA, with a flowing two-unit building included in the sale (one parcel).+GGThe warehouse is currently used as a shop and storage space for general contractors.+GG The building features 15 ft Ceilings, Block Wall Structure, Steel Beam Reinforced Free Span Rear, and five parking spaces.+GG The structure would likely support a garage door opening for drive-in access.+GG This space provides opportunities for an end-user to reimagine and maximize the building's potential.+GGThe two-unit property included in the sale was gut renovated from top to bottom in 2016.+GG The property features new electric, plumbing, hardwood bamboo floors, cherry cabinets, granite countertops, tile bathrooms, and modern finishes.+GGUtilities for the warehouse and apartments are all individually metered for electricity, gas, and water.+GG Apartments Tenants pay 100% of all utility bills for their units, removing a significant portion of the expenses passed through to the owner.+GGBoth apartments are fully occupied and under market rent.+GG The owner pays taxes, sewer, trash, and general maintenance.+GGApartment 1: 3bd / 2 Bath: $1,500 per month Apartment 2: 3bd / 2 Bath: $1,400 per month Tenant Responsibility: Electric, Water, Gas. Landlord Responsibility: Taxes, Trash, Sewer, GM Taxes: $10,621 Insurance: $4,250 Trash: $356 Sewer: $160 Utilities: $1,280 Total Gross Income: $34,800 Total Expenses: $16,667 Total Net Income (NOI): $18,133Estimated Commercial Lease Rate: $10psf x 3,500sf = $2916.66 per month | $35,000 annually Estimated Fully Leased Gross Income: $69,800 Estimated Fully Leased NOI: $53,133 Pro Forma Cap Rate: 8.5% Investment Highlights+GGWarehouse / Office Space + Additional Cash Flow+GGIndividually Metered Utilities+GGGut Renovated Apartments+GG"Free-Span" Rear of Building (2,000+- sf)+GGBlock Wall Construction+GGSteel Beam Reinforced+GG5 Included Parking Spaces+GGAdd Garage Door*+GGBi-Level Apartments+GGUnder Market Rents - Value Add
©2023 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 Paula Cashion | Keller Williams Central Delaware. 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: 2023-05-29T23:50:10.357.