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2 W Market St

Gratz, Pennsylvania, 17030, United States

Property ID: #766478 // commercial
2 W Market St
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Traditional Sale
List Price:
$275,000.00
Icon 9,734 ft²
Icon 0.33 acres
Icon - beds
Icon - baths
Address:
2 W Market St
City:
Gratz
State:
Pennsylvania
Zip Code:
17030
County:
DAUPHIN
Country:
United States
Property Type:
Commercial
Additional Property Types:
Multi-Family
Year Built:
1935
Property Size:
9,734 ft²
Lot Size:
0.33 acres
Data Source:
BrightMLS
MLS/Reference Number(s):
PADA2026792
Source Status:
Active
Source Property Type:
Commercial, Five Or More Units

Property Provided By

  • TONYA M LUCAS
  • RE/MAX Realty Associates
  • +1 (717) 608-2426
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Property Information

GREAT INVESTMENT OPPORTUNITY! Once this building is completely renovated, projected rent should be in the 10k - 12k range. This commercial property is almost 10,000 sq ft and has ENDLESS EARNING possibilites! Located in the heart of the town with a very visible, easy access spot on Route 25, this mixed use building has so much to offer! The former restaurant which was totally renovated in 2021 encompasses approximately 4000 sq ft on the first floor. With a bar and two rooms for dining, there is plenty of room for seating in the restaurant plus there was a small gift shop on site. Attached to the former restaurant, there is a flex space with a half bathroom that could easily be converted to a full bathroom and would be a perfect conference room, office space, hair salon, constructed into another apartment, or just used for an additional dining room for the restaurant if so desired. Beyond the former restaurant's spacious and open kitchen is a sizable unfinished space that the sellers were entertaining turning into a laundromat or mini storage units. There is also a small shed-like structure adjoining the kitchen space that could be a small coffee shop or ice cream stand. There are five apartments in this buiding all in different levels of renovation that need completed with the 3 bedroom apartment on the first floor being the closest to finished. The additional four other apartments are located on the 2nd and 3rd floors. Projected rents are as follows (please note these are estimates and what the future owner does in renovations to these apartments and how they are marketed in the future will dictate what exactly they get in rents): Apt 1: $1400/mo. (1st floor - 3 bed, 1 1/2 ba, approx 40 ft x 28 ft with an open laundry area, hardwood floors and ceramic tiles with private entrance) Apt 2: $1200/mo (2nd floor - 2 bd, 1 ba, approx 58 ft x 14 ft with hardwood floors and ductwork that needs to be removed to make the 2nd bedroom as well as a hall finalized as the 2nd exit for the 3rd floor apartment) Apt 3: $900/mo (2nd floor - 1 bd, 1 ba, approx 27 ft x 19 ft with hardwood floors) Apt 4: $900/mo (2nd floor - 1 bd, 1 ba approx 28 ft x 15 ft with hardwood floors) Apt 5: $1200/mo (3rd floor - 2 bd, 1 ba, approx 90 ft x 25 ft with hardwood floors, a mudroom, and a large wooden deck with steps down to the yard) There is a metal fire escape for the second floor apartments that needs attached to the building, and all 5 apartments have 2 exits. The restaurant rented for $2500/mo but fair market value should be approx $4500/mo. The conference room attached to the restaurant is approx 29 ft x 29 ft and rents would vary depending on what the future owner decides to do with this space. The shed like structure (perfect for a coffee shop/ice cream stand) is approx 24 ft x 10 ft and also would have rent dependent on future use and lease. This property sees a lot of through traffic with a variety of local attractions that pull thousands of visitors such as the Gratz Fair, the Crossroads Farmers Market & Auction, the Lykens Valley Golf Course, and Lake Tobias Wildlife Park. With its earning potential, visibility, and square footage, this is an investment opportunity that does not come along often and you don't want to miss!

Directions

I-81 N 5.6 mi Use the right 2 lanes to take exit 67A-67B to merge onto US-22 W/US-322 W toward Lewistown W/State College 6.1 mi Take the PA-225 N exit toward Halifax 0.5 mi Continue onto PA-225 N 21.9 mi Turn right onto PA-25 E/E Market St Continue to follow PA-25 E Destination will be on the right

Source Disclaimer

BrightMLS

Listing Information © 2024 BrightMLS. All Rights Reserved.
Courtesy of TONYA M LUCAS, RE/MAX Realty Associates office@capitalareahomes.com
This information is provided exclusively for consumers' personal, non-commercial use; that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by BrightMLS. Information may appear from many brokers but not every listing in BrightMLS is available.
This content last updated on 2024-05-15 02:37:39.


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