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201 Chester Pike

881 SF Office Building Norwood, PA 19074 $590,000 ($670/SF) 9% Cap Rate

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Executive Summary

This is actually a combined sale of two adjacent properties - 201 and 207 Chester Pike. 201 is a mixed-use building comprised of a storefront (currently occupied by a long-term tenant who would prefer to remain but may be vacated) and a house upstairs set up as two apartments (one used as an office currently and needs a kitchen to be used as a residence). 207 is a house set up as two apartments. Additionally, there are six cars worth of garages. This corner property is adjacent to Norwood Borough Hall and the Police Station. Total square footage is approximately 5000, and total land area is 0.39 acre. Owner has just completed replacing the electric service cable in 201, having sidewalks brought up to code, as well as exterior painting of all wood trim and railings.

zoning

pro forma