DAYCARE or REDEVELOPMENT OPPORTUNITY | 2304 S 5th St
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DAYCARE or REDEVELOPMENT OPPORTUNITY 2304 S 5th St
6,988 SF Retail Building Allentown, PA 18103 $745,000 ($107/SF)
Investment Highlights
- Existing Daycare Use or Redevelopment Opportunity
Executive Summary
This listing is for the sale of 2304 S 5th Street and includes 2321 S Alice Street. This listing of these two parcels provides several opportunities for use and development. 2304 S 5th Street offers three buildings on 1/3 of an acre just south of Emmaus Ave. The seller operated a daycare here for over 50 years & was truly a pillar of the community. Countless children from the community were provided an invaluable springboard for their early lives & the lives of their working families. The daycare operated continuously until '22 and all structures were permitted for daycare and related activities. Outdoor play space is located in the center of the parcel and a fence enclosure surrounds the property. The buildings include a 3,328 SF daycare on two levels, the original home offers 2,620 SF & the third building was used as a recreation building with 1,040 SF. 2321 S Alice Street is a flat parcel immediately across the S. East alley-way from 2304 S 5th. This tree lined property served the neighborhood and the daycare as an idyllic recreation space. The zoning for both parcels is RL – Low Density Residential providing the Buyer an option to make use of the property for daycare operations or consider residential development. Daycare business owners and savvy investors will see the potential and value in this sale. The 3 structures need varying amounts of renovation and the permitted daycare use is invaluable to a new owner or for a daycare business as a tenant.
Property Facts Under Contract
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Day Care Center
Building Size
6,988 SF
Building Class
C
Year Built
1971
Price
$745,000
Price Per SF
$107
Tenancy
Single
Building Height
2 Stories
Building FAR
0.18
Lot Size
0.87 AC
Zoning
R-L - Residential
Parking
20 Spaces (2.86 Spaces per 1,000 SF Leased)
Frontage
Walk Score ®
Very Walkable (73)
Nearby Major Retailers
PROPERTY TAXES
Parcel Numbers | Improvements Assessment | $329,700 | |
Land Assessment | $119,800 | Total Assessment | $449,500 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$119,800
Improvements Assessment
$329,700
Total Assessment
$449,500
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DAYCARE or REDEVELOPMENT OPPORTUNITY | 2304 S 5th St
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