Office/Medical Building Downtown Pottsville S 91 Progress Ave
9,800 SF 100% Leased Office Building Pottsville, PA 17901 $525,000 ($53.57/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Downtown Location.
- Highway Exposure, Private Entrance
- Plenty of nearby public parking.
EXECUTIVE SUMMARY
100 % Leased Downtown Pottsville Office/Medical Building. Located one block from Mahantongo Street parking deck. Recent renovations to the interior are still like new. Currently leased is the approximate 4,400 on the main level with three (3) room bonus area on an upper floor of approximately 1,000 square feet.
The ground level is approximately 4,400 square feet with a different Tenant. Both Tenants have Gross Leases. The Building is offered for sale at and approximate 7% CAP, $525,000.00. The initial five year term for the main floor Tenant started 12-1-2023, with options. The Tenant on the ground level floor has a 5 year lease that started July 1, 2023, with options. Both leases have annual 2% increases. Call for details.
The ground level is approximately 4,400 square feet with a different Tenant. Both Tenants have Gross Leases. The Building is offered for sale at and approximate 7% CAP, $525,000.00. The initial five year term for the main floor Tenant started 12-1-2023, with options. The Tenant on the ground level floor has a 5 year lease that started July 1, 2023, with options. Both leases have annual 2% increases. Call for details.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$97,956
|
$10.00
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$97,956
|
$10.00
|
| Taxes |
$15,000
|
$1.53
|
| Operating Expenses |
$46,380
|
$4.73
|
| Total Expenses |
$61,380
|
$6.26
|
| Net Operating Income |
$36,576
|
$3.73
|
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
9,800 SF
Building Class
C
Year Built/Renovated
1950/2002
Price
$525,000
Price Per SF
$53.57
Cap Rate
7%
NOI
$36,750
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
4,400 SF
Building FAR
2.05
Lot Size
0.11 AC
Zoning
C-3 - Zoning classification for general commercial uses, regional commercial, or heavy commercial use. Supports a variety of commercial activities
AMENITIES
- Atrium
- Bus Line
- Skylights
- Natural Light
1 of 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 68-28-0042.001 | Total Assessment | $183,615 |
| Land Assessment | $7,320 | Annual Taxes | $15,000 ($1.53/SF) |
| Improvements Assessment | $176,295 | Tax Year | 2024 |
