1470 Baltimore PikeToughkenamon, PA 19374

For Sale
$915,000

Five-unit building, strong cash flow, turnkey operation.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a three-story, mixed-use building ideally situated in Toughkenamon, Pennsylvania, near Kennett Square. The property, encompassing 6,064 square feet of net rentable space, is comprised of five units: four commercial spaces (a bakery, barbershop, Mexican restaurant, and fitness center) and one residential apartment. All commercial tenants are under long-term leases, ensuring consistent income and stability for the investor. The building boasts a substantial 36-space parking lot, spread across two tax parcels (60-01Q-0009 and 60-01Q-0017), totaling 0.7 acres. Recent upgrades include a new roof, updated HVAC systems, and fresh exterior paint. Each unit features individual climate control (heat and air), separate utilities (electric and gas), and sub-metered water and sewer. The property is zoned HC and offers a pro-forma NOI of $76,110 and a pro-forma cap rate of 8.32%. The asking price is $915,000, and a 1031 exchange is permitted. This turnkey operation presents a rare opportunity for investors seeking a stable, high-performing asset in a desirable location. The property's strong tenant base and recent renovations make it an attractive investment with significant potential for future growth. The ample parking provides convenience for tenants and patrons.

Highlights

  • Three-story, mixed-use building in Toughkenamon, PA, near Kennett Square.
  • 6,064 square feet of net rentable space with five units: four commercial (bakery, barbershop, Mexican restaurant, fitness center) and one residential.
  • All commercial tenants under long-term leases.
  • 36-space parking lot on 0.7 acres (two tax parcels: 60-01Q-0009 and 60-01Q-0017).
  • Recent upgrades include new roof, HVAC, and exterior paint; individual unit climate control, separate utilities, and sub-metered water/sewer.
  • HC zoning, $76,110 pro-forma NOI, 8.32% pro-forma cap rate, $915,000 asking price; 1031 exchange permitted.

Property Details for 1470 Baltimore Pike

Property type
Other mixed-use properties, Other investment properties
Buildings
1
Stories
3
Lot Size (sq. ft)
30,492 SF

Location Insight

City
Toughkenamon
County
Chester
State
Pennsylvania
Latitude
39.832895225551
Longitude
-75.756877021892
1470 Baltimore Pike, Toughkenamon, Pennsylvania

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1470 Baltimore Pike
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