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Key Details
Sold Price $800,000
Property Type Commercial
Sub Type Commercial,Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 34,520 sqft
Price per Sqft $23
MLS Listing ID 725149
Sold Date 04/30/24
Year Built 1900
Annual Tax Amount $43,977
Lot Size 1.160 Acres
Property Description
Small Strip shopping center located at the corner of Butler and Palmer St consisting of 1.16 acres. Current tenants include Dollar Store, Insurance Office, Check Clearing, Garages, Restaurant, and Billboard. Ample off street parking.
Dollar General: 8184/sqft current rent $4,750/mo through 2026 with options to renew
Restaurant/George's: $1100/mo
Insurance Office: $1000/mo
United Clearing: $1000/mo
Garage Rental: $500/mo
Adam's Outdoor Billboard: $4,000/YEAR
Former Magistrate's Office: Vacant, estimated rent $2,500/mo
Annual Taxes: $42,690.96
-Dollar General is responsible for 23.8% of the taxes (based off their used square footage compared to total square footage of the building). They pay $10,172.89 of the total tax bill (which brings the effective tax bill to $32,518.07 for the owner)
Owner's annual insurance is $11,160.00 (based off a $1.34 million policy)
Expenses- Tenants are responsible for water and sewer. Only utilities currently paid by owner are the two vacant units ($82/unit for electric)
Lower level space formerly Two Rivers Music Store, approx 10,000 sq ft finished (12,000 sq ft total) for rent at $2,500/mo +utilities. Entrance on Palmer St.
Adjacent property with different owner is also currently available for sale which could add an additional 1.2 acres of commercial space for a total of 2.48 acres.
Location
State PA
County Northampton
Area Wilson
Interior
Cooling Central AC
Exterior
Garage Off Site, On Site
Garage Spaces 40.0
Building
Sewer Public
Water Public
New Construction No
Schools
School District Wilson
Others
Financing Cash,Conventional
Special Listing Condition Not Applicable
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Bought with BHHS Paul Ford Easton