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Kevin Heselbach

Engel & Völkers

[email protected] +1(301) 501-2463

$ 825,000

Est. payment -/mo

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Active

22 N STATE ST York, PA 17403

3,480 SqFt

UPDATED:

12/02/2024 06:50 PM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 3,480 sqft

Price per Sqft $237

MLS Listing ID PAYK2072818

Originating Board BRIGHT

Year Built 1910

Annual Tax Amount $2,369

Tax Year 2024

Lot Size 1,590 Sqft

Acres 0.04

Property Sub-Type Mixed Use

Property Description

Prime investment opportunity at 22 N State St! This mixed-use commercial property offers immediate income potential and significant value-add opportunities. The first floor is leased to a long-term tenant at $2,500/month, with an additional newly approved commercial space in the lower level (separate entrance) projected to rent for $900-$1,000/month. Four residential units on the upper floors, each with private entrances, generate a total of $6,850/month (Units 1 & 2 at $1,850 each with recent increases, and Units 3 & 4 at $1,650 and $1,500, both month-to-month with room for rent adjustments). The 14-space parking lot serves tenants and commercial use, with one space currently rented for $50/month and potential for more. Recent upgrades include a fully replaced roof (2 years), and updates to electrical, plumbing, security and fire systems, and exterior (all within 3 years). The property is currently at a 9% CAP rate and 10.6% cash-on-cash return, with the potential to exceed a 11% CAP rate and 17% cash-on-cash return with market rent adjustments. Don't miss this high-performing asset—contact us today for detailed financials and a private tour!

Location

State PA

County York

Area York City (15201)

Zoning COMMERCIAL

Interior

Hot Water Natural Gas, Electric

Heating Baseboard - Electric, Forced Air

Cooling Central A/C, Window Unit(s)

Heat Source Electric, Natural Gas

Exterior

Garage Spaces 16.0

Water Access N

Roof Type Rubber

Accessibility 2+ Access Exits

Total Parking Spaces 16

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District York City

Others

Tax ID 12-379-08-0009-00-00000

Ownership Fee Simple

SqFt Source Assessor

Security Features Fire Detection System,Monitored

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

Listed by Adam Druck • Inch & Co. Real Estate, LLC

Kevin Heselbach

Associate Broker | License ID: 603734

+1(301) 501-2463

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