Skip To Content

2 W Market Street

GRATZ, PA 17030
  • $300,000
  • STATUS: Active
  • ON SITE: 176 Days
  • ID#: PADA2026792
Price Reduced
UPDATED: 55 min ago
$300,000
  • 0
    BEDS
  • 0.33
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1935
County:

School Information

High School:
School District:

Description

GREAT INVESTMENT OPPORTUNITY! Once this building is completely renovated, projected rent should be in the 10k - 12k range. This commercial property is almost 10,000 sq ft and has ENDLESS EARNING possibilites! Located in the heart of the town with a very visible, easy access spot on Route 25, this mixed use building has so much to offer! The restaurant which was totally renovated in 2021 encompasses approximately 4000 sq ft on the first floor and is thriving. With a bar and two rooms for dining, there is plenty of sit down seating in the restaurant plus there is a small gift shop on site. Attached to the restaurant, there is a flex space with a half bathroom that could easily be convereted to a full bathroom and would be a perfect conference room, office space, hair salon, constructed into another apartment, or just used for an additional dining room for the restaurant if so desired. Beyond the restaurant's spacious and open kitchen is a sizable unfinished space that the sellers were entertaining turning into a laundromat or mini storage units. There is also a small shed like structure adjoining the kitchen space that could be a small coffee shop or ice cream stand. There are five apartments in this buiding all in different levels of renovation that need completed with the 3 bedroom apartment on the first floor being the closest to finished. The additional four other apartments are located on the 2nd and 3rd floors. Projected rents are as follows (please note these are estimates and what the future owner does in renovations to these apartments and how they are marketed in the future will dictate what exactly they get in rents):Apt 1: $1400/mo. (1st floor - 3 bed, 1 1/2 ba, approx 40 ft x 28 ft with an open laundry area, hardwood floors and ceramic tiles with private entrance)Apt 2: $1200/mo (2nd floor - 2 bd, 1 ba, approx 58 ft x 14 ft with hardwood floors and ductwork that needs to be removed to make the 2nd bedroom as well as a hall finalized as the 2nd exit for the 3rd floor apartment)Apt 3: $900/mo (2nd floor - 1 bd, 1 ba, approx 27 ft x 19 ft with hardwood floors)Apt 4: $900/mo (2nd floor - 1 bd, 1 ba approx 28 ft x 15 ft with hardwood floors)Apt 5: $1200/mo (3rd floor - 2 bd, 1 ba, approx 90 ft x 25 ft with hardwood floors, a mudroom, and a large wooden deck with steps down to the yard)There is a metal fire escape for the second floor apartments that needs attached to the building, and all 5 apartments have 2 exits. The restaurant rents for $2500/mo but fair market value should be approx $4500/mo.The conference room attached to the restaurant is approx 29 ft x 29 ft and rents would vary depending on what the future owner decides to do with this space. The shed like structure (perfect for a coffee shop/ice cream stand) is approx 24 ft x 10 ft and also would have rent dependent on future use and lease.This property sees a lot of through traffic with a variety of local attractions that pull thousands of visitors such as the Gratz Fair, the Crossroads Farmers Market & Auction, the Lykens Valley Golf Course, and Lake Tobias Wildlife Park.With its earning potential, visibility, and square footage, this is an investment opportunity that does not come along often and you don't want to miss!

Monthly Payment Calculator



©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices Homesale Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-03-03T12:51:37.177.
www.centralpahomesaleteam.com/homes/143245899
Print Image

2 W Market Street GRATZ, PA 17030

  • Price: $300,000
  • Status: Active
  • On Site: 176 Days
  • Updated: 55 min ago
  • ID#: PADA2026792
0
Beds
0
Baths
0
½ Baths
0.33
Acres
1935
Built
Neighborhood:
Gratz Boro (14027)
County:
Dauphin
Area:
Gratz Boro (14027)
High School:
Upper Dauphin Area
School District:
Upper Dauphin Area
Property Description
GREAT INVESTMENT OPPORTUNITY! Once this building is completely renovated, projected rent should be in the 10k - 12k range. This commercial property is almost 10,000 sq ft and has ENDLESS EARNING possibilites! Located in the heart of the town with a very visible, easy access spot on Route 25, this mixed use building has so much to offer! The restaurant which was totally renovated in 2021 encompasses approximately 4000 sq ft on the first floor and is thriving. With a bar and two rooms for dining, there is plenty of sit down seating in the restaurant plus there is a small gift shop on site. Attached to the restaurant, there is a flex space with a half bathroom that could easily be convereted to a full bathroom and would be a perfect conference room, office space, hair salon, constructed into another apartment, or just used for an additional dining room for the restaurant if so desired. Beyond the restaurant's spacious and open kitchen is a sizable unfinished space that the sellers were entertaining turning into a laundromat or mini storage units. There is also a small shed like structure adjoining the kitchen space that could be a small coffee shop or ice cream stand. There are five apartments in this buiding all in different levels of renovation that need completed with the 3 bedroom apartment on the first floor being the closest to finished. The additional four other apartments are located on the 2nd and 3rd floors. Projected rents are as follows (please note these are estimates and what the future owner does in renovations to these apartments and how they are marketed in the future will dictate what exactly they get in rents):Apt 1: $1400/mo. (1st floor - 3 bed, 1 1/2 ba, approx 40 ft x 28 ft with an open laundry area, hardwood floors and ceramic tiles with private entrance)Apt 2: $1200/mo (2nd floor - 2 bd, 1 ba, approx 58 ft x 14 ft with hardwood floors and ductwork that needs to be removed to make the 2nd bedroom as well as a hall finalized as the 2nd exit for the 3rd floor apartment)Apt 3: $900/mo (2nd floor - 1 bd, 1 ba, approx 27 ft x 19 ft with hardwood floors)Apt 4: $900/mo (2nd floor - 1 bd, 1 ba approx 28 ft x 15 ft with hardwood floors)Apt 5: $1200/mo (3rd floor - 2 bd, 1 ba, approx 90 ft x 25 ft with hardwood floors, a mudroom, and a large wooden deck with steps down to the yard)There is a metal fire escape for the second floor apartments that needs attached to the building, and all 5 apartments have 2 exits. The restaurant rents for $2500/mo but fair market value should be approx $4500/mo.The conference room attached to the restaurant is approx 29 ft x 29 ft and rents would vary depending on what the future owner decides to do with this space. The shed like structure (perfect for a coffee shop/ice cream stand) is approx 24 ft x 10 ft and also would have rent dependent on future use and lease.This property sees a lot of through traffic with a variety of local attractions that pull thousands of visitors such as the Gratz Fair, the Crossroads Farmers Market & Auction, the Lykens Valley Golf Course, and Lake Tobias Wildlife Park.With its earning potential, visibility, and square footage, this is an investment opportunity that does not come along often and you don't want to miss!
Exterior Features

Construction Materials FrameMasonryMetal Siding Garage YN No Parking Types Parking Lot Riparian Rights YN No Roof Composite Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 9734.00 Cooling Central A/CWindow Unit(s)Ductless/Mini-Split Exclusions All Restaurant and Kitchen Equipment and All Items Inside of the Building Heating Hot Water Heating YN Yes Net Square Feet 9734.00 Security Features Exterior CamerasMonitored

Property Features

Acceptable Financing CashConventionalBank Portfolio Accessibility Features None Assessment Year 2023 Business Type Apartment BuildingBanquet Facility/LodgeBed and BreakfastDay Care FacilityFlexOther/General RetailParking LotProfessionalRestaurant/BarStorage Central Air YN Yes Cooling Fuel Electric Cross Street CENTER Electric 200+ Amp Service100 Amp Service Elevators 0 Heating Fuel OilPropane - LeasedElectric Hot Water Propane Lease Considered YN No Municipality GRATZ BORO Navigable Water YN N New Construction YN No Number Of Units Total 0 Original MLSNumber 802597327472 Ownership Interest Fee Simple Possession Settlement Property Sub Type Five Or More Units Sale Type Third Party ApprovalStandard Sewer Public Sewer Tax Annual Amount 4102.00 Tax Assessment Amount 149400.00 Total Actual Rent 30000.00 Vacation Rental YN No Water Source Public Year Built Effective 2021 Zoning COMMERCIAL Zoning Description Commercial/Mixed Use/Apartments

Listing courtesy of RE/MAX Realty Associates: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices Homesale Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-03-03T12:51:37.177.
 
https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802597327472-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802597327472-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802597327472-2.jpg
Logo
Berkshire Hathaway HomeServices Homesale Realty
801 Belvedere St, Suite 100
Carlisle PA, 17013
\