Bob Miller
(302) 420-6417
Bill Luke
(302) 299-7903
Licensed in Delaware & Pennsylvania

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120 N MAIN STTelford, PA 18969 0

$600,000
Commercial
Status: Contract Pending
  • Sqft:4,224
  • Lot:0.31 acre
  • MLS#: PAMC103888
40.325508117675781-75.329551696777344
Courtesy Of Keller Williams Real Estate-Montgomeryville

Description:

The Towne Restaurant is a landmark establishment that until its recent closure has operated continuously since 1966. There have been three to four owners during that time (depending on what local historian you believe) with virtually no downtime in the transitions between owners. The restaurant space has a total seating capacity of 73 including a counter area and two Dining Rooms. Extensive restaurant renovations (new LED lighting, ceiling tiles, Karadeen vinyl plank flooring, carpeting, paint, etc.) and exterior painting completed in 2014. This mixed use building consists of approximately 2,492 sq ft of commercial space on 1st level and 2 residential apartments on the second level. Total above grade space is estimated at 4,224 sq ft. The basement provides approximately 1,480 sq ft of storage & utility space. The entire rear portion of the property is a macadam parking lot with 9 spaces. Additional unpaved parking spaces are used with unwritten permission of the railroad company that owns approximately 8' of the gravel area. This arrangement has been in place for decades. The apartments have an excellent rental history. The 1 Bedroom apartment known as 124 North Main Street is gorgeous. Built in 2011 this unit includes high ceilings with fans, multiple energy-efficient windows, Living Room (17 x 16), Kitchen (11' x 10'), Bedroom (14 x 12), Bath (11' x 6"), and ample closet space. Rent is $800/mo. plus heat and electric (electric heat pump provides heat and central air; hot water is provided by Landlord). The 2 Bedroom apartment known as 122 North Main Street includes Living Room (18' x 11'), Kitchen (16' x 10') with Breakfast bar, Main Bedroom (12' x 11'), Bedroom 2 (12' x 10") and Bath. Rent is $750/mo. plus electric and gas for cooking (heat and hot water are included). Both apartments are on month-to-month leases. The income for the restaurant space is projected at $25/SF, or $60,000/year. Gross Annual Income for the apartments is $18,000, for to

Main Features:

Listing Status Contract Pending Year Built 1885
School District SOUDERTON AREA County Montgomery
Taxes $8,913.00 Tax Year 2018
Rental Price $0 Subdivision None Available

Additional Features:

Air Conditioning Yes
Building Area Source Estimated
Business Type Apartment Building
Cooling Central A/C
Ductless/Mini-Split
Cooling Fuel Electric
Exterior Amenities Public Transport Nearby
Sign
Fireplace Y/N No
Flooring Carpet
Laminated
Vinyl
Heating Forced Air
Hot Water
Heating Fuel Electric
Oil
Location Suburban
New Construction No
Parking Free
Surface
Unassigned
Possession Immediate
Rental Features No
Road Maintenance Boro/Township
State
Rooms Master Bedroom
Sale Includes Land and Building
Sewer Public Sewer
Topography Level
Utilities Above Ground
Cable TV Available
Electric Available
Natural Gas Available
Phone
Sewer Available
Water Available
Water Access No
Water Heater Oil
Water Source Public
Waterfront No

Extra Features:

Building Square Feet 4224.00 List Type (Exclusive) Exclusive Right
MLSSystem ID TREND Price Per SQFT 142.05

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Information deemed reliable but not guaranteed.
Copyright© 2019 Bright MLS. All Rights Reserved.
Last Updated On: 10/14/2019 5:35:34 PM

120 N MAIN ST, Telford, PA 18969

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Copyright© 2019 Bright MLS. All Rights Reserved.
Last Updated On: 10/14/2019 5:35:34 PM

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