232 Main StMercersburg, PA 17236

  • Mixed-use properties
  • 0.23 AC
For Sale
$425,000 View listing

Property Details for 232 Main St

Lot size
0.23 AC
Property type
Mixed-use properties
Property subtype
Other investment properties
APN
14-3A12-26
APU
143A1226

Description

This unique investment opportunity in historic Mercersburg, PA, presents a compelling blend of commercial and residential income streams. Located at 232 N Main Street, the property boasts 12,792 square feet on a 0.63-acre lot with excellent visibility and frontage on Route 16. The commercial space, occupying the first floor, offers ample retail or commercial space, complemented by substantial storage and warehouse areas in the rear. Currently leased with a tenant holding a two-year lease with annual increases, this space generates significant income. Above the commercial space, the second floor comprises two residential apartments occupied by long-term tenants, contributing further to the property's overall revenue generation. The gross annual income from the entire property exceeds $56,000. The property is divided into three separately parceled units: one commercial and two residential. This strategic configuration offers flexibility and potential for future development or expansion. The property's prime location and established income streams make it an attractive investment for discerning buyers seeking a diversified portfolio. While photos of the apartments are unavailable to protect tenant privacy, interested parties are encouraged to schedule a viewing to fully appreciate this exceptional opportunity. Further details are available upon request.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,137,618
    6.5%
    $1,973,186
    7%
    $1,832,244
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,023,312
    Geo Method
    $2,003,199
  • Alternative Use

    Use
    Valuation
    Residential
    $2,446,750
    Hospitality
    $2,241,210
    Educational
    $1,864,661
    Medical
    $1,928,789
    Retail
    $2,900,583
232 Main St, Mercersburg, Pennsylvania

Location Insight

City
Mercersburg
County
Franklin
State
Pennsylvania
Latitude
39.8328
Longitude
-77.9045
CBSA code
16540
CBSA name
CHAMBERSBURG, PA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$7,062
$1,800
$35,180
$36,980
-
$1,800
$35,180
$36,980

FAQs

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