232 Main StMercersburg, PA 17236

Property Details for 232 Main St

Lot size

0.23 AC

Property type

Investment properties

Property subtype

Live-work space

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.

• 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

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

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