489 Main StMontrose, PA 18801

Property Details for 489 Main St

Lot size

0.04 AC

Property type

Investment properties

Property subtype

Live-work space

APN

124.13-3,017.00,000.

APU

12413301700000

Description

This commercially zoned property at 489 S Main Street, Montrose, PA, offers a fantastic investment opportunity. The 2,100 square foot building sits on a 0.4-acre lot and features a ground floor retail space previously occupied by a thriving bridal shop. The recent success of this retail tenant speaks to the property's excellent location and potential. Upstairs, you'll find two one-bedroom, one-bathroom apartments, providing additional income streams. The building boasts vinyl siding for low maintenance, updated electrical systems, and oil hot water heating. The rubber roof has been treated with a silver reactive mesh sealant, offering an estimated 25-year lifespan. The community is investing in a sidewalk replacement, further enhancing the property's curb appeal. Ample public and metered parking is conveniently located nearby. The property is being sold in "as is" condition. This is an exceptional chance to acquire a versatile commercial property in a desirable location with immediate income potential from both the retail space and the residential apartments. The combination of retail and residential use makes this a unique and attractive investment. Don't miss this opportunity to own a piece of Montrose's vibrant commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $303,437

  6.5%

  $280,095

  7%

  $260,089

• Comparable approach

  Method

  Valuation

  Relative Method

  $152,624

  Geo Method

  $227,610

• Alternative Use

  Use

  Valuation

  Residential

  $347,318

  Hospitality

  $318,142

  Educational

  $264,690

  Medical

  $273,793

  Retail

  $411,740

Location Insight

City

Montrose

County

Susquehanna

State

Pennsylvania

Latitude

41.8327

Longitude

-75.8793

Property Tax & Assessments

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