489 Main StMontrose, PA 18801
- Mixed-use properties
- 0.04 AC
Property Details for 489 Main St
- Lot size
- 0.04 AC
- Property type
- Mixed-use properties
- Property subtype
- Other investment properties
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
FAQs
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