1060 Greeley AveIvyland, PA 18974

Property Details for 1060 Greeley Ave

Year built

1901

Lot size

0.25 AC

Property size (Sq ft)

14,890 SF

Zone code

R1

Property type

Retail properties

Property subtype

Retail space

APN

17-003-021

APU

17003021

Description

This expansive 17,914 square foot, three-story building presents a remarkable investment opportunity in the desirable borough of Ivyland, Pennsylvania. Situated on a 0-acre lot at 1060 Greeley, this property offers a blank canvas for a variety of commercial ventures. Significant renovations have already been completed, including a new roof, partial new siding, several new windows, new gutters, new doors, and a new fire alarm system, significantly reducing the upfront investment required. The building's substantial size allows for numerous possibilities. A potential development plan includes eight condominium units, each approximately 2,100 square feet, offering strong earning potential. Alternatively, the property's layout and size are well-suited for an agricultural center, including an indoor farm, grow facility, or even a medical marijuana dispensary (subject to local zoning regulations). Other potential uses include a lumber yard or repair shop. The property's versatility is further enhanced by its location in a highly desirable area within a great town. While photographs showcase a portion of the building, a personal viewing is highly recommended to fully appreciate its scale and potential. Prospective buyers are advised to conduct their due diligence with the Borough Zoning Board to confirm the feasibility of their intended use. Priced at $875,000, this property represents a unique chance to acquire a substantial commercial space with significant upside.

• CAP approach

  CAP return

  Valuation

  6%

  $3,618,790

  6.5%

  $3,340,421

  7%

  $3,101,820

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,902,729

  Geo Method

  $4,902,729

• Alternative Use

  Use

  Valuation

  Residential

  $2,817,770

  Hospitality

  $2,581,062

  Educational

  $2,147,414

  Medical

  $2,221,266

  Retail

  $3,340,421

Location Insight

City

Ivyland

County

Bucks

State

Pennsylvania

Latitude

40.2089

Longitude

-75.0752

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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