119 Chester PikeNorwood, PA 19074

Property Details for 119 Chester Pike

Year built

1917

Lot size

0.34 AC

Property size (Sq ft)

3,607 SF

Property type

Investment properties

Property subtype

Live-work space

APN

31-00-00084-00

APU

31000008400

Description

This exceptional commercial property at 119 Chester Pike in Norwood, PA, offers approximately 2,000 square feet of versatile retail space. Currently operating as a successful education/childcare center, the building boasts a fully functioning layout ready for immediate occupancy or adaptable to a variety of uses. The property includes a significant advantage with a large on-site parking lot, catering to ample customer or client parking needs. Further enhancing its appeal is a fully fenced outdoor play area and additional land, providing extra space and potential for expansion or outdoor activities. The building's prominent location on Chester Pike ensures high visibility and excellent signage opportunities, maximizing exposure to a substantial daily traffic volume. The highway commercial zoning allows for a wide range of potential uses. An intriguing possibility exists for a second-floor residential conversion, subject to local regulations and approvals, offering additional income potential or expanded living space. This property presents a unique opportunity for investors and business owners seeking a well-located, adaptable commercial space with significant upside potential. The asking price is $400,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,015,670

  6.5%

  $937,541

  7%

  $870,574

• Comparable approach

  Method

  Valuation

  Relative Method

  $471,291

  Geo Method

  $471,291

• Alternative Use

  Use

  Valuation

  Residential

  $1,162,551

  Hospitality

  $1,064,890

  Educational

  $885,976

  Medical

  $916,446

  Retail

  $1,378,186

Location Insight

City

Norwood

County

Delaware

State

Pennsylvania

Latitude

39.8926

Longitude

-75.2967

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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