108 State StKennett Square, PA 19348

Property Details for 108 State St

Year built

1910

Lot size

0.06 AC

Property size (Sq ft)

7,761 SF

Zone code

C2

Property type

Turn key restaurants

APN

0302 02720000

APU

30202720000

Description

This exceptional three-story commercial building, located at 108 West State Street in Kennett Square, Pennsylvania, presents a unique investment opportunity. The property boasts a substantial 7,000 square feet of space, currently configured as a restaurant with office space and the potential for an apartment conversion. The building's zoning is C-2, allowing for a variety of commercial uses within the Kennett Square Borough. The asking price of $1,900,000 includes the building, its existing furniture, fixtures, and equipment (FF&E), valued at $1,500,000. A separate "R" liquor license is available for an additional $400,000. The total square footage, including a basement, is approximately 8,165 square feet, spread across three floors, offering ample space for expansion or adaptation to suit diverse business needs. This prime location in the vibrant Kennett Square community provides excellent visibility and accessibility, making it an ideal investment for discerning entrepreneurs seeking a well-established commercial property with significant potential. The property's history and character add to its appeal, offering a blend of classic charm and modern functionality. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $4,229,532

  6.5%

  $3,904,184

  7%

  $3,625,313

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,600,549

  Geo Method

  $2,555,412

• Alternative Use

  Use

  Valuation

  Residential

  $3,293,325

  Hospitality

  $3,016,668

  Educational

  $2,509,832

  Medical

  $2,596,149

  Retail

  $3,904,184

Location Insight

City

Kennett Square

County

Chester

State

Pennsylvania

Latitude

39.8466

Longitude

-75.7112

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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