449 Ridge PikeLafayette Hill, PA 19444

Property Details for 449 Ridge Pike

Year built

1945

Lot size

0.60 AC

Property size (Sq ft)

1,652 SF

Zone code

B

Property type

Retail properties

Property subtype

Turn key restaurants

APN

65-00-09706-50-7

APU

650009706507

Description

Prime Lafayette Hill location, this established Italian restaurant, Sorrento's, is offered for sale. Family-owned and operated for over 40 years, this turnkey operation boasts a comfortable 60-seat interior and additional outdoor seating for 48 guests. The 2,000-3,000 square foot building, constructed in 1945 and renovated in 2020, sits on a 26,025 square foot lot with 154 feet of street frontage on Ridge Pike, a high-traffic area with over 15,000 cars passing daily. The ample parking lot features a double entrance and accommodates over 35 vehicles. The property is zoned under a grandfathered B residential permit. The sale includes the business, all equipment, and the fee-simple real estate. Occupancy is available September 9, 2024. This is a single-unit, Class B building with one story. A truly exceptional opportunity to own a well-established, profitable business in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $751,138

  6.5%

  $693,358

  7%

  $643,832

• Comparable approach

  Method

  Valuation

  Relative Method

  $657,724

  Geo Method

  $543,943

• Alternative Use

  Use

  Valuation

  Residential

  $584,873

  Hospitality

  $535,741

  Educational

  $445,730

  Medical

  $461,059

  Retail

  $693,358

Location Insight

City

Lafayette Hill

County

Montgomery

State

Pennsylvania

Latitude

40.0874

Longitude

-75.2598

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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