2822 Main StMorgantown, PA 19543

  • Retail properties
  • 3,577 SF
For Sale
$1,450,000 View listing

Property Details for 2822 Main St

Year built
1974
Construction
BRICK
Lot size
3.80 AC
Property size (Sq ft)
3,577 SF
Zone code
HCLI
Property type
Retail properties
Property subtype
Banks
APN
050-70479-0-0000
APU
507047900000

Description

This 6,400 square foot, two-story office building is situated on a 3.8-acre lot at 2822 Main Street in Morgantown, Pennsylvania (19543). Built in 1974, this Class C property offers excellent visibility and accessibility, located along the busy PA Route 23 corridor. Its strategic location provides easy access to Lancaster, Berks, and Chester Counties via major roadways including the PA Turnpike (2 miles west of the Morgantown exit) and PA Route 176. The property is zoned HWY Commercial/Light Industrial, making it ideal for a variety of uses. The former bank building presents an opportunity for an owner-user to leverage the existing structure and ample flat land for potential expansion or redevelopment. Concept drawings for the site are available. The high traffic volume (20,000 vehicles per day) on PA Route 23 ensures significant visibility. The township's business-friendly zoning and municipal environment further enhance the property's appeal. The asking price is $1,450,000, translating to $226.56 per square foot. The property's APN is 050-70479-0-0000.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $811,602
    6.5%
    $749,171
    7%
    $695,659
  • Comparable approach

    Method
    Valuation
    Relative Method
    $691,192
    Geo Method
    $1,177,774
  • Alternative Use

    Use
    Valuation
    Residential
    $631,954
    Hospitality
    $578,866
    Educational
    $481,610
    Medical
    $498,173
    Retail
    $749,171
2822 Main St, Morgantown, Pennsylvania

Location Insight

City
Morgantown
County
Lancaster
State
Pennsylvania
Latitude
40.1508
Longitude
-75.9032
CBSA code
29540
CBSA name
LANCASTER, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$7,309
$215,900
$234,700
$450,600
-
$215,900
$234,700
$450,600

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