Commercial Property – Seller Finance at 3%
1935 W Market St. Pottsville, PA 17901
Asking Price: $675,000 – Seller Finance Available
Images and all deal info courtesy of Lenny Wyda
Photos Link
*GIS Map and Floor Plans Included
https://photos.app.goo.gl/w3V1moznEEQJtSYv8
Seller Finance:
- Purchase Price: $675,000
- Down Payment: $81,250
- Loan Amount: $593,750
- Interest Rate: 3%
- 28 year Amortization Schedule
- Monthly Payment: $2604.21
- 10 year balloon payment
-
First payment not due until 6 MONTHS AFTER PURCHASE!
- No pre payment penalty
Buy & Hold Overview
Current
- Gross Rents: $100,440
- Annual NOI: $49,093.55 (No hold backs for, maintenance/vacancy/management)
- Cap Rate: 7.85% with no holdbacks, 5% with 20% expense holdback
- Lease Type: Month to month
- First Floor: $3,885 m/o
- Second Floor $4,485 m/o
Projected (After Split Utilities)
- Gross Rents: $100,440
- Annual NOI: $50,561.16 (20% maintenance/vacancy/management hold back included)
- Cap Rate: 8.09% with 20% expense holdback
- Cash on Cash Return: 14.85%
Highlights
- Long Term Tenants for 10+ years
- Month to Month leases in place currently
- First payment not due until 6 months after closing to allow for renovations/utility splits to take place before payments start!
- 30-40 total Parking spots
Repairs
(Optional) Utilities (electric/heat) need to be separated to maximize cash flow / Parking Lot retaining wall starting to lean in one corner
Utilities
- Heat: Paid by landlord currently
- Electric: Paid by landlord currently
- Water/Sewer: Paid by landlord currently
- Trash: Paid by landlord currently
*Current Owner Expenses*
| Current Expenses: | Month | Year |
| Debt | 0.00 | 0.00 |
| water, sewer, trash | $695.00 | $8,340.00 |
| Heat | $253.70 | $3,044.40 |
| electric | $1,542.60 | $18,511.21 |
| taxes | $350.00 | $4,200.00 |
| Insurance | $1,437.57 | $17,250.84 |
| Maintenance/Vacancy (10%) | $0.00 | $0.00 |
| Management (10%) | $0.00 | $0.00 |
| Current Total Expenses: | $4,278.87 | $51,346.45 |
Property Details
- Baths: 7
- Square Footage: 26,361 per county website
- Lot Size: 0.67
- Year Built: 1920
- Zoning: Commercial Combination
- Heat: This facility uses electric split-system heat pumps and indoor air handlers to distribute forced-air heating and cooling. Also has Weil-McLain high-efficiency gas boiler used for hydronic space heating.
- Electric:
Current State: The main electrical room houses the master disconnect switches, gutter trough, and primary service panels that feed local subpanels (such as the Square D and GE panels on each floor) through a single utility meter.
Required Scope: An electrician or utility provider must install a multi-meter socket enclosure (or submeters) at the service entrance, re-routing individual branch panel feeders so that each floor’s electrical loads are metered independently for separate utility billing.
- Plumbing: Copper + PVC Mix
- Water: Public
- Sewer: Public
- Roof: 20 year old rubber
- Foundation: Concrete
- Parking: Parking in front of building 6-8 spots / Rear lot 25-35 spots
- Flood Zone: No
- Mold Noted: No
- Water Damage: No
- Water in Basement: Yes / Sump pump
- Taxes: $4,200
Comparable Rents
Contact Us to Schedule a Walkthrough
The Melito & Koch Team
- Lenny Wyda Direct Line: 570-419-0921
- Lenny Wyda Email: Lenny@meltioandkoch.com
- Website: melitoandkoch.com
- Facebook: The Melito & Koch Team
Disclosures
- ORAL CONSUMER NOTICE:
- The Real Estate Law requires that I provide you with a written notice that describes the various business relationship choices that you may have with a real estate licensee. Since we are discussing real estate without you having the benefit of the consumer notice, I have the duty to advise you that any information you give me at this time is not considered to be confidential, and any information you give me will not be considered confidential unless and until you and I enter into a business relationship. At our first meeting I will provide you with a written consumer notice which explains those business relationships and my corresponding duties to you.
- HOLD HARMLESS ACKNOWLEDGEMENT:
- The information contained in this email, including attachments, is confidential and may be legally privileged. It is intended solely for the use of the individual or entity to whom it is addressed. If you are not the intended recipient, please notify the sender immediately and delete this email. Real estate investment carries inherent risk, and this email does not constitute legal or financial advice. While I strive to provide accurate and up-to-date information, I make no warranties regarding the correctness of the data or the viability of the investment strategies discussed. By using the information provided, you agree to hold harmless The Melito & Koch Team Realty ONE Group Supreme, or any other entity related to our relationship- for any reliance on the content of this correspondence. Investment decisions should be made based on your own due diligence and consultation with financial and legal advisors. As a real estate agent, I provide services to assist in purchasing properties and analyzing data; however, the ultimate responsibility for investment decisions lies with the investor.
- DUE DILIGENCE:
- This deal must be analyzed individually. Investment returns are not guaranteed. All investors should conduct their due diligence. The Melito & Koch Team, Realty ONE Group Supreme, and associated parties are not liable for any inaccuracies or reliance on this information.
