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1132 W Main Street, Norristown, PA 19401
$945,000
1132 W Main Street, Norristown, PA 19401View this property at 1132 W Main Street, Norristown, PA 19401
1132 W Main StreetNorristownPA19401
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Property Description
Mixed-Use apartment building now For Sale. This 7 Unit building located in Norristown has 6 residential units and a commercial space occupied by a Restaurant that has been at this location for 45 years. Here is an opportunity to own a profitable investment property. In a town that is starting to see growth that it has not seen in many years! Alfredo's Restaurant takes up the entire 1st floor of this 5,685 sq. ft. Building. There are 6 licensed residential rental units plus the restaurant all on the premises. There is a 1st floor Efficiency apartment with tenant paying their own electric, 3 units on the 2nd floor, a 2 bedroom with an outside deck that also has all utilities including heat and hot water completely separate. There are 2 other 2nd floor Efficiency units also that have separate electric meters. On the 3rd floor there are 2 more units these are boarding room units in good condition. All units and the restaurant are officially licensed. The building will meet all of the Municipality of Norristown's requirements even Norristown's latest added Fire Egress Safety Requirement. The location of this property cannot be beat it is located on the very West end of Norristown just below the West Norriton Township line and only 1 mile from the center of Town where the new Justice Center is currently being built. Be a part of Norristown's amazing growth! It has been many years since you could look at Norristown from the Bridgeport side or any of the surrounding Townships and see 2 large Tower Cranes above its skyline! Come and join some of the Country's top franchises that have come to Norristown such as Chase Bank, Dunkin Donuts, McDonalds, Domino's, Royal Farms, Aaron's and others. Note: The Restaurant is owned by the Seller and there is a Lease in place, the current Restaurant Tenant will remain in place after the sale. The Owner of the Restaurant will entertain any Buyers who are interested in purchasing the restaurant as well.
Full Property Details
Full Property Details for 1132 W Main St
General
- Price: $945,000
- Taxes: $10,979 (2023)
- Status: Active
- Type: Business
- MLS ID: PAMC2103014
- Updated: 5/9/2024
- Added to Site: 16 day(s) ago
Business
- Business Type: Apartment Building, Restaurant/Bar
Rooms
Bathrooms
- Restrooms: 2
Parking
- Total Spaces: 3
- Parking Type: Driveway
Location
- Area: Norristown Boro (10613)
- Municipality: NORRISTOWN BORO
- County: Montgomery
- Development Name: Norristown
- Subdivision: Norristown
- Cross Streets: Hamilton
- Driving Directions: West on Main St. located on left corner of Main & Hamilton St.'s
School Information
- Elementary School: Marshall Street
- Middle School: Stewart
- High School: Norristown
Heating & Cooling
- Cooling Type: Other
- Cooling Fuel: Electric
- Heating Type: Hot Water
- Heating Fuel: Natural Gas
- Water Heater: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Construction: Asphalt, Brick, Concrete, Copper Plumbing, Masonry, Mixed Plumbing
- Foundation: Stone
- Roof: Asphalt, Rubber, Shingle
- Stories/Levels: 3
- Year Built: 1910
- Year Built Source: Assessor
- Property Condition: Very Good
Unit Information
- # Tenants: Multiple
- Other Units: Unit 1, Unit 2, Unit 4, Unit 5, Unit 3, Unit 6, Unit 7
Unit 1
- Unit Description: Unit 3
Unit 2
- Unit Description: Unit 5
Unit 3
- Unit Description: Unit 1
Unit 4
- Unit Description: Unit 4
Unit 5
- Unit Description: Unit 6
Unit 6
- Unit Description: Unit 2
Unit 7
- Unit Description: Unit 7
Lot Features
- Lot Size (Acres): 0.1
- Lot Size (Sq. Ft.): 4,400
- Lot Size Source: Assessor
- Lot Dimensions: 40.00 x 0.00
- Street/Road Desc.: Black Top
- Fence: Yes
- Zoning: COMM. OFFIC, RETAL, APTS
Financial Considerations
- Price Per Sq. Ft.: $166.23
- Operating Expenses: $23,925
- Annual Heat Cost: $3,600
- Assessment Year: 2023
- School Tax: $7,075
- City/TownTax: $3,068
- City/TownTax Freq: Annually
- County Tax: $764
- County Tax Freq: Annually
- Tax w/Assessment: $180,490
- Tax Amount: $10,979
- Tax Year: 2023
- Owner Pays: Advertising/Licenses and Permits, Common Area Maintenance, Insurance, Miscellaneous
- Landlord Pays: Advertising/Licenses and Permits, Common Area Maintenance, Insurance, Miscellaneous
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.5%
- Ownership: Fee Simple
- Exclusions: Tenants' personal belongings
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Schools
Schools serving 1132 W Main St
School District:Norristown Area School District
Rating | Name | Grades | Distance |
---|---|---|---|
1315 W Marshall St, Norristown, PA 19401 | 5-8 | 0.3 mi | |
399 N Whitehall Rd, Norristown, PA 19403 | K-4 | 1.6 mi | |
330 Roland Dr, Norristown, PA 19401 | 5-8 | 3 mi | |
1900 Eagle Dr, Norristown, PA 19403 | 9-12 | 1.8 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1132 W Main St
Date
Details
Price
Change
Source
5/01/2024
Listed
$945,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1132 W Main St
Year
Property Taxes
Change
Tax Assessment
Change
2023
$11,078
1%
$180,490
—
2022
$10,979
2%
$180,490
—
2021
$10,742
2%
$180,490
—
2020
$10,509
3%
$180,490
—
2020
$10,198
2%
$180,490
—
2019
$10,011
2%
$180,490
—
2018
$9,824
7%
$180,490
—
2017
$9,194
3%
$180,490
—
2016
$8,905
2%
$180,490
—
2015
$8,740
4%
$180,490
—
2014
$8,379
—
$180,490
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1132 W Main St
1132 W Main Street, Norristown, PA 19401 (MLS# PAMC2103014) is a Business property. 1132 W Main Street is currently listed for $945,000 and was received on May 01, 2024. This property is listed by Michael Marchese from our Blue Bell Office.Want to learn more about 1132 W Main Street? Do you have questions about finding other Business real estate for sale in Norristown? You can browse all Norristown real estate or contact a Coldwell Banker agent to request more information.