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15 E Bridge St 4,727 SF 100% Leased Retail Building New Hope, PA 18938 $2,200,000 ($465.41/SF)

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EXECUTIVE SUMMARY

Perched at the grand entrance to New Hope from the iconic bridge from Lambertville, NJ, this fully leased, 6 unit investment property underwent a full scale renovation circa 2006 and features two street level retail stores and four apartments. With an excellent history of tenancy, this prime location has always drawn reliable commercial shops benefiting from some of the highest foot and vehicle exposure available in town. Located across the street from Starbucks and Dunkin' Donuts, approvals were previously granted for an expansion of 750 SF of the main level commercial space. Adjacent open-space (with sculpture) is owned by the DRJTBC and is fenced off from the public, providing plenty of buffer for the premium apartment views of the river.

PROPERTY FACTS Under Contract

Sale Type

Investment

Property Type

Retail

Property Subtype

Storefront Retail/Residential

Building Size

4,727 SF

Building Class

Year Built/Renovated

1830/2006

Price

$2,200,000

Price Per SF

$465.41

Percent Leased

100%

Tenancy

Multiple

Building Height

3 Stories

Building FAR

0.74

Lot Size

0.15 AC

Zoning

CC - community commercial is intended to accommodate all commercial needs of the community, surrounding rural areas, and visitors.

Waterfront

MAJOR TENANTS

Bath Junkie
Retailer
-
-
-

Blue Penguin
Retailer
-
-
Mar 2019

Bridge Street Soap
Manufacturing
-
-
Dec 2015

Accommodation and Food Services
-
-
-

Owners Linda and Jules Sghiatti thought New Hope was a great place to open a caramel corn store. As Bucks County natives, they have lived in New Hope for over 15 years, raising three children, and working in their own residential building business. When Linda wanted to get a part-time job, Jules encouraged her “to do her own thing.” After attending the Friday Night Fireworks on the Delaware River in New Hope one evening in 2010, they discussed that New Hope didn’t have any quick snack stops other than ice cream. They thought about how much they love the caramel corn from the boardwalk at the Jersey Shore and that’s how the idea came about. After a bit of research and planning, Jules got to work designing and building the shop. Linda and the kids went to work creating popcorn recipes. The whole family contributed to the process, including designing the logo and packaging. A year later, Clusters opened April, 2011.

TENANT	INDUSTRY	SF OCCUPIED	RENT/SF	LEASE END
Bath Junkie	Retailer	-	-	-
Blue Penguin	Retailer	-	-	Mar 2019
Bridge Street Soap	Manufacturing	-	-	Dec 2015
	Accommodation and Food Services	-	-	-