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23 Sherman St 13,215 SF 100% Leased Retail Building Coal Township, PA 17866 $1,500,000 ($113.51/SF)
Executive Summary
Note from the Owners: The Springfield is open and there are no plans to shut down. We are still having events, booking for future events, remodeling, updating, and improving - it’s all business as usual.
Entrepreneurs take note of this acclaimed banquet hall. A turnkey business, this venue has been a landmark for over 100 years, hosting grand events from the 1930s through today. The Springfield Banquet Hall, fully remodeled in 2017, offers 4,000 sq. ft. of elegant event space accommodating up to 270 guests. Featuring an updated kitchen - equipment included, ensuring seamless operations for any occasion. If you don't want to do catered events, you can convert the space into a restaurant. The basement of the hall, covering the same large footprint, is currently used as storage. In the past, it has been used as a garage for car repairs and has potential as ATV storage and repair.
The adjacent building contains four apartments (3br 1ba, 3br 1ba, 3br 1.5ba, 5br 1.5ba). One has a long term renter, and a second will soon be ready to rent as a B&B. The final two apartments need full remodels. If you convert all of these to B&Bs, you can have 14 rooms available for banquet hall guests, or for visitors to the local ATV and amusement parks. The main level of this building (below the apartments) needs remodeling, but had a corner bar (the tin ceilings are still there) and a "lower hall" area. It was used as a grocery store in the past, and then as a second banquet hall - they had funerals and smaller events there, with weddings in the main hall. There's a lot of potential for future businesses!
A parking lot was recently constructed half a block away. It has 43 spaces, plus lighting and 8 security cameras. When not used for banquet hall events, B&B guests who are in town for the ATV park can use it to store their trailers. The Township-approved ATV route runs along Tioga Street, two blocks away, to the entrance portal for the ATV park. Guests can park their trailers in the lot, and ride to and from the ATV park without having to haul their trailers to the main entrance - a great draw for the B&Bs! This listing also includes an empty lot at 1600 Pulaski Ave., which was purchased with the intention of building a second parking lot.
For a glimpse into its rich history visit www.TheSpringfield.com.
Check out the 3D tour
https://discover.matterport.com/space/U1XEbNeJNcp
48 hr notice for showings. Call/Text Rich at 570-274-2566
Entrepreneurs take note of this acclaimed banquet hall. A turnkey business, this venue has been a landmark for over 100 years, hosting grand events from the 1930s through today. The Springfield Banquet Hall, fully remodeled in 2017, offers 4,000 sq. ft. of elegant event space accommodating up to 270 guests. Featuring an updated kitchen - equipment included, ensuring seamless operations for any occasion. If you don't want to do catered events, you can convert the space into a restaurant. The basement of the hall, covering the same large footprint, is currently used as storage. In the past, it has been used as a garage for car repairs and has potential as ATV storage and repair.
The adjacent building contains four apartments (3br 1ba, 3br 1ba, 3br 1.5ba, 5br 1.5ba). One has a long term renter, and a second will soon be ready to rent as a B&B. The final two apartments need full remodels. If you convert all of these to B&Bs, you can have 14 rooms available for banquet hall guests, or for visitors to the local ATV and amusement parks. The main level of this building (below the apartments) needs remodeling, but had a corner bar (the tin ceilings are still there) and a "lower hall" area. It was used as a grocery store in the past, and then as a second banquet hall - they had funerals and smaller events there, with weddings in the main hall. There's a lot of potential for future businesses!
A parking lot was recently constructed half a block away. It has 43 spaces, plus lighting and 8 security cameras. When not used for banquet hall events, B&B guests who are in town for the ATV park can use it to store their trailers. The Township-approved ATV route runs along Tioga Street, two blocks away, to the entrance portal for the ATV park. Guests can park their trailers in the lot, and ride to and from the ATV park without having to haul their trailers to the main entrance - a great draw for the B&Bs! This listing also includes an empty lot at 1600 Pulaski Ave., which was purchased with the intention of building a second parking lot.
For a glimpse into its rich history visit www.TheSpringfield.com.
Check out the 3D tour
https://discover.matterport.com/space/U1XEbNeJNcp
48 hr notice for showings. Call/Text Rich at 570-274-2566
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Building Size
13,215 SF
Building Class
C
Year Built
1950
Price
$1,500,000
Price Per SF
$113.51
Percent Leased
100%
Building Height
3 Stories
Building FAR
1.22
Lot Size
0.25 AC
Zoning
R - Residential
Property Taxes
| Parcel Number | 00F-01-00F-248 | Improvements Assessment | $27,100 |
| Land Assessment | $1,100 | Total Assessment | $28,200 |
Property Taxes
Parcel Number
00F-01-00F-248
Land Assessment
$1,100
Improvements Assessment
$27,100
Total Assessment
$28,200
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23 Sherman St
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