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409 N Jefferson St 2,470 SF 100% Leased Office Building New Castle, PA 16101 $499,000 ($202.02/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- High Traffic Area with Nearly 13,000 Vehicles Daily
- Immaculately Adorned Fixtures, Natural Light and Detailed Rooms
- 5-yr old Roof, Utilities are separate
- Ample Parking, 10+ Comfortably Sized Spaces, Perfect for Come-and-go
- Already Income-Producing, Seller is a Long-term Professional Tenant
EXECUTIVE SUMMARY
I wanted to highlight that this is a mixed-use property, which makes it a unique investment opportunity. The main floor houses a hair salon, and the salon owner, who also owns the building, is happy to stay on as a tenant. This means the new buyer would immediately have a steady rental income from the salon.
On the second floor, there are two residential units: one is a three-bedroom, one-bath unit that could potentially bring in $1,000 to $1,200 per month, and the other is a one-bedroom, one-bath unit that could generate around $700 to $800 monthly.
Additionally, the property includes a spacious parking lot, which adds convenience and value for both the salon and residential tenants. This combination of commercial and residential rental income makes it a really attractive investment. The owner could be open to a sale leaseback deal as the salon is their business.
On the second floor, there are two residential units: one is a three-bedroom, one-bath unit that could potentially bring in $1,000 to $1,200 per month, and the other is a one-bedroom, one-bath unit that could generate around $700 to $800 monthly.
Additionally, the property includes a spacious parking lot, which adds convenience and value for both the salon and residential tenants. This combination of commercial and residential rental income makes it a really attractive investment. The owner could be open to a sale leaseback deal as the salon is their business.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Sale Leaseback
Property Type
Office
Property Subtype
Building Size
2,470 SF
Building Class
C
Year Built
1911
Price
$499,000
Price Per SF
$202.02
Cap Rate
7%
NOI
$34,930
Percent Leased
100%
Building Height
3 Stories
Typical Floor Size
1,087 SF
Building FAR
0.32
Lot Size
0.18 AC
Opportunity Zone
Yes
Zoning
C1 - Zoned C-1: allows retail, offices, restaurants, personal services, dwellings & more. Conditional for apartments, bars, car wash, gas, etc.
Parking
26 Spaces (10 Spaces per 1,000 SF Leased)
1 1
Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 01-058400 | Improvements Assessment | $60,000 |
| Land Assessment | $20,000 | Total Assessment | $80,000 |
PROPERTY TAXES
Parcel Number
01-058400
Land Assessment
$20,000
Improvements Assessment
$60,000
Total Assessment
$80,000
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Compass Pennsylvania, LLC
409 N Jefferson St
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