16 S. State St, Newtown, PA

Multi-Use for Sale - $1,249,000 - 4,600 Sq. Ft. on 0.16 acres


Agent Info

Michael Riccardi
M. Riccardi Agency

Property Info

CIMLS#14092
Location
  16 S. State St
  Newtown PA 18940
UpdatedDecember 7th, 2019
TypeMulti-Use
Price$1,249,000
Building4,600 Sq. Ft.
Land0.16 acres

Contact


Property Description

Perfect investment/business combination in this beautiful building in Historic Newtown. A total of 4600 sq.ft. in upgraded and improved Historic building in the heart of Historic Newtown Borough's prime business district. Fully improved and upgraded. No deferred maintenance. Lots of historic character and charm. . Many, many upgrades including new 50 yr. synthetic slate roof and EP Henry sidewalk, 4 HVAC units, high efficiency windows, remodeled powder rms., etc. Considered the best retail/professional/commercial business location in town. All leases have escalation clauses and annual income will increase each year accordingly. Great user/investor combination to have your business in the building while your tenants pay your mortgage. Currently 100% occupied, but can occupy some office space in 60 days and/or retail space June 2020..

The most premiere location in the heart of Historic Newtown's business and Historic district. The most traffic flow with main walkway from municipal parking lot to main shopping area on both sides of the property. Very close to I-95, Route #1, and turnpike with simple commute. Leases expire at different intervals with very low turnover of tenants due to the location and owner's maintenance of buildings. Each floor of each buiding has separate heat and central air conditioning ( 4 systems and thermostats) and electric meters. Varied tenant mix of retail, commercial, professional uses.



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