Manheim, PA 17545,31 S MAIN ST
Manheim, PA 17545,31 S MAIN ST
Manheim, PA 17545,31 S MAIN ST
$920,000
Est. payment /mo
$1,050,000
12.4%
Est.Price: ?

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14,276 SqFt
SOLD DATE : 09/13/2024

Key Details

Sold Price $920,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Square Footage 14,276 sqft

Price per Sqft $64

Subdivision Manheim

MLS Listing ID PALA2049778

Sold Date 09/13/24

Originating Board BRIGHT

Year Built 1876

Annual Tax Amount $18,570

Tax Year 2024

Lot Size 0.330 Acres

Acres 0.33

Lot Dimensions 59' x 264'

Property Description

Amazing investment opportunity in the heart of Manheim! Ability to rent out 28 to 30 units with 10-11% Cap Rate (including fix up cost & debt service).....Formally known as the Summy House, this historic property is comprised of two separate buildings on one parcel. The front building along Rt. 72 features 1 apartment in the basement, 3 commercial spaces on the 1st floor (formally the Sink Restaurant & Bar) and 2 office/studio spaces, the 2nd and 3rd floor was used as a residential boarding house with 19 bedrooms, 3 bathrooms, and 2 kitchens. In addition, a separate apartment built on rear of main building and an additional fully occupied 5-unit apartment building that sits along Wolf St. This is 1 of 2 boarding houses that owners have in Manheim. (See pro-forma of Washington House currently filled) These buildings have been cash cows for them with waiting lists to fill any vacancies. Main building is currently condemned from a fire and needs repaired before renting again to all units. Structural fire damage is contained to 2-3 bedrooms and some smoke damage throughout other parts of 1st and 2nd floor. The 1st floor and 3rd floor was virtually unaffected except for smoke smell. Rear parking lot has 15 parking spaces, with 2 additional spaces in front of the 5-unit building, for a total of 17 spaces. See supporting docs for repair costs, financial analysis, building layouts.....this will not last long, schedule your showing today!

Location

State PA

County Lancaster

Area Manheim Boro (10540)

Zoning CENTRAL BUS

Interior

Hot Water Natural Gas

Heating Hot Water & Baseboard - Electric

Cooling Window Unit(s)

Flooring Hardwood, Vinyl

Heat Source Natural Gas, Electric

Exterior

Garage Spaces 17.0

Utilities Available Electric Available, Natural Gas Available, Sewer Available, Water Available

Waterfront N

Water Access N

Roof Type Rubber

Accessibility None

Total Parking Spaces 17

Garage N

Building

Lot Description Level, Road Frontage

Foundation Stone, Brick/Mortar, Concrete Perimeter

Sewer Public Sewer

Water Public

New Construction N

Schools

Middle Schools Manheim Central

High Schools Manheim Central

School District Manheim Central

Others

Tax ID 400-48566-0-0000

Ownership Fee Simple

SqFt Source Assessor

Security Features Smoke Detector

Acceptable Financing Conventional, Cash, Bank Portfolio, FHA 203(k)

Listing Terms Conventional, Cash, Bank Portfolio, FHA 203(k)

Financing Conventional,Cash,Bank Portfolio,FHA 203(k)

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by David A Wissler • Coldwell Banker Realty
Bought with Christopher J Good • Keller Williams Elite

Don Perrin

Agent | License ID: 0225222228

+1(703) 819-4655

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