PA > Norristown
Norristown, PA 19401,118-120 E MAIN ST
Norristown, PA 19401,118-120 E MAIN ST
Norristown, PA 19401,118-120 E MAIN ST
Norristown, PA 19401,118-120 E MAIN ST
Norristown, PA 19401,118-120 E MAIN ST
Norristown, PA 19401,118-120 E MAIN ST
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Sat
12
Apr
Sun
13
Apr
Mon
14
Apr
Eunice Rancy

Eunice Rancy

+1(703) 223-9415
$ 2,890,000
Est. payment | /mo

19,000 SqFt

Save
$ 2,890,000
Est. payment | /mo
Save

19,000 SqFt

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 19,000 sqft

Price per Sqft $152

MLS Listing ID PAMC2133248

Originating Board BRIGHT

Year Built 1965

Annual Tax Amount $9,186

Tax Year 2024

Lot Size 5,233 Sqft

Acres 0.12

Property Sub-Type Five Or More Units

Property Description

18-120 E. Main Street presents a standout investment opportunity with a 7.83% cap rate and significant growth potential in a revitalizing market—this fully renovated, mixed-use property, spanning approximately 19,000 SF, underwent a 2022-2023 gut rehab and features 17 residential units (16 efficiencies and one 1-bedroom) with modern kitchens, stainless appliances, hardwood floors, split-unit HVAC, high ceilings, and large windows, complemented by a common area with a full kitchen and bathroom plus an income-generating laundry facility, while the 9,300 SF “El Jefe” Mexican restaurant, secured by a long-term NNN lease through 2032, includes a highly valuable liquor license at no additional cost, enhancing its appeal with a full basement kitchen, expansive dining/lounge areas with pool tables and entertainment platforms, an outdoor courtyard, and an untapped rooftop deck, generating $331,246 in annual income ($240,714 residential, $90,532 commercial) and a $204,537 NOI after expenses. The property sits just minutes from I-476 and the Norristown Transportation Center amidst $531M+ in nearby redevelopment including the $400M Montgomery County Justice Center, $100M Lafayette Street Extension, and $31M MM Partners project—don't miss out, act now to secure this cash-flowing asset with liquor license included!

Location

State PA

County Montgomery

Area Norristown Boro (10613)

Zoning COMMERCIAL

Interior

Hot Water Electric

Heating Central

Cooling Central A/C

Flooring Hardwood, Heavy Duty, Laminate Plank, Tile/Brick

Heat Source Electric

Exterior

Water Access N

Roof Type Asphalt,Flat,Rubber

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Norristown Area

Others

Tax ID 13-00-21348-005

Ownership Fee Simple

SqFt Source Estimated

Acceptable Financing Cash, Conventional, Other

Listing Terms Cash, Conventional, Other

Financing Cash,Conventional,Other

Special Listing Condition Standard

Bright MLS (BMLS)
Listed by Stephen B Ammon • Iron Valley Real Estate Doylestown
agent-avatar

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(703) 223-9415

eunice@amaryllishomes.com

95 Dunn Drive Ste 200, Stafford, VA, 22556, USA

GET MORE INFORMATION

Name
Phone*
Message
I agree by electronic signature to the Electronic Disclosure Consent; to receive recurring marketing communication from or on behalf of Eunice Rancy, including auto-dialed calls, texts, and artificial/prerecorded voice messages (consent not required to make a purchase; data rates may apply; reply “STOP” to opt-out of texts or ‘HELP” for help); and to the Terms of Service and Privacy Policy of this website. I understand that I can call to obtain direct assistance.

Go tour this home

118-120 E MAIN ST