1182 Pocono Boulevard, Mount Pocono, PA 18344
$542,500
Property Type:
Commercial Sale
Square Footage:
4,494
Lot Size (sq. ft.):
73,181
Status:
Closed
Current Price:
$542,500
List Date:
5/27/2022
Last Modified:
2/28/2025
Description
Good upside potential - 5 Unit Mixed Use Investment. Buildings consist of a single residence, 2 commercial units and (2) 2 bedroom apartments. Asset presently generating annual rents of $54,600 plus an available 2 bedroom 1 bath home occupied by the owner with a market rent value of $1,600/mo. Combined the annual revenue would approximate $73,800. Additional cash flow improvement through below market rents & building expansions on a flat cleared corner site. Property well maintained and the commercial building was completely rebuilt in 2003. Serviced by central sewer and on-site water with plenty of on-site parking. Priced at an attractive 7.5+% cap rate with rather immediate future upside.
More Information MLS# PM-97514
Contract Information
Listing Service: Full Service
Lease Considered YN: No
Property Sub Type: Business
Sold Price: $542,500
Current Price: $542,500
Status: Closed
Listing Contract Date: 2022-05-27
Location, Tax, and Legal
Parcel Number: 10.6.1.2
Municipality: Mount Pocono Borough
High School District: Pocono Mountain
Cnty&Muni Taxes (Legacy): 4729.81
School Tax Amount: 10783.93
Tax Annual Amount: 15513.75
Tax Assessed Value: 541770
Tax Book Number: 1315/18
Zoning Description: Commercial
General Property Information
Above Grade Finished Area: 4494
Building Area Source: Public Records
Stories: 2
Year Built Source: Other
Lot Size Acres: 1.68
List Price/SqFt: 133.51
Sold Price/SqFt: 120.72
Building Area Total: 4494
Year Built: 1947
Remarks and Miscellaneous
Public Historical Remarks: Location: FreeStnd, Miscellaneous: Zoning Code C-2- Commercial
Public Remarks: Good upside potential - 5 Unit Mixed Use Investment. Buildings consist of a single residence, 2 commercial units and (2) 2 bedroom apartments. Asset presently generating annual rents of $54,600 plus an available 2 bedroom 1 bath home occupied by the owner with a market rent value of $1,600/mo. Combined the annual revenue would approximate $73,800. Additional cash flow improvement through below market rents & building expansions on a flat cleared corner site. Property well maintained and the commercial building was completely rebuilt in 2003. Serviced by central sewer and on-site water with plenty of on-site parking. Priced at an attractive 7.5+% cap rate with rather immediate future upside.
Business Type
Professional Service: 1
Listing Terms
Cash: 1
Conventional: 1
Possession
Close Of Escrow: 1
Current Use
Residential: 1
Commercial: 1
Possible Use
Retail: 1
Multi-Family: 1
Building Features
Other: 1
Cooling
Wall/Window Unit(s): 1
Heating
Electric: 1
Water Source
Well: 1
Sewer
Public Sewer: 1
Parking Features
On Site: 1
Lot Features
Corner Lot: 1
Road Frontage Type
State Road: 1
Road Surface Type
Paved: 1
Asphalt: 1
Road Responsibility
Public Maintained Road: 1
Location Tax and Legal
County: Monroe
Street Number: 1182
Street Name: Pocono
Street Suffix: Boulevard
City (Post Office): Mount Pocono
State: PA
Postal Code: 18344
Status Change Information
Purchase Contract Date: 2022-09-16
Close Date: 2023-02-10
Close Price: 542500
Property Features
Listing Terms: Cash; Conventional
Possession: Close Of Escrow
Current Use: Commercial; Residential
Possible Use: Multi-Family; Retail
Business Type: Professional Service
Building Features: Other
Cooling: Wall/Window Unit(s)
Heating: Electric
Water Source: Well
Sewer: Public Sewer
Parking Features: On Site
Lot Features: Corner Lot
Road Frontage Type: State Road
Road Surface Type: Paved; Asphalt
Road Responsibility: Public Maintained Road
Listing Office:
TACM Commerical Realty Inc.
Last Updated: February - 28 - 2025
Information deemed reliable but not guaranteed.
