218 Delaware Avenue, Palmerton, PA 18071
$612,500
Property Type:
Commercial Sale
Square Footage:
8,726
Lot Size (sq. ft.):
15,682
Status:
Closed
Current Price:
$612,500
List Date:
10/26/2020
Last Modified:
5/09/2025
Description
10.63% CAP. 11-unit, mixed-use property with St. Luke's Physician Group as anchor tenant. Additional rentals include a 2-bedroom apartment and 9 garage rentals. SLPG occupies 70% of the 6,134 square foot building and has approximately 3.8 years remaining on the initial term with (2) 3-year renewal options. Tenant is responsible for CAM charges and lease has rental increases every 2 years. The additional 2,592 square foot garage building consist of 9 rental units.
More Information MLS# PM-82544
Contract Information
Listing Service: Full Service
Lease Considered YN: No
Property Sub Type: Business
Sold Price: $612,500
Current Price: $612,500
Status: Closed
Listing Contract Date: 2020-10-26
Location, Tax, and Legal
Parcel Number: 42A-48-K5
Municipality: Palmerton Borough
High School District: Palmerton Area
Cnty&Muni Taxes (Legacy): 0
School Tax Amount: 0
Tax Annual Amount: 9800.37
Tax Assessed Value: 119810
Tax Book Number: 1953/867
Zoning Description: Commercial
General Property Information
Above Grade Finished Area: 8726
Building Area Source: Public Records
Stories: 2
Number Of Buildings: 2
Year Built Source: Other
Lot Size Acres: 0.36
Sign On Property YN: No
List Price/SqFt: 74.38
Sold Price/SqFt: 70.19
Building Area Total: 8726
Year Built: 1907
Remarks and Miscellaneous
Public Historical Remarks: Warranty: None, Truck: Drive-in, Roof: Ridged, Level: Grade,Multi, Location: FreeStnd, Exterior Amenities: Sign, #Doors: 6-10Grade, Ceiling: 0-9FT,10-12FT, Miscellaneous: Zoning Code CD
Public Remarks: 10.63% CAP. 11-unit, mixed-use property with St. Luke's Physician Group as anchor tenant. Additional rentals include a 2-bedroom apartment and 9 garage rentals. SLPG occupies 70% of the 6,134 square foot building and has approximately 3.8 years remaining on the initial term with (2) 3-year renewal options. Tenant is responsible for CAM charges and lease has rental increases every 2 years. The additional 2,592 square foot garage building consist of 9 rental units.
Unit Details
Number Of Units Leased: 11
Business Type
Professional Service: 1
Professional/Office: 1
Storage: 1
Income and Expenses
Cap Rate: 9.34
Listing Terms
Cash: 1
Conventional: 1
Existing Lease Type
NNN: 1
Gross: 1
Disclosures
Right of First Refusal: 1
Possession
Close Of Escrow: 1
Current Use
Residential: 1
Commercial: 1
Office: 1
Possible Use
Residential: 1
Investment: 1
Medical/Dental: 1
Multi-Family: 1
Building Features
Ceiling Height: 9
Number of Dock Doors: 10
Other: 1
Rail Road Track
None: 1
Construction Materials
Frame: 1
Roof
Other: 1
Cooling
Central Air: 1
Heating
Electric: 1
Water Source
Public: 1
Sewer
Public Sewer: 1
Parking Features
On Site: 1
Road Frontage Type
City Street: 1
Road Surface Type
Paved: 1
Asphalt: 1
Road Responsibility
Public Maintained Road: 1
Location Tax and Legal
County: Carbon
Street Number: 218
Street Name: Delaware
Street Suffix: Avenue
City (Post Office): Palmerton
State: PA
Postal Code: 18071
Status Change Information
Price Change Timestamp: 2020-12-12T16:47:05Z
Purchase Contract Date: 2021-03-01
Close Date: 2021-05-07
Close Price: 612500
Property Features
Listing Terms: Cash; Conventional
Existing Lease Type: NNN; Gross
Disclosures: Right of First Refusal
Possession: Close Of Escrow
Current Use: Commercial; Residential; Office
Possible Use: Residential; Investment; Medical/Dental; Multi-Family
Business Type: Professional Service; Professional/Office; Storage
Building Features: Other
Rail Road Track: None
Construction Materials: Frame
Roof: Other
Cooling: Central Air
Heating: Electric
Water Source: Public
Sewer: Public Sewer
Parking Features: On Site
Road Frontage Type: City Street
Road Surface Type: Paved; Asphalt
Road Responsibility: Public Maintained Road
Listing Office:
KW Commercial - Main St
Last Updated: May - 09 - 2025
Information deemed reliable but not guaranteed.
