Your Key to the Main Line, Philadelphia, and its Surrounding Suburbs
MLS#PADA2064746
STATUSACTIVE
PROPERTY TYPECommercial -
SUBDIVISIONPAXTANG BOROUGH
SCHOOLCENTRAL DAUPHIN
Property Description
3429 Derry Street is a Tenant Occupied investment opportunity with over Three (3) Years remaining on the initial Five (5) Year Lease. The Lease is structured as a modified gross where Tenant is responsible for all direct utilities, interior maintenance and exterior upkeep. Owner is reimbursed for water and sewer by Tenant. The Lease currently generates $30,900.00 in annual rent, escalating by 3.00% per year. Operating expenses reported of $6,273.72, creating an in-place NOI of $25,000.00 and a resulting CAP rate of 10.32%. This return rate and Lease structure creates a tremendous investment opportunity regardless of your funding source. Further, notable capital expenditures of roof, electric water heater, natural gas forced air and electric panels were installed in 2018. The Downtown District Zoning of Paxtang Borough generously provides for a multitude of commercial and residential type uses for future value-add opportunities. See marketing brochure for the in-place operating finances of the property.
Property Features
Property Type: Commercial -
Basement: Yes
Cooling: Central A/C
Fuel Type: Natural Gas
Heating: 90% Forced Air
Lot Size: 0.04 Acres
Roof Type: Asphalt
Taxes: $2,433
Year Built: 1920
Feature Descriptions
Days on Site: 3
Electric: Circuit Breakers
Exterior: Brick, Masonry, Frame
Flooring: Solid Hardwood
Location: Downtown
Lot Dimensions: 0.04 Acre(S)
Municipality: PAXTANG BORO
Parking Notes: Private
Sewer: Public Sewer
Total Garage/Parking Spaces: 2
Units: 1
Utilities: Electric Available, Natural Gas Available, Sewer Available, Water Available
Water: Public
Local Schools
High School: CENTRAL DAUPHIN EAST
School District: CENTRAL DAUPHIN
Listed By / Shown By
Listed By
Agency Name: U.S. Commercial Realty
Agency Phone: 7177356000
Shown By
Agency Title: Duffy Real Estate, Inc.
Agency Phone: 610-667-6655
3429 Derry Street | MLS# PADA2064746
This commercial property located at 3429 Derry Street , Harrisburg, PA 17111 is currently listed for sale with an asking price of $245,000. Derry Street is located within the CENTRAL DAUPHIN school district. Search Harrisburg real estate on www.duffyrealestate.com today.