Mixed Use For Sale - 3429 DERRY ST, HARRISBURG, PA 17111

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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.

MLS# PADA2064746

U.S. Commercial Realty

Active For Sale Commercial

$245,000

Mixed Use

1920 Year built

5 days on market

Property Features

Roof

Asphalt

Type

CRE

Acres

0.04

Style

Other

Cooling

Central A/C

Heating

90% Forced Air

Sub Type

MixedUse

Flooring

Solid Hardwood

Year Built

1920

Foundation

Stone,Brick/Mortar

Sub Type Text

Mixed Use

Subdivision

PAXTANG BOROUGH

Construction

Brick,Masonry,Frame

Accessibility

None

Lot Size Area Units

Square Feet

Location

Directions: Located along Derry Street in Paxtang Borough. Short distance from 322 and 83.

Market Area: Paxtang Boro (14047)

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