604 S State Street, Clarks Summit, PA 18411 (MLS# 19-3511)
604 S State Street, Clarks Summit, PA 18411
$359,000
Property Type:
Commercial Sale
Square Footage:
2,730
Lot Size (sq. ft.):
11,326
Status:
Closed
Current Price:
$359,000
List Date:
2/03/2020
Last Modified:
9/14/2024
Description
Completely occupied and cash flowing. 6.6% Cap rate. Great investment opportunity in the heart of Clarks-Summit with high visibility and an average daily traffic count of 20,000/day according to PennDot.
First floor tenant is a family member and would move or reduce space to accommodate future buyer.
Building designed with an open floor concept. All interior walls are partition for easy tenant build-out. Freshly painted exterior new roof installed in 2018 new wood siding installed in 2018 on two sides of the building.
Owner will carry note.
NOI = $25,815, Tax Information: Available, Ceiling Height: 9' to 12'- Y, Overhead Door Height: 9' to 12'- Y
More Information MLS# 19-3511
Contract Information
Current Price: $359,000
Sold Price: $359,000
Status: Closed
Listing Contract Date: 2019-07-23
Property Attached YN: No
Listing Agreement: Exclusive Right To Sell
Owner Name: Anne R Swientisky
Environmental Survey YN: No
Location Tax and Legal
Street Number: 604
Street Direction Prefix: S
Street Name: State
Street Suffix: Street
State: PA
Postal Code: 18411
County: Lackawanna
General Property Information
Building Area Total: 2730
Building Area Total (Report Only): 2730
Enhanced Accessible: No
Year Built: 1980
Building Name: N/A
Parking Total: 15
Lot Size Acres: 0.26
Lot Size Dimensions: 190X124X180
Land Lease YN: No
Waterfront YN: No
Basement YN: No
Stories: 2
Auction YN: No
List Price/SqFt: 142.49
Sold Price/SqFt: 131.5
Remarks and Miscellaneous
Public Remarks: Completely occupied and cash flowing. 6.6% Cap rate. Great investment opportunity in the heart of Clarks-Summit with high visibility and an average daily traffic count of 20,000/day according to PennDot.
First floor tenant is a family member and would move or reduce space to accommodate future buyer.
Building designed with an open floor concept. All interior walls are partition for easy tenant build-out. Freshly painted exterior new roof installed in 2018 new wood siding installed in 2018 on two sides of the building.
Owner will carry note.
NOI = $25,815, Tax Information: Available, Ceiling Height: 9' to 12'- Y, Overhead Door Height: 9' to 12'- Y
Exclusions: Furniture and fixtures
Status Change Information
Major Change Timestamp: 2020-06-30T16:32:52Z
Major Change Type: Status Change
Status Change Timestamp: 2020-06-30
Purchase Contract Date: 2020-02-14
Close Date: 2020-06-29
Close Price: 359000
Building Features
Included In Contract: Building Only
Office SqFt: 2730
Income and Expenses
Annual Total Expense: 13628
Fire Insurance Expense: 2200
Gross Income: 39443
New Taxes Expense: 6160
Other Expense: 2772
Water Expense: 2496
Road Frontage Type
Road Frontage Length: 370
Property Features
Building Features: High Traffic Area; Prime Location; Public Restrooms
Construction Materials: Wood Siding
Cooling: Central Air
Current Use: Office
Electric: 200+ Amp Service
Flooring: Carpet; Vinyl; Wood
Heating: Baseboard; Electric; Forced Air
Levels: One and One Half
Listing Terms: Cash; Conventional
Lot Features: Corner Lot; Level; Near Central Business District; Near General Business
Parking Features: Asphalt; Paved
Possession: Negotiable
Road Frontage Type: State Road
Roof: Composition; Wood
Sewer: Public Sewer
Water Source: Public
Showing Requirements: Call Listing Agent
Listing Office: Christian Saunders Real Estate
Last Updated: September - 14 - 2024
Information deemed reliable but not guaranteed.