Eco Friendly
Address
120 N Main Street Telford, PA
Price
$ 600,000
Property Attributes
  • MLS#PAMC103888
  • TypePending
  • CountyMONTGOMERY
  • CityTelford
  • AreaTelford Boro
  • NeighborhoodNONE AVAILABLE
  • Zip18969
  • StyleApartment Building
  • Year Built1885
  • Taxes8913
  • Price$ 600,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage4224
  • Lot Size0.31 Acres
Listing Provided Courtesy Of:
Keller Williams Real Estate-Montgomeryville
Property Description

The Towne Restaurant is a landmark establishment that until its recent closure has operated continuously since 1966. There have been three to four owners during that time (depending on what local historian you believe) with virtually no downtime in the transitions between owners. The restaurant space has a total seating capacity of 73 including a counter area and two Dining Rooms. Extensive restaurant renovations (new LED lighting, ceiling tiles, Karadeen vinyl plank flooring, carpeting, paint, etc.) and exterior painting completed in 2014. This mixed use building consists of approximately 2,492 sq ft of commercial space on 1st level and 2 residential apartments on the second level. Total above grade space is estimated at 4,224 sq ft. The basement provides approximately 1,480 sq ft of storage & utility space. The entire rear portion of the property is a macadam parking lot with 9 spaces. Additional unpaved parking spaces are used with unwritten permission of the railroad company that owns approximately 8' of the gravel area. This arrangement has been in place for decades. The apartments have an excellent rental history. The 1 Bedroom apartment known as 124 North Main Street is gorgeous. Built in 2011 this unit includes high ceilings with fans, multiple energy-efficient windows, Living Room (17 x 16), Kitchen (11' x 10'), Bedroom (14 x 12), Bath (11' x 6"), and ample closet space. Rent is $800/mo. plus heat and electric (electric heat pump provides heat and central air; hot water is provided by Landlord). The 2 Bedroom apartment known as 122 North Main Street includes Living Room (18' x 11'), Kitchen (16' x 10') with Breakfast bar, Main Bedroom (12' x 11'), Bedroom 2 (12' x 10") and Bath. Rent is $750/mo. plus electric and gas for cooking (heat and hot water are included). Both apartments are on month-to-month leases. The income for the restaurant space is projected at $25/SF, or $60,000/year. Gross Annual Income for the apartments is $18,000, for total Projected Annual Income of $78,000. Annual Real Estate Taxes are $8,913 and annual Insurance expense for the building is estimated at $5,000. The restaurant space tenant is responsible for fuel oil, water, sewer, trash removal, and pest control. Owners will provide historical Profit and Loss Statements for the Towne Restaurant to qualified prospective purchasers. Restaurant equipment is included for an additional $28,000. List of equipment is available.

Price History
11/9/2018 Listed $600,000

General Features

Accessibility None
Business Type Apartment Building
Construction Materials Vinyl Siding, Brick
Cool Fuel Electric
Cooling Central A/C, Ductless/Mini-Split
County MONTGOMERY
Flooring Carpet, Vinyl, Laminated
Heating Hot Water, Forced Air
Location Type Suburban
MLS Area Telford Boro (10622)
New Construction No
Ownership Fee Simple
Parking Features Surface, Unassigned
Possession Immediate
Price Per Sq Ft 142.05
Property SubType Mixed Use
Property Type Commercial Sale
Real Estate Owned Y/N No
Sewer Public Sewer
Subdivision Name NONE AVAILABLE
Tax Year 2018
Vacation Rental Y/N No
Water Access Y/N No
Zoning C

Interior Features

Central Air Y/N Yes
Heating Fuel Electric, Oil
Heating Y/N Yes
Hot Water Oil
Utilities Water Available, Sewer Available, Natural Gas Available, Electric Available, Phone, Cable TV Available, Above Ground

Exterior Features

Building Area Total 4224.00
Exterior Amenities Public Transport Nearby, Sign
Fencing Y/n No
Lot Dimensions 59
Lot Size Acres 0.31
Lot Size Source Assessor
Lot Size Square Feet 13460.00
Navigable Water Y/N No
Roadresponsibility Boro/Township, State
Type of Parking Parking Lot
Water Oriented Y/N No
Water Source Public
Water View Y/N No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 18969

Price
AVG $370K
$600K
Taxes
AVG $6,318
$8,913
Visits
AVG 35
31
Year Built
AVG 1976
1885
Walkscore
AVG 27
61
Data Provided by Walkscore ® not using MLS data

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