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120 N MAIN ST, TELFORD, 18969

$600,000

  • 4,224 sqft
  • Commercial
120 N MAIN ST, TELFORD, PA for sale.
120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
                                  120 N MAIN ST, TELFORD, PA for sale.
Courtesy of Keller Williams Real Estate-Montgomeryville
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.
Last updated on 11/16/2018
Courtesy of Keller Williams Real Estate-Montgomeryville

More Details for 120 N MAIN ST

Property Class: Commercial
Listing Status: Active
City: TELFORD
State: PA
Zip: 18969
Area: Telford Boro - 10622
Subarea:NONE AVAILABLE
County: MONTGOMERY-PA
Class: Commercial
Approx Lot Size: 0.310
Living Area (SqFt): 4,224 sqft
Lot Area Acre: 0.31
Property Age: 133
Listing#: 7279406
School District: Souderton
Tax Year: 2018
Taxes/Yr: $8,913 /2018

Features for 120 N MAIN ST

Building Or Business: Commercial, Apartmnt Bld, Restaurant
Fuel On Site: Gas, Electric, Oil
Location: Suburban, Corner Lot/Unit
Topography: Level
Water: Public
Exterior: Vinyl Siding, Brick
Floor: CarpetFlr, Vinyl, Laminate
Parking: 11to25CarGar, LotPark
Sewer Septic: Public Sewer
Exterior Amenities: PubTrans, Sign
Hot Water: Oil
Roads: Boro/Township, State
Utilities: WaterAvail, SewerAvail, GasAvail, ElectrcAvail, PhoneUtil, CableTVAvail, AbovGrndUtil

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Data relating to real estate for sale on this website appears in part through the TREND IDX program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which BHHS Fox & Roach participates, and is provided by TREND through a licensing agreement. Real estate listings held by brokerage firms other than BHHS Fox & Roach are marked with the IDX/IDX PLUS icon & detailed information about each listing includes the name of the listing broker. The information provided by this website is for the personal, non-commercial use of consumers & may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. © 2016 TREND, all rights reserved. Information deemed reliable, but not guaranteed.
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