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650 Washington Ave Jermyn, PA 18433

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For Sale
$585,000

Turnkey Restaurant, 3 Apartments

Property size:
5,300 SF

Property Features for 650 Washington Ave

General Information

Property type
Mixed-use properties
Square Feet
5,300 SF
Lot Size
20,038 SF

Building Details

Year Built
1930

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Listing Contact
Michael Clark Iii

Listing Agency: Cobblestone Real Estate Llc Listing Agent: Michael Clark Iii

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional mixed-use property in Jermyn, PA, presents a rare opportunity for savvy investors and entrepreneurs. The 5,300 square foot building boasts a thriving, 50-year-old restaurant with seating for nearly 100 patrons. The restaurant is immediately profitable, having been meticulously maintained and updated by the same owner for the past 20 years. Recent improvements include a new forced hot air heating and air conditioning system, roof, windows, and siding, ensuring years of maintenance-free operation. All restaurant equipment, including coolers, freezers, and fountains, is included in the sale. A significant advantage is the current owner's willingness to assist with a smooth transition, offering their expertise as an employee or consultant. Adding to the investment potential, three fully rented apartments (two one-bedroom/one-bathroom and one two-bedroom/one-bathroom) are located above the restaurant, offering below-market rents and long-term tenants. The property also includes a spacious parking lot accommodating 35-40 vehicles, situated adjacent to the building. This 0.46-acre lot provides ample space for customers and residents. This turnkey operation offers immediate income streams from both the restaurant and rental units, making it an attractive and financially sound investment.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Mixed-use properties

Suggested Use

Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Jermyn
County
Lackawanna
State
Pennsylvania
Longitude
-75.5443
Latitude
41.53214

FAQs

What type of property is this?
Mixed-use property - Turnkey Restaurant, 3 Apartments
Where is this mixed-use property located?
The property is located at 650 Washington Ave Jermyn, PA.
What is the asking price?
The asking price for this property is $585,000.
More about this property
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