Five-Unit Mixed-Use
1132 W Main St Norristown, PA 19401
New
For Sale
$1,500,000
Five licensed rental units above a first-floor convenience store and commercial space occupied by El Gordo Bros.
Property Size5,685 SF
Price / SF$263.85
Days on Market6
Property Features for 1132 W Main St
General Information
Standard status
Active
Size
5,685 SF
Listing Agency:
Coldwell Banker Realty
(610) 476-4651
Listed By:
Michael Marchese · License #RS306072
(610) 476-4651
Source:
Exprealty
Added: Jul 24
Changed: Jul 29
Last Checked: Jul 29 at 10:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This mixed-use building totals 5,685 square feet and includes five licensed residential rental units plus first-floor convenience retail and commercial space occupied by El Gordo Bros. The restaurant concept on the ground level is described as a well-established local business, and the restaurant and convenience store together occupy the entire first floor.
The second floor features three residential units: one two-bedroom apartment with a private outdoor deck and separately metered utilities (including heat and hot water), along with two efficiency units with separate electric meters. The third floor adds two additional licensed boarding-room units, all in good condition. All residential units and the restaurant are properly licensed, and the building will meet Municipality of Norristown requirements, including the latest fire-egress safety standards.
The property is located at 1132 W Main St in Norristown, positioned at the western end of Norristown just below the West Norriton Township line, with nearby national retailers and franchises including Chase Bank, Dunkin’, McDonald’s, Domino’s, Royal Farms, and Aaron’s.
The second floor features three residential units: one two-bedroom apartment with a private outdoor deck and separately metered utilities (including heat and hot water), along with two efficiency units with separate electric meters. The third floor adds two additional licensed boarding-room units, all in good condition. All residential units and the restaurant are properly licensed, and the building will meet Municipality of Norristown requirements, including the latest fire-egress safety standards.
The property is located at 1132 W Main St in Norristown, positioned at the western end of Norristown just below the West Norriton Township line, with nearby national retailers and franchises including Chase Bank, Dunkin’, McDonald’s, Domino’s, Royal Farms, and Aaron’s.
Key Highlights
- 5,685‑square‑foot mixed‑use building with five licensed residential rental units plus first‑floor convenience retail and commercial space
- First floor occupies the entire ground level with a convenience store and commercial space occupied by El Gordo Bros
- Second floor: three units—two‑bedroom with private outdoor deck and separately metered heat/hot water, plus two efficiency units with separate electric meters
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $148.7k | $26.16 |
| − Vacancy | −$9.1k | −$1.60 |
| EGI | $139.6k | $24.56 |
| − OpEx | −$62.8k | −$11.05 |
| NOI | $76.8k | $13.51 |
5,685 SF · lease $26.16/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Specialty Retail
$3.27M
$2.86M – $3.82M
NOI $228,905 @ 7.0% cap · market cap 15.26%
Second Best
Apartment 5plus
$1.10M
$960.1K – $1.28M
NOI $76,806 @ 7.0% cap · market cap 5.12%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Five licensed rental units above a first-floor convenience store and commercial space occupied by El Gordo Bros.
Where is this mixed-use property located?
The property is located at 1132 W Main St Norristown, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 5,685‑square‑foot mixed‑use building with five licensed residential rental units plus first‑floor convenience retail and commercial space; First floor occupies the entire ground level with a convenience store and commercial space occupied by El Gordo Bros; Second floor: three units—two‑bedroom with private outdoor deck and separately metered heat/hot water, plus two efficiency units with separate electric meters
