150 Water St Milford, PA 18337
- Retail properties
- 3,000 SF
Current Use by Public Records
- Waterwheel Café, Bakery & Bar / Restaurant / Bakery
- Country Dawn at 1882 Country Store / Antique Store / Gift Shop
- The Annex at Earthly Treasures / Variety Store
- 84 Country Store / Gift Shop
- Paradise Nutrition / Health And Beauty Shop
Property Details for 150 Water St
- Year built
- 1820
- Property size
- 3,000 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional opportunity presents the acquisition of the Waterwheel Cafe & Bakery, a thriving restaurant located at 150 Water St, Milford, PA 18337. Established in 1989, this landmark business operates within a beautifully restored 19th-century water-powered mill, listed on the National Register of Historic Places. The 3,000 square foot, two-story building, constructed in 1820 and renovated in 2010, boasts a unique ambiance, showcasing the original water wheel. The property includes 50 parking spaces and is zoned for commercial use. Currently operating as a multi-tenant property with four tenants, the lease is a gross lease with a credit-rated tenant. The asking price is $600,000 with a current NOI of $300,000. The lease term is 1.3 years, commencing November 30, 2023, and expiring March 31, 2025, with a renewable 5-year option. Rent increases are tied to the CPI. The business offers a full-scale restaurant, bakery, and bar, serving breakfast, lunch, and dinner (Thursday-Saturday). Situated on a heavily traveled road with a major intersection nearby, this property benefits from high visibility and ample parking. Strong financials are available upon request to qualified buyers. This is a rare chance to own a piece of Milford's history and a successful, established business.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Milford
- County
- Pike
- State
- Pennsylvania
- Longitude
- -74.8098
- Latitude
- 41.3239
