555 2Nd Ave, Collegeville, PA 19426

Property Details for 555 2Nd Ave

Year built

1994

Lot size

0.14 lot acres

Property type

Office Spaces

Property subtype

Medical Office Space

Description

This Collegeville, PA office building (555 2nd Ave, D-6) offers a unique investment opportunity. The 6,000 square foot, two-story Class B building, built in 1994 and renovated in 2010, sits on a 0.14-acre lot and features 100 parking spaces. Currently 70% occupied with three tenants, the property boasts a Net Operating Income (NOI) of $51,345, with a pro-forma NOI of $100,381. The asking price is $1,250,000, representing a 4.11% cap rate and a pro-forma cap rate of 8.03%. The building is zoned for office condominiums and includes a mix of creative, medical, and traditional office spaces. Available space totals approximately 3,500 square feet, with potential for expansion. Additional space is available for lease in August 2023. The property benefits from a convenient location near Routes 422 and 29, with easy access to Oaks, Audubon/Trooper, Schwenksville, Phoenixville, and other nearby areas. Amenities include a private entrance, multiple exits, elevator access, and a shared kitchen. The building's prime location is across from a Wawa and near the Providence Town Center. This owner/user opportunity presents a strong potential for income generation and appreciation in a rapidly growing area. The current leases allow for rent bumps. The property is fee simple ownership.

Location Insight

City

Collegeville

County

Montgomery

State

Pennsylvania

Longitude

-75.4596

Latitude

40.1772