Property summary
This exceptional investment opportunity encompasses a 4,000 square foot hospitality complex situated on a 1.57-acre lot in Grantville, Pennsylvania, at 9969 Allentown Blvd (APN: 25-011-027 & (001)). Currently operating as an eight-unit extended-stay motel with two additional income-generating mobile homes, this property presents significant upside potential. The property boasts three buildings, all single-story, built in 1950, and features ten units in total. The asking price is $599,000, representing a price per square foot of $149.75 and a pro-forma cap rate of 11.40%, with a current NOI of $69,652.25. The Commercial Highway zoning allows for hotels, restaurants, and vehicle-related businesses. Its strategic location, just one mile from the Hollywood Casino and Racetrack, provides unparalleled access to a large workforce and significant tourism traffic. The substantial surplus land offers considerable potential for expansion or redevelopment, further enhancing the property's value. This property is a rare combination of immediate income generation and significant future development potential, making it an attractive investment for discerning buyers.
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Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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Zoning
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