137 Erin Ln Brodheadsville, PA 18322
- Specialty properties
- 35,693 SF
- 10.77 lot acres
Current Use by Public Records
- Specialty properties
Property Details for 137 Erin Ln
- Year built
- 1979
- Lot size
- 10.77 lot acres
- Property size
- 35,693 SF
- Property type
- Specialty properties
- Property subtype
- Lifestyle centers
Description
This exceptional investment opportunity presents a 35,693 square foot, seven-unit strip center situated on a substantial 10.77-acre lot in Brodheadsville, Pennsylvania. The property, located at 137 Erin Ln, boasts a prime commercial location at a three-way traffic light intersection of Routes 209 and 115, experiencing approximately 17,000 vehicles daily. Currently, six of the seven units are occupied, resulting in an impressive 86% occupancy rate and a 9.2% cap rate, with a pro-forma cap rate of 9.53%. The property features 140 parking spaces and two loading docks, catering to the diverse tenant mix. Recent renovations in 2022 and 2024 include a new rubber roof and updated front facade. The building, constructed in 1979, offers a mix of ceiling heights ranging from 10-12 feet to 22-24 feet. The property is zoned for commercial use (Comm) within Chestnuthill Township's General Commercial (GC) district, adjacent to the Village Commercial (VC) district. Its strategic location offers easy access to major roadways, including Route 33 (approximately 5 miles), Stroudsburg (11 miles), Allentown (22 miles), and major metropolitan areas like New York and Philadelphia (within 75 miles). The asking price is $2,750,000, translating to $77.05 per square foot and $392,857.14 per unit. The significant land area presents considerable potential for future expansion. The strong existing NOI of $254,139, with a pro-forma NOI of $261,939, further underscores the investment's potential for immediate return and growth. This fee-simple ownership offers a compelling redevelopment opportunity for a savvy investor seeking a high-yield, multi-tenant property in a rapidly growing area. The property's proximity to St. Luke's Medical Center further enhances its long-term value and appeal.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brodheadsville
- County
- Monroe
- State
- Pennsylvania
- Longitude
- -75.3977
- Latitude
- 40.9264
