650 Washington Ave Jermyn, PA 18433
- Investment properties
- 0.11 lot acres
Current Use by Public Records
- Investment properties
Property Details for 650 Washington Ave
- Lot size
- 0.11 lot acres
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 731204006800
- APU
- 731204006800
Description
This exceptional mixed-use property in Jermyn, PA, presents a rare opportunity for savvy investors and entrepreneurs. The 5,300 square foot building boasts a thriving, 50-year-old restaurant with seating for nearly 100 patrons. The restaurant is immediately profitable, having been meticulously maintained and updated by the same owner for the past 20 years. Recent improvements include a new forced hot air heating and air conditioning system, roof, windows, and siding, ensuring years of maintenance-free operation. All restaurant equipment, including coolers, freezers, and fountains, is included in the sale. A significant advantage is the current owner's willingness to assist with a smooth transition, offering their expertise as an employee or consultant. Adding to the investment potential, three fully rented apartments (two one-bedroom/one-bathroom and one two-bedroom/one-bathroom) are located above the restaurant, offering below-market rents and long-term tenants. The property also includes a spacious parking lot accommodating 35-40 vehicles, situated adjacent to the building. This 0.46-acre lot provides ample space for customers and residents. This turnkey operation offers immediate income streams from both the restaurant and rental units, making it an attractive and financially sound investment.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $260,000
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Location Insight
- Map
- Local Demand
- City
- Jermyn
- County
- Lackawanna
- State
- Pennsylvania
- Longitude
- -75.5442
- Latitude
- 41.5321
- CBSA code
- 42540
- CBSA name
- SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA
