Property Details for 129 Main St

Year built

1891

Property size

13,265 SF

Property type

Commercial real estate

APN

55-5443-08-87-4756

Description

This exceptional mixed-use property in Kutztown, PA, presents a compelling investment opportunity. The 13,265 square foot building, constructed in 1891, boasts nine units: six three-bedroom and two two-bedroom apartments, plus a commercial space currently occupied by a long-standing restaurant. The property sits on a 5,227 square foot lot at a prominent corner location on West Main and Greenwich Streets, offering excellent visibility and walkability to downtown amenities. The building features a brick exterior and a flat rubber membrane roof. Currently, tenants are responsible for electricity, while the owner covers heat, hot water, and cold water; a new owner could implement a utility billback system. On-site laundry facilities add convenience. The property's location near Kutztown University provides consistent demand, with approximately 50% of students seeking off-campus housing. Below-market rents offer significant value-add potential, contributing to a strong pro-forma cap rate of 8.82%. Easy access to major roadways, including Route 222 and Interstates 78 and 476, enhances its appeal. The asking price is $1,000,000, representing a current cap rate of 7.72%. This is a rare opportunity to acquire a well-located, income-producing asset with substantial upside potential in a thriving college town. The property's strong location, combined with the potential for rent increases, makes this an attractive investment for those seeking a stable and growing income stream. The building is a three-story structure with one building on the lot. The property's APN is 55-5443-08-87-4756.

Location Insight

City

Kutztown

County

Berks

State

Pennsylvania

Longitude

-75.7768498

Latitude

40.5182812