173 Brown St East Stroudsburg, PA 18301

Property Details for 173 Brown St

Year built

1968

Lot size

0.31 lot acres

Property size

12,240 SF

Zone code

IM

Property type

Medical offices

Property subtype

Medical centers

APN

05-1.3.3.4-1

APU

513341

Description

This exceptional investment opportunity presents two Class B medical office buildings totaling 32,916 square feet, situated on a 1.92-acre lot in East Stroudsburg, Pennsylvania. Built in 1961 and 1968, with renovations in 1980 and 1992, the property features two two-story buildings offering 140 parking spaces. Currently boasting 76% occupancy with a multi-tenant lease structure (gross lease type), the property offers a compelling value-add opportunity. The buildings are strategically located adjacent to Lehigh Valley Hospital – Pocono, a major healthcare provider, and benefit from annual CPI rent bumps. With a pro-forma NOI of $446,772 and a pro-forma cap rate of 15.41%, this property presents a strong return on investment. The asking price is $2,900,000. The IM zoning permits a variety of uses. The property's proximity to East Stroudsburg University and major roadways, including Interstate 80, ensures high visibility and accessibility. The current lease terms include one year remaining, presenting a chance to secure longer-term, higher-yielding leases. This presents a unique opportunity for owner-users or investors seeking to capitalize on the strong healthcare market in the Pocono Mountains region. The property is less than a quarter-mile from East Stroudsburg University of Pennsylvania and within one mile of a Walmart Supercenter. It's also conveniently located five miles from St. Luke's Monroe Campus (opening April 2024) and 39 miles from Lehigh Valley International Airport (ABE).

Location Insight

City

East Stroudsburg

County

Monroe

State

Pennsylvania

Longitude

-75.1753

Latitude

40.9915

CBSA code

20700

CBSA name

EAST STROUDSBURG, PA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments