24 Robinson St Pottstown, PA 19464-6440

Property Details for 24 Robinson St

Year built

2003

Lot size

2.59 lot acres

Property size

13,060 SF

Zone code

FO

Property type

Office buildings

APN

16-00-24719-00-6

APU

160024719006

Description

This exceptional investment opportunity presents two single-tenant office buildings totaling 22,062 square feet, strategically located in Pottstown and Lehighton, Pennsylvania. Both properties are 100% occupied under long-term leases with the Commonwealth of Pennsylvania, specifically the Department of Human Services (DHS), providing crucial services to the community. The Pottstown location, built in 2003 and renovated in 2021, sits on 2.59 acres and is zoned Flex Office (FO) and Highway Commercial District (C-3). The Lehighton property, constructed in 2006 and also renovated in 2021, occupies 2.02 acres and shares the same zoning. The properties benefit from new 10-year lease extensions executed in 2019 and 2020, commencing in early 2021. These leases include annual CPI rent adjustments, capped at a 5% increase, safeguarding the owner's return. The Lehighton lease expansion in 2021 incorporated the Department of Health, adding 1,160 square feet and requiring significant leasehold improvements, including a separate entrance, waiting room, reception area, and two exam rooms. The combined portfolio boasts a strong NOI of $318,657, an 8.07% cap rate, and an asking price of $3,950,000 ($179.04 per square foot). This is a rare chance to acquire a stable, high-performing asset with a secure tenant and significant long-term growth potential. The properties serve as essential community hubs, with the Lehighton location being the only such center in Carbon County and the Pottstown location one of only two in Montgomery County.

Location Insight

City

Pottstown

County

Montgomery

State

Pennsylvania

Longitude

-75.6633

Latitude

40.2568

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments