631 Ctr St Freeland, PA 18224-1910
This substantial 7,700 square foot brick building sits on a prominent corner lot in the heart of Freeland, Pennsylvania, offering exceptional visibility on a busy street. The property encompasses five residential apartments and two commercial storefronts, previously occupied by a restaurant and a barber shop. The versatile nature of the commercial spaces presents a multitude of redevelopment opportunities for prospective buyers. The building is currently vacant and has been condemned due to a reported sewer leak in the basement. This requires immediate attention and presents a significant factor in the overall investment. The 0.09-acre lot provides ample space for potential expansion or outdoor amenities, depending on the future use. All square footage measurements are approximate. The property's central location and substantial size make it an attractive proposition for investors seeking a project with significant upside potential. While requiring substantial rehabilitation, the building's prime location and existing infrastructure offer a strong foundation for a successful commercial venture. The buyer should be prepared for significant renovation costs associated with addressing the condemned status and the necessary repairs. This is a unique opportunity to acquire a large-scale property in a desirable location, ripe for revitalization.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.