1059 VAN KIRK ST, Philadelphia, Pennsylvania
1059 VAN KIRK ST, Philadelphia, Pennsylvania 19149 - Investor Entrepreneur Alert: Established Mixed-Use Commercial Property For Sale on a prominent corner with high traffic counts in the Oxford Circle Area of Philadelphia. Good for either owner-occupant or investor. Total Annual Income: $37,744, 5% Residential Vacancy, 20% Expenses, NOI $29,882, ROI is 21% of 75% LTV investment. DSCR is 2.13. This leveraged model generates a 10% CAP at the asking price. The property contains one one-bedroom (Section-8) and one studio apartment, both with hardwood floors, good kitchen, and bath, electric heat; plus one 1,275 SF commercial retail space actively used as a pizzeria. Separate meters. Essentially, the present residential income covers the mortgage, so the commercial component can be managed as the money-maker. Sale of real estate only, no commercial fixtures. Existing commercial tenant is open to a negotiable exit or a renewed multi-year lease. Manifest your dream. Call for additional details, property brochure or appointment.
Listing Courtesy of Keller Williams Realty Center City
“Chris did a terrific job helping me to find just the right home and holding my hand all through the process of buying a home. Chris was always avaiable on the momentary notice to address any issue, large or small; and many times i had to wonder if he ever takes a break. I would recommend Chris for any real estate needs in a heartbeat!!! Thank you The Somers Team!”