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Key Details
Sold Price $695,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 26,000 sqft
Price per Sqft $26
MLS Listing ID PABK373168
Sold Date 07/16/21
HOA Y/N N
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $11,384
Tax Year 2020
Lot Dimensions 0.00 x 0.00
Property Description
2228 to 2234 Farmington Avenue is a 26,000 SF industrial condo building with 13,000 SF per floor. This is an excellent property for anyone needing a 1031 tax free exchange. It is 80% leased with 4700 SF vacant on the 2nd floor. There are currently four tenants (3 on the first floor and one on the second floor) with an annual rental rate of $73,092. The 3 tenants on the first floor are all "net" leases while the sole tenant on the second floor is a + utilities lease. All tenants have their own electric and gas services, restrooms, offices and loading facilities. This building underwent major renovations in 2017 and 2018, including a new 10,000 SF rubber roof, replacement of steel sash windows with Andersen windows, interior and exterior painting and several other upgrades. The monthly condo fee is $615 (the majority of which is billed back to the tenants who have "net" leases). This is part of the Colebrookdale Industrial Condominium Center which is a 5 building complex sitting on 20 acres. The property is owned by a licensed Pa. Real Estate Broker.
Location
State PA
County Berks
Area Douglas Twp (10241)
Zoning INDUSTRIAL
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Flooring Concrete, Wood
Heat Source Natural Gas
Exterior
Garage Spaces 26.0
Utilities Available Electric Available, Multiple Phone Lines, Natural Gas Available, Phone, Phone Connected
Water Access Y
Roof Type Asbestos Shingle,Rubber
Street Surface Black Top
Accessibility None
Road Frontage Boro/Township
Total Parking Spaces 26
Garage N
Building
Foundation Stone
Sewer On Site Septic
Water Well
New Construction N
Schools
School District Boyertown Area
Others
Tax ID 41-5386-14-44-6804-C01
Ownership Condominium
Acceptable Financing Industrial Development Authority, Conventional, Cash
Listing Terms Industrial Development Authority, Conventional, Cash
Financing Industrial Development Authority,Conventional,Cash
Special Listing Condition REO (Real Estate Owned)
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