This website uses "cookies" to ensure you get the best experience on our website. Using this website means you're OK with it.
Note

Commercial Office Building and 168-Acre Development Portfolio

No image

Property Overview

Price/Rent PSF $ 2,500,000.00
Asset Type Office
Trade Type Sale
SQ. FT. Available 10,000
Date Available 01/12/2021
Additional URL Link
Floors 2
Additional parameters Show
Search Demographic Data LandCheck Explore financing options
Click to add the listing to Saved Listings
You need to be logged in to do this. Click the link above to log in or register for free so you can do this
Copy iframe
You need to be logged in to do this. Click the link above to log in or register for free so you can do this
Make a Note
You need to be logged in to do this. Click the link above to log in or register for free so you can do this
Add to Listing Report
You need to be logged in to do this. Click the link above to log in or register for free so you can do this
Create Listing PDF
You need to be logged in to do this. Click the link above to log in or register for free so you can do this

Description

Location
This property portfolio is adjacent to a 75,000 square foot Luther Ridge Assisted Living Facility and the new 40 bed Nursing Home that was just constructed and began operating in July 2020. Facility is beautifully manicured and fully landscaped. This property is also next to a 22,000 square foot medical facility owned by Lehigh Hospital doctor group that leases to Lehigh Hospital for OB/GYN and women's care facility. Due to the county's statistically growing population and aging population, there is a shortage of/need for retirement housing and apartments.

Sale
Portfolio of 5 properties including a 10,000 square foot commercial building with Federal and State County tenants: PA Conservation, Penn State University, USDA Federal Agriculture Center, Nature Resource Center. There is still five years left on lease. Lease net operating revenue is approximately $8600+/month with building appraised at $1,250,000. This property portfolio is adjacent to a 75,000 square foot Luther Ridge Assisted Living Facility and the new 40 bed Nursing Home that was just constructed and began operating in July 2020. Facility is beautifully manicured and fully landscaped. This property is also next to a 22,000 square foot medical facility owned by Lehigh Hospital doctor group that leases to Lehigh Hospital for OB/GYN and women's care facility. Due to the county's statistically growing population and aging population, there is a shortage of/need for retirement housing and apartments. Strategic development opportunity for professional real estate investor. $2,500,000 for the entire portfolio totaling 168 acres. In addition to the 10,000 SFT building on 2.66 acres, portfolio includes:



1. 80-Acre Site Prime for Development of Retirement Village. Site is adjacent to operational skilled nursing home and assisted living facilities. The front 2 acres are zoned commercial along the highway and the balance of 78 acres is zoned residential. Water, sewer, and gas line connections are 50 ft away to connect. Ample supply for municipal water, electricity, and gas. Property is just across route 901 from the new Nursing Home that was just constructed and began operating in July 2020. The 80-acre parcel goes from highway 901 all the way back to the riverside. Property is on the south-bound side of 901 overlooking the river and woods. This land sits on West Branch of Schuylkill river in front of game land preserve. Beautiful panoramic view with southern exposure. $395,000



2. 4.6-Acre Commercial/Medical Zoned Sites Prime for Development. This site has three 1.5-acre lots zoned commercial/medical with recorded subdivision plans. Last traffic count was approximately 12,000/day. These three lots are approved and improved with public water, public sewer, natural gas, storm water plan and sed basin for storm water. These three commercial lots in front of the new nursing home are not just approved but improved as well with a commercial/medical zoning. 18.24.0014 is the parcel ID for the 4.6 acres, 3 subdivided lots. Lots are ready for development, requiring only building application and tenants. This property is adjacent to the new 40-bed Nursing Home that began operations in July 2020, with an estimated 80-85% operating turnover. This property is also next to a 22,000 square foot medical facility owned by Lehigh Hospital doctors? group that leases to Lehigh Hospital for OB/GYN and women's care facility. $597,000 for 3 lots purchased together or 2(a), 2(b), and 2(c) - $224,900 each



3. Phase 3 (25 acres) now available for residential development of 31 flat lots for single family plus potential 14 duplexes, next to 64 existing home development. The 64 existing homes are in Phase 1 and Phase 2, adjacent to Phase 3. Estimated lot development based on preliminary plan. Public water, public sewer, natural gas available. This property is adjacent to the 75,000 square foot assisted living facility, Luther Ridge, that was built in late 1990?s and is approximately 85% full. $325,000



4. 23-acre site primed for development of 200+ apartment complex and townhomes. Public water, public sewer, natural gas available. Land requires final engineering. The 23-acre parcel is adjacent to the Luther Ridge Assisted Living Facility that has been operating since 1990s. Apartment complex could be a feeder to the assistant living facility.



All sizes are estimated. Tax information is estimated and not complete. Please verify all information with county and state. All documents and plans available upon request. Strategic development opportunity for professional real estate investor. MLS # PASK133724

Location

Are you sure you want to delete your listing

We recommend you archive listings rather than delete them, for future reference.

Can we add this to our comparable database?

Are you sure you want to archive your listing

Can we add this to our comparable database?

Please type your email and we'll send you the mail with all pdfs attached. You can also download each pdf from the list below.