1 S Charlotte Street, Manheim, PA 17545

Property Description

Amazing mixed-use investment opportunity in Manheim's Market Square with 11% cap rate! Formally known as the Washington House, this historic landmark has been restored. High-visibility corner lot with 8,000/day traffic count. This iconic brick building is comprised of a large 1st floor commercial space + fully-occupied 25-unit boarding house on the 2nd & 3rd floors. The first floor commercial space is currently being offered as-is for $2,500/month + NN or with 10 year commitment and an allowance of $65/sqft to built it out ($277,745) + NN, and is the perfect blank canvas for a restaurant/cafe, etc. 1st Floor could be divided into 2-4 spaces to maximize rent potential. Large arched windows and a new paver patio extends across the front of the building, ideal for outdoor seating & high visibility. The open space features the rustic charm of exposed beams and brick. Rear parking lot includes 12 spaces + free street parking all around! See MLS #: PALA2053148 for more lease details. The 25-unit boarding house is fully-occupied with a waiting list to get in. Tenants pay flat weekly rate between $160-$185 per week, owner pays all utilities. Most units have been updated and feature newer LVP flooring. Benefit from many new upgrades including all new metal, architectural shingle, and rubber roofs, fully painted exterior, new windows throughout, upgraded electrical, newer plumbing, newer HVAC (2 years old)! Other highlights include hardwired security system, 2 gas furnaces, new central A/C. In addition, there is a suite that will rent our for $270 per week with a full kitchen and a loft. Schedule your private showing before it's too late!