Remarks

Attenion Real Estate Developers!

With a shortage of rentals, this property has a tremendous upside especially for residential, apartment and condo development The borough also would like to see residential development such as condos and or apartments. A similar warehouse building was converted on the corner of Beech and Evans St in 2016.

The property at 504-512 Chestnut St is situated on the corner of Chestnut and North Washington St, Pottstown PA 19464 and is located in the TRADITIONAL TOWN NEIGHBORHOOD ZONING DISTRICT.

The property at 504 Chestnut St formerly known as 68 N Washington St. was changed by Pottstown borough for identification purposes as certain documentation was conflicting. The property is Land Use: 3345 Ind: Old Mill Type, < 50000 Sq Ft Structure Type: Manufacturing/Processing Use Type: Warehouse

The warehouse portion of the property consists of 11280 SF+/- ( 4120 SF for the 1st and
2nd floors This parcel also consists of a house appx 3960SF+/- with a full basement consisting of 1280SF +/-.
In addition, the property has 2 Fresh water WELLS and the parcel is completely paved. Was recently supplied natural gas (No meter set yet) and has 3 phase available on Chestnut St. These above structures are sound but the brick facade on warehouse needs repainting and repair along with the roof repair as the natural light roof needs to be replaced and leaks when raining.

512 Chestnut St consists of a very sound concrete block structure 3750 SF+/- also zoned Industrial, the second floor needs floor repair and is used very little currently. This floor is ONLY accessible by the other warehouse. (See Video Walk-through) . In Addition another structure consisting 400 SF +/- between and attached to both warehouse buildings. This parcel is more detailed
This parcel also is fully paved as well.

BOTH properties consist of about 15430SF +/- of above ground footage with another 4300 SF +/­ support and basement areas.

The original asking price for COMPLETE corner and aforesaid properties was $65 per foot or $1M. REDUCED to $800,000

Seller would entertain a partnership, financing, and of course a cash purchase with transfer, and or Lease with option to purchase.

Seller is willing to assist Buyer in every way to make this property a profitable acquisition. Taxes reflect both properties combined.

Details

MLS#: PAMC2113764
Price: $665,000

Year Built: 1920

County: MONTGOMERY
Tax Fee: 15534.0