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18-120 E. Main Street presents a standout investment opportunity with a 7.83% cap rate and significant growth potential in a revitalizing market"”this fully renovated, mixed-use property, spanning approximately 19,000 SF, underwent a 2022-2023 gut rehab and features 17 residential units (16 efficiencies and one 1-bedroom) with modern kitchens, stainless appliances, hardwood floors, split-unit HVAC, high ceilings, and large windows, complemented by a common area with a full kitchen and bathroom plus an income-generating laundry facility, while the 9,300 SF "El Jefe" Mexican restaurant, secured by a long-term NNN lease through 2032, includes a highly valuable liquor license at no additional cost, enhancing its appeal with a full basement kitchen, expansive dining/lounge areas with pool tables and entertainment platforms, an outdoor courtyard, and an untapped rooftop deck, generating $331,246 in annual income ($240,714 residential, $90,532 commercial) and a $204,537 NOI after expenses. The property sits just minutes from I-476 and the Norristown Transportation Center amidst $531M+ in nearby redevelopment including the $400M Montgomery County Justice Center, $100M Lafayette Street Extension, and $31M MM Partners project"”don't miss out, act now to secure this cash-flowing asset with liquor license included!
Property Type(s):
Commercial
| Last Updated | 3/20/2025 | Year Built | 1965 |
|---|---|---|---|
| Community | Norristown Boro (10613) | County | MONTGOMERY |
SCHOOLS
| School District | NORRISTOWN AREA |
|---|
Additional Details
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | Norristown Boro (10613) |
| CONSTRUCTION | Block |
| HEAT | Central, Electric |
| LOT | 5227 sq ft |
| PARKING | None |
| SEWER | Public Sewer |
| TAXES | 9186 |
| WATER | Public |
Location
Listing provided by Iron Valley Real Estate Doylestown
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Data last updated: 3/21/25 5:26 AM PDT
This IDX solution is (c) Diverse Solutions 2025.
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