2228 Farmington Avenue

    Boyertown, PA 19512
    • $725,000
    • STATUS: Active
    • ON SITE: 326 days
    • ID#: 7078358
    UPDATED: 32 min ago
    $725,000
    • 0
      BEDS
    • 20
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 26,000
      SQFT
    • $28
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1901
    County:

    School Ratings & Info

    School District:
    Listing courtesy of Brode & Brooks Inc.

    Description

    The building address for ths building is 2228 to 2234 Farmington Avenue. This is a 26,000 SF two story industrial building that is perfect for a USER who needs 8300 to 13000 SF and can run their operation from a second floor location (loading of material/ product by dock and forklift - alternative is to install a material lift). The first floor is rented to 3 tenants with an annual BASE rent of $53,211 PLUS the "nets" (meaning the tenants pay their share of all operating costs in addition to the base rent- which came to $1.40 per SF per year in 2016). All spaces have their own electric service, gas service, offices, restrooms and docks. The BASE rental income from the first floor tenants would support the entire debt service for this building (at 75% LTV, 4.75% interest rate on a 20 year amortization schedule)with $11,000 left over. The building has undergone extensive renovations, including: (1) a new rubber roof of 10,000 SF (20 year product warranty), (2)Exterior painted with BEHR Elastomeric paint, (3) 12 new 6' x 6' Andersen 100 Series slider windows, (4)Interior of 8300 SF 2nd floor space has been painted (walls and floors). Other improvements include a new ADA restroom on the 2nd floor, new carpeting in all 2nd floor offices and a new heat/CA system for one of the 1st floor office areas. FEMA has provided written verification that this building is NOT in the Special Flood Hazard Area (SFHA). The current tenants expiration dates for their leases are 3/31/2020; 2/28/23 and 2/28/19. Detail tenant information is available with a signed confidentiality statement. The Colebrookdale Industrial Center is a condominium project of 5 buildings totalling approximately 90,000 SF (with the 2228 to 2234 Farmington Avenue building being one of these buildings). The monthly condo fee for this building is $929 in 2017).

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    The data relating to real estate for sale on this website appears in part through the TREND Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which The Kirk Simmon Team | Berkshire Hathaway HomeServices Fox & Roach participates, and is provided by TREND through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Copyright 2018 TREND, All Rights Reserved. Information Deemed Reliable But Not Guaranteed. Data last updated 2018-09-25T21:55:46.44.
    www.kirksimmon.com/homes/78449553

    2228 Farmington Avenue Boyertown, PA 19512

    • Price: $725,000
    • Status: Active
    • Updated: 32 min ago
    • ID#: 7078358
    0
    Beds
    0
    Baths
    0
    ½ Baths
    20
    Acres
    26,000
    SQFT
    $28
    $/SQFT
    1901
    Built
    Neighborhood:
    None
    County:
    Berks
    Area:
    Douglas Twp (10241)
    School District:
    Boyertown Area
    Property Description
    The building address for ths building is 2228 to 2234 Farmington Avenue. This is a 26,000 SF two story industrial building that is perfect for a USER who needs 8300 to 13000 SF and can run their operation from a second floor location (loading of material/ product by dock and forklift - alternative is to install a material lift). The first floor is rented to 3 tenants with an annual BASE rent of $53,211 PLUS the "nets" (meaning the tenants pay their share of all operating costs in addition to the base rent- which came to $1.40 per SF per year in 2016). All spaces have their own electric service, gas service, offices, restrooms and docks. The BASE rental income from the first floor tenants would support the entire debt service for this building (at 75% LTV, 4.75% interest rate on a 20 year amortization schedule)with $11,000 left over. The building has undergone extensive renovations, including: (1) a new rubber roof of 10,000 SF (20 year product warranty), (2)Exterior painted with BEHR Elastomeric paint, (3) 12 new 6' x 6' Andersen 100 Series slider windows, (4)Interior of 8300 SF 2nd floor space has been painted (walls and floors). Other improvements include a new ADA restroom on the 2nd floor, new carpeting in all 2nd floor offices and a new heat/CA system for one of the 1st floor office areas. FEMA has provided written verification that this building is NOT in the Special Flood Hazard Area (SFHA). The current tenants expiration dates for their leases are 3/31/2020; 2/28/23 and 2/28/19. Detail tenant information is available with a signed confidentiality statement. The Colebrookdale Industrial Center is a condominium project of 5 buildings totalling approximately 90,000 SF (with the 2228 to 2234 Farmington Avenue building being one of these buildings). The monthly condo fee for this building is $929 in 2017).
    Exterior Features

    Exterior BrickBlockext Exterior Amenities HwyexposureSignext Foundation Stone Foundation Load Drive-In DoorTailgate Location RuralIndustrial ParkHighway Location Types Stream/Creek Lot Dimensions 1000 X IRR Parking Lot ParkingPaved ParkingStone ParkingOff StreetHandicap Parking Roads Boro/Township Roof Flat RoofPitched RoofShingle RoofRubber Topography LevelHillside Water Front Yes Water Frontage 1000

    Interior Features

    Bathrooms Three+ BathroomsPrivate Restrooms Building Features Overhead DoorSprinklersys Floor WoodHeavydutyflr Handicap None Hot Water Electric Interior Square Feet Source Seller Walls Ceilings SheetrckintwBlockintwllMasonintwll

    Property Features

    Annual Gross Income 53211.0 Building Name Colebrookdale Ind Center Building Or Business IndustrialR&D Flex SpaceLightmfgWarehouse Current Financing Conventional Electric Service 200-300AmpelCircuit Breakers Fuel On Site On Site GasOn Site Electric Land Only No Land Use Code 3335 Lease Type Net Leased Units 3 Lot Number 6804-C01 Property Option Sale Sewer Septic On Site Septic Tax Year 2018 Tenancy Various Leases Total Assessment 280000.0 Total Taxes 10732.0 Utilities Water AvailableSewer AvailableGas AvailableElectric AvailablePhone Utilities Water WellWell-Shared Zoning Code Li



    The data relating to real estate for sale on this website appears in part through the TREND Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which The Kirk Simmon Team | Berkshire Hathaway HomeServices Fox & Roach participates, and is provided by TREND through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Copyright 2018 TREND, All Rights Reserved. Information Deemed Reliable But Not Guaranteed. Data last updated 2018-09-25T21:55:46.44.
     
    The Kirk Simmon Team | Berkshire Hathaway HomeServices Fox & Roach
    100 Deerfield Lane, Suite 140
    Malvern PA, 19355
    Listing courtesy of Brode & Brooks Inc.