2228 to 2234 Farmington Avenue is a 26,000 SF industrial condo building with 13,000 SF per floor. This is an excellent property for anyone needing a 1031 tax free exchange. It is 80% leased with 4700 SF vacant on the 2nd floor. There are currently four tenants (3 on the first floor and one on the second floor) with an annual rental rate of $73,092. The 3 tenants on the first floor are all "net" leases while the sole tenant on the second floor is a + utilities lease. All tenants have their own electric and gas services, restrooms, offices and loading facilities. This building underwent major renovations in 2017 and 2018, including a new 10,000 SF rubber roof, replacement of steel sash windows with Andersen windows, interior and exterior painting and several other upgrades. The monthly condo fee is $615 (the majority of which is billed back to the tenants who have "net" leases). This is part of the Colebrookdale Industrial Condominium Center which is a 5 building complex sitting on 20 acres. The property is owned by a licensed Pa. Real Estate Broker.
MLS# | PABK373168 |
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Listing Type | For Sale |
Style | Industrial |
Sub-Type | Resale |
Status | 10000069142 |
Year | 1900 |
Days On Site | 32 |
SQ Feet | 26,000 |
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Units | 4 |
Zoning | INDUSTRIAL |
Area Information | |
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State | PA |
County | BERKS-PA |
City | BOYERTOWN |
Zip Code | 19512 |
Area | Douglas Twp (10241) |
Listing VS Median (in 19512) | |
Price: $695,000 low | high Med: $191,400 SqFt: 26,000 low | high Med: 1,508 $ / SqFt: $27 low | high Med: $127 On Site: 32 low | high Med: 33.500000 Sourced by Back At You |