Overview

Summary

  • Offering Price $2,500,000
  • Building Size 18,200 SF
  • Apartment Units 22
  • Lot Size 6,266 SF
  • Commercial Units 2

Main Street Lofts is a mixed-use redevelopment site consisting of existing ground-floor retail and to-be-built loft-style apartments on the second and third floors. The subject property is located in the heart of the borough at the corner of Main Street and Church Street, only one block from the center of Bridge Street. Located in a vibrant and growing town, Main Street Lofts is within walking distance of the charming downtown area, known for its eclectic shops, restaurants, and cultural events. Residents enjoy easy access to scenic parks, direct connections to the Chester Valley Trail and the Schuylkill River Trail, and local attractions.

The current owners went through the zoning approval process and were approved for 22 loft-style units to be built in the existing building on floors two and three. Both floors will consist of 11 units each. The building also has roughly 3,525 SF of ground floor retail that is fitted out and occupied at roughly $20 PSF modified gross. A new owner could either increase the commercial rent or implement NNN reimbursements for additional income. Both tenants are responsible for all utilities, trash, and snow removal outside their stores. 

The Borough of Phoenixville boasts a population of roughly 20,300 residents, and its growth is fueled by young professionals and families seeking a dynamic living environment. The borough's strategic location, just 28 miles from Philadelphia and 9 miles from King of Prussia provides access to metropolitan conveniences while maintaining a charming small-town atmosphere. Phoenixville is experiencing robust population growth, increasing over 10% (CoStar) in recent years.

Main Street Lofts presents an excellent opportunity to acquire a mixed-use redevelopment site in the highly sought-after Phoenixville, Chester County, Pennsylvania. 

Key Facts

  • — Approved Development/Conversion: Fully Approved for 22 Apartment Units to be Built Out In Existing Building and ±3,525 SF of Commercial Space
  • — Occupied Commercial Space: Both Commercial Spaces were Fitted Out in Past 3-4 Years; Currently Fully Occupied with Tenants
  • — Prominent Corner Location: Located at the Corner of Main Street and Church Street in Phoenixville’s Town Center Zoning District
  • — Walkable Neighborhood Amenities: Bridge Street Downtown District for Cafes, Restaurants, Bars, Boutiques, Entertainment, and the Colonial Theater
  • — Proximity to Area Major Employers: SEI Investments, Vanguard, Lockheed Martin, BNY Mellon, United Health Services, Phoenixville Hospital (Tower Health) and More