New Listing
3429 Derry St,HARRISBURG, PA 17111
HARRISBURG, PA 17111
Description
3429 Derry Street is a Tenant Occupied investment opportunity with over Three (3) Years remaining on the initial Five (5) Year Lease. The Lease is structured as a modified gross where Tenant is responsible for all direct utilities, interior maintenance and exterior upkeep. Owner is reimbursed for water and sewer by Tenant. The Lease currently generates $30,900.00 in annual rent, escalating by 3.00% per year. Operating expenses reported of $6,273.72, creating an in-place NOI of $25,000.00 and a resulting CAP rate of 10.32%. This return rate and Lease structure creates a tremendous investment opportunity regardless of your funding source. Further, notable capital expenditures of roof, electric water heater, natural gas forced air and electric panels were installed in 2018. The Downtown District Zoning of Paxtang Borough generously provides for a multitude of commercial and residential type uses for future value-add opportunities. See marketing brochure for the in-place operating finances of the property.
Details
| MLS # | PADA2064746 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1920 |
| Days On Site | 6 |
| Listing Provided By | U.S. Commercial Realty | Aaron Robert Skelly |
Features
| Basement | Y |
|---|---|
| Story(s) | 3 |
| Units | 1 |
| Zoning | DOWNTOWN DISTRICT (DT) |
| Acreage | 0.04 |
Interior
| Cooling | Central A/C |
|---|---|
| Heating Yes / No | Yes |
| Heating | 90% Forced Air |
Exterior
| Roof | Asphalt |
|---|---|
| Construction Materials | Brick, Masonry, Frame |
| Foundation Details | Stone, Brick/Mortar |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Private |
Utilities
| Utilities | Electric Available, Natural Gas Available, Sewer Available, Water Available |
|---|
Taxes
| Tax Annual Amount | 2433 |
|---|
Area Information
| State | PA |
|---|---|
| County | DAUPHIN PA |
| City | HARRISBURG |
| Zip Code | 17111 |
| Area | Paxtang Boro (14047) |
| Community Name | PAXTANG BOROUGH |
| School District | CENTRAL DAUPHIN |
| High School | CENTRAL DAUPHIN EAST |
| Listing VS Median (in PAXTANG BOROUGH) | |
Price: $245,000 low | high Med: $255,000 On site: 6 low | high Med: 214 | |
Market Activity 17111
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Learn More About This Property
| State | PA |
|---|---|
| County | DAUPHIN PA |
| City | HARRISBURG |
| Zip Code | 17111 |
| Area | Paxtang Boro (14047) |
| Community Name | PAXTANG BOROUGH |
| School District | CENTRAL DAUPHIN |
| High School | CENTRAL DAUPHIN EAST |
| Listing VS Median (in PAXTANG BOROUGH) | |
Price: $245,000 low | high Med: $255,000 On site: 6 low | high Med: 214 | |
