2309 Milford Road, East Stroudsburg, PA 18301
$1,700,000
Property Type:
Commercial Sale
Square Footage:
11,970
Lot Size (sq. ft.):
217,800
Status:
Closed
Current Price:
$1,700,000
List Date:
10/16/2020
Last Modified:
2/28/2025
Description
Completely remodeled 28-unit investment property producing over a 10% return. Currently operating as limited-stay lodging, each unit provides a fully furnished environment. A convenient laundry facility is being added for additional income. Onsite management provides for absentee ownership and low maintenance costs. Situated within minutes of all major roadways and amenities, this investment can provide a stable base of tenancies. Property to be subdivided from larger parcel to include 5+/- acres.
More Information MLS# PM-82279
Contract Information
Listing Service: Full Service
Lease Considered YN: No
Property Sub Type: Business
Sold Price: $1,700,000
Current Price: $1,700,000
Status: Closed
Listing Contract Date: 2020-10-16
Location, Tax, and Legal
Parcel Number: 16.7.1.39
Municipality: Smithfield Township
High School District: East Stroudsburg Area
Cnty&Muni Taxes (Legacy): 1404.31
School Tax Amount: 10752
Tax Annual Amount: 12156.31
Tax Assessed Value: 350000
Tax Book Number: 2544/137
Zoning Description: Commercial
General Property Information
Above Grade Finished Area: 11970
Stories: 1
Year Built Source: Other
Lot Size Acres: 5
Sign On Property YN: No
List Price/SqFt: 154.55
Sold Price/SqFt: 142.02
Building Area Total: 11970
Year Built: 1952
Remarks and Miscellaneous
Public Historical Remarks: Warranty: None, Ceiling: 0-9FT, Miscellaneous: Zoning Code B1
Public Remarks: Completely remodeled 28-unit investment property producing over a 10% return. Currently operating as limited-stay lodging, each unit provides a fully furnished environment. A convenient laundry facility is being added for additional income. Onsite management provides for absentee ownership and low maintenance costs. Situated within minutes of all major roadways and amenities, this investment can provide a stable base of tenancies. Property to be subdivided from larger parcel to include 5+/- acres.
Income and Expenses
Cap Rate: 10.82
Listing Terms
Cash: 1
Conventional: 1
Possession
Close Of Escrow: 1
Current Use
Residential: 1
Possible Use
Residential: 1
Investment: 1
Multi-Family: 1
Building Features
Ceiling Height: 9
Other: 1
Rail Road Track
None: 1
Cooling
Wall/Window Unit(s): 1
Heating
Electric: 1
Water Source
Well: 1
Sewer
Public Sewer: 1
Parking Features
On Site: 1
Road Frontage Type
Highway: 1
Road Surface Type
Paved: 1
Asphalt: 1
Road Responsibility
Public Maintained Road: 1
Location Tax and Legal
County: Monroe
Street Number: 2309
Street Name: Milford
Street Suffix: Road
City (Post Office): East Stroudsburg
State: PA
Postal Code: 18301
Status Change Information
Purchase Contract Date: 2021-01-07
Close Date: 2021-02-25
Close Price: 1700000
Property Features
Listing Terms: Cash; Conventional
Possession: Close Of Escrow
Current Use: Residential
Possible Use: Residential; Investment; Multi-Family
Building Features: Other
Rail Road Track: None
Cooling: Wall/Window Unit(s)
Heating: Electric
Water Source: Well
Sewer: Public Sewer
Parking Features: On Site
Road Frontage Type: Highway
Road Surface Type: Paved; Asphalt
Road Responsibility: Public Maintained Road
Listing Office:
KW Commercial - Main St
Last Updated: February - 28 - 2025
Information deemed reliable but not guaranteed.
