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118 120 E Main St

$2,890,000

118 120 E Main St, East Norriton Township, PA 19401

Active
Last Updated: 07/01/2025

7.83

Cap Rate

226,288

NOI

Details:
Cap Rate:    7.83%
NOI:    $226,288
Building Size:    19,000 sqft
Year Built:    1965
Price Per Sqft:    $152.11
Zoning:    COMMERCIAL
Roof:    Asphalt, Flat, Rubber
Highlights:
  • Days on Market: 103
  • Heating: Central
Description:

18-120 E. Main Street presents a standout investment opportunity with a 7.83% cap rate and significant growth potential in a revitalizing market—this fully renovated, mixed-use property, spanning approximately 19,000 SF, underwent a 2022-2023 gut rehab and features 17 residential units (16 efficiencies and one 1-bedroom) with modern kitchens, stainless appliances, hardwood floors, split-unit HVAC, high ceilings, and large windows, complemented by a common area with a full kitchen and bathroom plus an income-generating laundry facility, while the 9,300 SF “El Jefe” Mexican restaurant, secured by a long-term NNN lease through 2032, includes a highly valuable liquor license at no additional cost, enhancing its appeal with a full basement kitchen, expansive dining/lounge areas with pool tables and entertainment platforms, an outdoor courtyard, and an untapped rooftop deck, generating $331,246 in annual income ($240,714 residential, $90,532 commercial) and a $204,537 NOI after expenses. The property sits just minutes from I-476 and the Norristown Transportation Center amidst $531M+ in nearby redevelopment including the $400M Montgomery County Justice Center, $100M Lafayette Street Extension, and $31M MM Partners project—don’t miss out, act now to secure this cash-flowing asset with liquor license included!

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