501 Harford Street W
Milford, PA 18337
Investment Property for Sale at $4,500,000 & Adjacent Vacant Parcel for Sale at $125,000
Angel Commercial, LLC, acting as the exclusive real estate broker, is pleased to offer for sale 501 Harford Street W in Milford, PA, a prime investment property offering a fully leased retail store and a development opportunity on an adjacent land parcel. This unique opportunity provides multiple avenues for future development and value-add potential. Both properties are in a Development District (DD) Zone.
The retail store is a modern, single-story building with 22,688 SF of space on 1.94 acres, located near a highly visible corner lot on West Hartford St. The property is easily accessible with two curb cuts, and features two covered loading docks and 121 parking spaces. The property is fully leased to Pike Farms LLC, doing business as Key Food Marketplace, a reputable and established tenant, with a remaining lease term of five years. The tenant is responsible for all maintenance and repair expenses and real estate taxes, providing a hassle-free investment opportunity for the new owner. This property is being offered for sale at $4,500,000. The 2022 NOI was $267,384.00, and the cap rate is 5.9%.
In addition to the retail store, an adjacent 0.83 acre land parcel is also available for sale, providing additional value and potential for the new owner. The parcel is currently used to provide additional parking and is ideal for future development or expansion of the existing retail store. The land parcel is being offered for sale at $125,000.
Located in Pike County, PA, in the heart of the Pocono Mountains and near the New Jersey border, 501 Harford Street W is strategically located only 2.3 miles from I-84, providing easy access to other major cities in the region. Close to restaurants, shopping and banks, the property is next to Citizen Bank and State Farm Insurance and across the street from a Gulf gas station.
Angel Commercial, LLC
|Sale Price:||#1: $4,500,000, #2: $125,000|
|Real Estate Taxes:||#1: $10,671.09 (Property) + $36,193.84 (School), #2: $708.35 (Property) + $2,402.55 (School)|
|NOI:||#1: $267,384 (2022)|
|Cap Rate:||#1: 5.9%|
|Total Building Size:||#1: 22,268 SF|
|Land:||#1: 1.94 Acres, #2: 0.83 Acres|
|Zoning:||#1 & #2: Development District (DD)|
|Year Built:||#1: 1970, Renovated 1986|
|Construction:||#1: Steel / Concrete Block|
|Traffic Count:||18,341 Average Daily Volume|
|Parking:||#1: 121 (115 + 6 Handicapped) Spaces, #2: 25 Spaces|
|Loading:||Two Covered Loading Docks|
|A/C:||Central Air Conditioning|
|Power:||120/208 Volt, 1,600 amps, Three-Phase, Four-Wire|