920 & 922 Oak St Johnstown PA 15902
Sold on Warranty Deed with clear title - No back taxes- No liens.
Great Investment opportunity:
Suitable for a variety of uses:
Warehousing, distribution, servicing, retail, showroom or manufacturing and production.
The facilities have offices, kitchen and toilets.
Ideal for owner occupier: ready to move in
Ideal for investor: For immediate income; ready to lease out
Gross Income potential $106,000/year
Population (within 5 miles): 65,000 – Average household income: over $50,000/ year
High traffic volume nearby (less than ½ mile)
Fully equipped 21,254 sq ft Commercial building in an accessible location on 0.64 acres ready for occupation
Building Class: B
Description
The property consists of two buildings linked to each other, one is one story high and the other two story. The property has several loading bays offices, toilets, kitchen and lots of open space and is ideal for retail, retail and distribution, manufacturing and production, storage and distribution, servicing and related uses. It has several offices, a kitchen, men’s and woman’s toilets, conveyor belt to the upper floor and is fully equipped and ready for occupation and the utilities are already connected.
The property is in good condition and has been well maintained and is secure and alarmed.
Features:
- Loading dock
- Ramps
- Men and woman’s toilets
- Parking area
- Offices
- Several Large electric loading doorways
- Conveyor belt to second floor
- Lockable storage room
- Full lighting installed
- Heating and Hot water
- Alarm system
Location:
Located in the Laurel Mountains of Pennsylvania, Johnstown had a colorful history and great connections to neighboring communities and beyond, as well as an airport that offers daily flights to Washington and Greyhound and Amtrak train service.
The property is located within 3 hours drive of several major US cities:
Pittsburg PA 66 miles
Washington DC 180 miles
Cleveland OH 194 miles
Baltimore MD 182 miles
Harrisburg PA 137 miles
The property is close to many excellent schools and comprehensive local facilities and amenities:
Restaurants
George Obied Restaurant (.2mi), Surf N' Turf Inn (.3mi), Franco's Family Restaurant (.4mi), Dunkin Doughnuts (.5mi), Domino's Pizza (.5mi), The Strip Steakhouse & Saloon (.7mi), Murphy's (.7mi), Haven Bar And Lounge (.8mi), Thee Jolly Fiddler (.8mi), The Boulevard Grill (.8mi), Tulune's Southside Saloon (.9mi), Guiseppi's Pizza & More (.9mi), Pizza-Deli Six Pack (1.1mi), Meco's Cucina (1.2mi), BIGDOGZ GRILL (1.2mi), Joe's Place (1.2mi), That Pierogi Place (1.3mi), Moms Mini Market (1.3mi), Flood City Café (1.3mi), Fish Boat (1.3mi), Capri Catering (1.4mi), Capri Pizza and Restaurant (1.4mi), The Freight Station (1.4mi), Ciscatos Market (1.4mi), Tower of Pizza (1.4mi), Em's Original Sub Shop (1.4mi), Harrigan's Cafe & Wine Deck (1.4mi), Frank Rovida Restaurant (1.4mi), PRESS Bistro (1.4mi), SUBWAY® Restaurants (1.4mi), Shotziz Highwater Bar And Grill (1.5mi), Gallinas Pizza & Restaurant (1.5mi), C K's Wings-N-Things (1.5mi), Woodside Bar and Grill (1.6mi), Woodside Bar & Grill (1.6mi), Subway (1.6mi), Ann's Pizza (1.6mi), Szechuan (1.6mi), Asiagos (1.7mi), Clark's Corner Store (1.8mi), Em's Original Sub Shop (1.8mi), Old Toll Gate Inn (1.9mi), Primo's Pizza (1.9mi), Primos Johnstown Pa (1.9mi), Pike Inn (2.1mi), Bistro (2.2mi), Ann's Pizza (2.2mi)
Coffee
Lazarus Café (.7mi), McDonald's (1.1mi), GetGo Gas Station (1.5mi), The morning grind (1.7mi), Mill House Café (1.8mi), Sheetz #86 (2.6mi), McDonald's (2.7mi), Dunkin' Donuts (2.8mi), Westwood Plaza Theatre (2.9mi), Sheetz #65 (2.9mi), McDonald's (3.1mi), Hill Of Beans Coffee Company Cafe & Custom Brewing (3.1mi),
Bars
Club House II (.09mi), Sue Bee's (.1mi), 3 Reds Tavern (.3mi), T N C's Lounge (.5mi), The Haven Lounge (.8mi), Scotty B's (.8mi), Tulune's Southside Tavern (.9mi), Slammin Sam's (.9mi), Dively's Tavern (1.1mi), Austrian Hall (1.3mi), Scott's by Dam (1.4mi), Eva's Lounge (1.5mi), Tom and Jerry's Tavern (1.7mi), by George Inn (1.7mi), Johnstown Inn (1.9mi), Scooters (1.9mi), The Orchard (2mi), The Dugout (2.1mi), Rocky's Tavern & Hotel (2.2mi), B-29 Tavern (2.2mi), The Hideaway (2.4mi), Free Poland Society (2.6mi), Alcove Lounge (3.5mi), Pappy's Family Pub (3.7mi),
Groceries
Tony Sunseri Wholesale Food (.05mi), Randy's Bi Lo Foods (.4mi), Haven Six Pack Shop (.8mi), Tony's Sub Shop (1mi), Rose's Market (1.3mi), Corner Market (1.4mi), Carpenter's Food Store (1.5mi), Downtown Johnstown Farmer's Market (1.5mi), Giant Eagle Supermarket (1.5mi), Greater Prospect Store (1.6mi), Ideal Markets (2.1mi), Meatballs (2.4mi), B & J Foods (2.8mi), Giant Eagle Supermarket (3.1mi), Eat'n Center Deli & Grocery (3.2mi), West End Farmer's Market (3.3mi), Conzatti's Inc (3.3mi), Market Basket (3.5mi), Save-A-Lot (3.6mi), Giant Eagle Supermarket (3.8mi), Farmers Market (3.9mi), Ollie's Bargain Outlet (3.9mi), ALDI (3.9mi),
Parks
Roxbury Park (1.2mi), Point Stadium (1.8m),
Schools
East Side Elementary School (.2mi), Greater Johnstown Senior High School (.3mi), Bishop Mc Cort High School (.4mi), St Patrick Elementary School (.7mi), Ferndale Area Junior/Senior High School (1.4mi), Ferndale Elementary School (1.4mi), Our Mother Of Sorrows School (1.6mi), Westmont Hilltop Middle School (1.8mi), Cathedral Catholic Academy (1.8mi), St Andrew School (1.8mi), St Sophia Orthodox Christian Academy (1.8mi), Westmont Hilltop Elementary School (1.8mi), St Benedict Elementary School (1.9mi), Conemaugh Valley Elementary School (2.3mi), West End Catholic School (2.5mi), West Side Elementary School (2.7mi), Richland High School (2.8mi),
Shopping
Perfection Beverage Co (.09mi), J.X.M Enterprise (.2mi), A & A Closet (.3mi), Rjl Rare Books (.4mi), Family Dollar Store (.5mi), Brogies' (.5mi), Adorned Accessory & Gift Boutique (.7mi), M.T. Uniforms (1.1mi), Different From The Norm (1.1mi), Pittsburgh Khakis (1.3mi), American Eagle Central Park Store (1.4mi), J Town Fashions (1.4mi), Apparelmaster Uniform Rental ( 1.4mi),
Entertainment
Johnstown Flood Museum (1.6mi), Johnstown Area Heritage Association (2.6mi), US Army Recruiting Station Johnstown (4.1mi), Richland Cinemas (4.1mi), Wingard Cemetary (4.2mi), Silver Drive In (4.2mi), Southern Alleghenies Museum (4.8mi),
Errands
Sheesley Supply Co Inc (.1mi), Pandya Inc (.1mi), Summit Bank (.3mi), Bantly Hardware (.3mi), Flood City Millwork Supply (.3mi), Merho Fcu (.4mi), Oncology Pharmacy (.4mi), First Commonwealth Bank Branch Offices (.4mi), Rite Aid Pharmacy (.4mi), Martella's Pharmacy (.5mi), J & D Fleck Paint Co Inc (.5mi), Melissa L. Lint, RPh (.5mi)
(walkscore.com)
Demographics*:
1 mile 3 miles 5 miles
Total population 9,677 42,482 65,630
% White alone 80.33% 90.55% 91.46%
% African American 13.71% 5.87% 5.22%
% Household change (2010-15) +1.56% + 0.69% + 0.66%
2017 Average Household Income $39,388 $52,574 $53,646
*Costar
Crime rate: Low (Trulia.com)
Traffic
|
Collection Street |
Cross Street |
Traffic Vol |
Year |
Distance |
|
Central Ave |
Dupont St SW |
18,000 |
2016 |
0.41 mi |
|
Bedford St |
Heron Pl W |
17,000 |
2016 |
0.58 mi |
|
Johnstown Expy |
Johnstown Expy Ramp NW |
23,000 |
2016 |
0.61 mi |
|
Franklin St |
Thrush Rd NE |
13,000 |
2016 |
0.71 mi |
|
Franklin St |
Everhart St N |
18,000 |
2016 |
0.74 m |
Great Investment opportunity:
UNIQUE OPPORTUNITY FOR THE SAVVY BUSINESS OWNER, DEVELOPER OR INVESTOR TO OWN A SUBSTANTIAL HIGH-INCOME PROPERTY FOR A DISCOUNTED PRICE.
Average sale Price of similar property per SF in Johnstown PA: $187 / sq ft (Costar)
Comparable For Sale:
490 Central Ave, Johnstown, PA 15902 – 4,800 SF- Retail for sale – leased- $2,000,000 ($416/ SF)
151 Southmont Blvd, Johnstown, PA 15905- 9000 SF- Retail- leased- $528,000 (58.60/ SF)
1015 Menoher Blvd, Johnstown, PA 15905 – 6,800 SF- Offices- $350,000 ($51.47/ SF)
101-107 Maple Ave, Johnstown, PA 15901- 13,300 SF – industrial for rehab or redevelopment- $188,000 ($14.13/ SF)
Comparable Sold
1052-1060 Mill Run Rd Altoona, PA 16601- 24,000 SF- Industrial warehouse- Sold Dec 15, 2016 - $950,000 ($39.58/ SF)
3588 State Route 30 Latrobe, PA 15650- 24,000 SF- Retail- Sold June 2, 2016- $1,250,000 (52.08/SF)
Based on the above figures a price of $40/ SF is a reasonable estimate which puts a value on the property of $850,000.
Great income potential
Average yearly rent of similar property per SF in Johnstown PA: $6.77 / sq ft (Costar)
Assuming a lower rent of $5/ SF/ Year the projected gross income is about: $106,000 ($8,850/ month)
Real Estate Taxes:
Cambria County, PA parcel ID: 77-002.-500.000
Yearly real estate tax $2,800.00
PROPERTY IS SOLD AS IS, WHERE IS- Warranty deed- Clear title – No liens, No back taxes
Winning bidder must contact the seller within 24 Hours after the close of the auction with full details of the buyer.
There is no document preparation fee or auction premium for this auction.
10% non-refundable deposit, is due within 48 hours of auction close to be paid in escrow to the title company.
Final Payment to be made within 3 weeks of the Auction close.
All bidders to do their due diligence. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. Sale is ‘As IS’ and Buyers are responsible for fixing building code violations (if any). Buyers are bound by the Purchase Agreement which is attached under the Due Diligence section. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property.
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