Price Reduction
Address
371 E Main Street Norristown, PA
Price
$ 2,995,000
Property Attributes
  • MLS#PAMC669014
  • TypeCommercial
  • CountyMONTGOMERY
  • CityNorristown
  • AreaNorristown Boro
  • Zip19401
  • Style
  • Year Built1900
  • Taxes5910
  • Price$ 2,995,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage78408
  • Lot Size12,197 SqFt
Listing Provided Courtesy Of:
SJI Jackson Real Estate
Property Description

SJI Jackson Real Estate extends to qualified investors the opportunity to acquire the fee simple interest in the +/- 1.8 acre mixed use development site located at the corner of 371 E. Main Street in Norristown, Pennsylvania. The property consists currently of 19 individual lots situated in the Town Center-II zoning district which allows for a variety of commercial and residential uses. Sketch plans are currently in place that would allow for 18,966 of ground floor retail/commercial use, 82-98 surface parking spaces, between 60 to 96 residential units with a roof deck (floor count dependent). This project is situated in Norristown Borough's Federal Qualified Opportunity Zone, allowing for beneficial tax investment incentives, and has been awarded a Redevelopment Assistance Capital Program (RACP) grant from the Commonwealth of Pennsylvania. The site is located in close proximity to the Montgomery County Courthouse and SEPTA's Norristown Transportation Center, with an estimated 17,500 car traffic count.

Price History
10/30/2020 Listed $3,200,000
1/5/2021 7% - $2,995,000

General Features

Acceptable Financing Cash, Other, Private, Conventional
Accessibility None
Business Type Other
Construction Materials Brick
Cool Fuel None
Cooling None
County MONTGOMERY
Heating None
Historic Y/N No
MLS Area Norristown Boro (10613)
New Construction No
Ownership Fee Simple
Possession Immediate
Property SubType Land for Commercial Use
Property Type Commercial Sale
Property Use Investment
Real Estate Owned Y/N No
Sewer Public Sewer
Tax Annual Amount 5910.0
Tax Lot 035
Tax Year 2020
Vacation Rental Y/N No
Water Access Y/N No
Zoning TC-II

Interior Features

Central Air Y/N No
Heating Fuel None
Hot Water None

Exterior Features

Building Area Total 0.00
Fencing Y/n Yes
Lot Dimensions 94.00 x 0.00
Lot Size Acres 0.28
Lot Size Source Assessor
Lot Size Square Feet 12225.00
Navigable Water Y/N No
Type of Parking Off Site, On Street
Water Oriented Y/N No
Water Source Public
Water View Y/N No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 19401

Price
AVG $310K
$3M
Taxes
AVG $8,491
$5,910
Visits
AVG 73
19
Year Built
AVG 1904
1900
Walkscore
AVG 75
75
Data Provided by Walkscore ® not using MLS data

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