1. Pennsylvania
2. Norristown
3. 118-120 E MAIN STREET

118-120 E MAIN STREET, Norristown, PA 19401

Property 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!

Listing Status:

Active

Date Added:

March 20, 2025 at 05:00AM

Listing Office:

Iron Valley Real Estate Doylestown : 2677035050

Listing Agent:

Stephen B Ammon : 2152560427

MLS ID:

PAMC2133248

Interior

• Flooring: HardwoodHeavy DutyLaminate PlankTile/Brick
• A/C: Central A/C
• Heating: YCentralElectric
• Disability Feature: None

Construction

Location

Lot

Utilities

Financial

This listing courtesy of Stephen B Ammon, Iron Valley Real Estate Doylestown