184 Courtright Street, Wilkes-Barre, PA 18702
$6,000,000
Property Type:
Commercial Sale
Square Footage:
230,000
Lot Size (sq. ft.):
2,762,575
Status:
Closed
Current Price:
$6,000,000
List Date:
7/06/2021
Last Modified:
12/11/2023
Description
230,000 square foot warehouse in Luzerne County. Property consists of 10 total tenants. Leases vary regarding CAM, utility payments, tax reimbursements, insurance requirements, and otherwise. Total Gross income of $893,026.20 for year ending 2020. Total expenses of $221,234.70 for same year. NET Operating Income of $671,791.50 for a CAP Rate of 9.82%. Included in sale was $500,000 Grant from the State of Pennsylvania which transferred with building sale, and was included in final purchase price. Please see Private Remarks for further details., Tax Information: Available, Additional Info: Multiple tax ID numbers included with sale and to be combined at closing or at later date: 50-F10-00A-017-000; 50-F10-00A-015-00; 50-C-92-R1-D2-5, 50-C-205-D1-R1-5, Ceiling Height: 31+ Y, Overhead Door Height: 19' to 20'- Y
More Information MLS# 21-2891
Contract Information
Current Price: $6,000,000
Sold Price: $6,000,000
Status: Closed
Listing Contract Date: 2021-05-14
Property Attached YN: No
Listing Agreement: Exclusive Right To Sell
Buyer Brokerage Compensation: 2.25
Buyer Brokerage Compensation Type: %
Sub Agency Compensation Type: %
Transaction Broker Compensation Type: %
Dual Or Variable Rate Commission YN: No
Owner Name: Confidential
Environmental Survey YN: No
Location, Tax, and Legal
Street Number: 184
Street Name: Courtright
Street Suffix: Street
Municipality: Plains Township
State: PA
Postal Code: 18702
County: Luzerne
High School District: Pittston Area
City Region: Jenkins TWP
Tax Annual Amount: 31975
Tax Year: 2021
Tax Assessed Value: 3492800
Parcel Number: 50-F10-00A-017-000
Additional Parcels YN: No
Zoning Description: Commercial
Directions: See listing information.
Tax Book Number: 3018/79410
General Property Information
Building Area Total: 230000
Building Area Total (Report Only): 230000
Enhanced Accessible: No
Year Built: 1970
Building Name: N/A
Parking Total: 100
Lot Size Acres: 63.42
Lot Size Dimensions: Confidential
Land Lease YN: No
Basement YN: No
Stories: 2
Auction YN: No
List Price/SqFt: 26.09
Sold Price/SqFt: 26.09
Remarks and Miscellaneous
Public Remarks: 230,000 square foot warehouse in Luzerne County. Property consists of 10 total tenants. Leases vary regarding CAM, utility payments, tax reimbursements, insurance requirements, and otherwise. Total Gross income of $893,026.20 for year ending 2020. Total expenses of $221,234.70 for same year. NET Operating Income of $671,791.50 for a CAP Rate of 9.82%. Included in sale was $500,000 Grant from the State of Pennsylvania which transferred with building sale, and was included in final purchase price. Please see Private Remarks for further details., Tax Information: Available, Additional Info: Multiple tax ID numbers included with sale and to be combined at closing or at later date: 50-F10-00A-017-000; 50-F10-00A-015-00; 50-C-92-R1-D2-5, 50-C-205-D1-R1-5, Ceiling Height: 31+ Y, Overhead Door Height: 19' to 20'- Y
Exclusions: No
Status Change Information
Major Change Timestamp: 2021-07-06T20:40:48Z
Major Change Type: Status Change
Status Change Timestamp: 2021-07-06
Purchase Contract Date: 2021-05-14
Close Date: 2021-06-29
Close Price: 6000000
Concessions: No
Building Features
Included In Contract: Land/Building
Number of Docks: 8
Warehouse SqFt: 230000
Income and Expenses
Annual Total Expense: 221234.7
Gross Income: 893026.2
Net Operating Income: 671791.5
Oil, Gas and Mineral Rights
Property Subject To Lease: Property Subject To Lease
Property Features
Building Features: Drive-In Door; Emergency Lighting; Loading Dock(s); Separate Utilities; Sprinkler System
Business Type: Warehouse
Construction Materials: Brick; Other
Cooling: None
Current Use: Warehouse
Electric: 200+ Amp Service
Exterior Features: Lighting
Flooring: Concrete
Heating: Forced Air; Natural Gas
Levels: One and One Half
Listing Terms: Cash
Lot Features: Cleared; Near Business Park; Other; See Remarks
Parking Features: Other; See Remarks
Possession: Negotiable
Road Frontage Type: City Street
Road Surface Type: Paved
Roof: Rubber; Tar/Gravel
Security Features: Fire Alarm
Sewer: Public Sewer
Water Source: Public
Showing Requirements: Call Listing Agent
Listing Office: ERA One Source Realty
Last Updated: December - 11 - 2023
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Information deemed reliable but not guaranteed.