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Listed by Alexander Schwartz • RE/MAX Preferred - Cherry Hill
$ 925,000
Est. payment | /mo
20,000 SqFt
$ 925,000
Est. payment | /mo
20,000 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 20,000 sqft
Price per Sqft $46
MLS Listing ID PALU2002312
Originating Board BRIGHT
Year Built 1956
Annual Tax Amount $6,931
Tax Year 2024
Lot Size 0.310 Acres
Acres 0.31
Property Sub-Type Mixed Use
Property Description
For Sale is a 20,000 sq ft commercial mixed-use building in the heart of Wilkes Barre, seconds away from Wilkes University and a few blocks from Kings College. The property's present use is a vacant turn-key 12,000 sq ft bar/restaurant fully loaded with multiple bars and kitchens, 100k sound and lighting system, massive LED screen, furniture, commercial refrigerators, etc. Upstairs are two 3 bed/1 bath 2000 sq ft apartments in excellent condition. The 4k sq ft partially finished basement is perfect for storage needs. The property has a sprinkler system and central air/heat. Very versatile building in an ideal location with two of the region's major colleges within a quarter mile. Best uses would be to continue bar/restaurant or other retail operations on first floor with apartments upstairs, or a total conversion to residential to accommodate student housing. Additional floors can be added to the property, so the sky is the limit (literally). This is a great opportunity for a savvy investor/developer to capitalize on the area's student housing needs or for a bar/restaurant to take their business to the next level with income potential from the upstairs residential units, however many you choose to have.
Owner financing is a possibility for qualified buyers.
Owner financing is a possibility for qualified buyers.
Location
State PA
County Luzerne
Area Wilkes Barre City (13773)
Zoning COMMERCIAL
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Heat Source Natural Gas
Exterior
Garage Spaces 12.0
Water Access N
Accessibility None
Total Parking Spaces 12
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Wilkes-Barre Area
Others
Tax ID NO TAX RECORD
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
