1st floor commercial 2nd and 3rd floor residents?

Question

Patrick Liska · Answer

Interesting, just found it on loopnet for $235,000, man does it need work and its not in the center of town. store fronts are closed up and were turned into apartments it looks like. changed my mind on that one.

Patrick Liska · Answer

They are / were getting $650 for single bedroom ? i can't even get that for a student rental next to a college in central PA. the average income in Shamokin is about 30,000 with 2 areas around 40,000 and one area below 20,000. population has dropped there in the past 10 years. why would someone sell such a cash generating property ? is the building vacant because they let leases go so they can sell the property ( doesn't make sense ) or were they not renting it ? know you said it needs a lot of work, but something seems off. however i may be interested, looks like a nice old town it is in. PM me some more info so i know exactly what i am looking at.

Dave Lin · Answer

Advertise on BP in the marketplace.  Where is this in PA?  I am sure someone on here would be interested depending on where it is.  Myself included.

Kyle Zarnoff · Answer

@Paul Do you have alot of commercial properties in PA?

Jake Hottenrott · Answer

@Paul Fagot I'd advertise both ways.  If I was local and looking for a multi-use building for a personal business and added cash flow with the apartments I'd be all over it.  If I was from a distance, I'd likely be looking at it solely as an apartment just because it's "easier" to value apartments for the normal investor vs an added commercial area in an area where I would then have to not only properly value the apartments and that market but also know the commercial market to properly value it.

What's it's highest and best use?

Also, give us some particulars of the deal? Sounds like not only myself but @Alpha Diawara had some interest.

Kyle Zarnoff · Answer

Following ^^^

Alpha Diawara · Answer

I'm not sure how to advertise maybe a good local Realtor maybe able to help.

Where is this located in Pennsylvania?