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Listed by R Scott Boyer RE/MAX PREMIER, REALTORS
$ 425,000
Est. payment /mo
Active Under Contract
165 Union Street Somerset, PA 15501
5,748 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 5,748 sqft
Price per Sqft $73
MLS Listing ID 96041950
Annual Tax Amount $4,448
Lot Size 0.450 Acres
Lot Dimensions 99 x 197
Property Sub-Type Commercial
Property Description
Historic Uptown Office Investment Opportunity. Excellent opportunity to acquire a well-maintained historic brick office building in a prime downtown location just steps from the county courthouse. Originally constructed as an elegant residence in the early 1900s, this impressive 2-story building has been thoughtfully converted into professional office space while retaining its timeless architectural character. Offering approximately 5,740 square feet, the property features 17 professional offices on the main three levels, plus 3 additional offices in the basement, providing flexibility for a variety of office users. The property is fully occupied by an A-rated tenant under a lease with approximately two years remaining, generating strong contract rental income. The above-market lease provides an exceptional opportunity for investors to earn enhanced cash flow and accelerate equity growth during the remaining lease term. Parking is a rare advantage in the downtown market, with 10 on-site parking spaces plus 30 additional leased spaces on the adjoining property for employees and visitors. Whether you are expanding your investment portfolio or completing a 1031 exchange, this property offers an attractive combination of location, stable tenancy, strong income, and long-term investment potential.
Location
State PA
Area Somerset County
Zoning Commercial
Exterior
Parking Features Detached, Multiple, Off Street, Common
Garage Spaces 2.0
Garage Yes
Building
Story 3
Schools
School District Somerset Area
Others
Virtual Tour https://tour.usamls.net/165-Union-Street-Somerset-PA-15501/unbranded