SJI Jackson Real Estate extends to qualified investors the opportunity to acquire the fee simple interest in the +/- 1.8 acre mixed use development site located at the corner of 371 E. Main Street in Norristown, Pennsylvania. The property consists currently of 19 individual lots situated in the Town Center-II zoning district which allows for a variety of commercial and residential uses. Sketch plans are currently in place that would allow for 18,966 of ground floor retail/commercial use, 82-98 surface parking spaces, between 60 to 96 residential units with a roof deck (floor count dependent). This project is situated in Norristown Borough’s Federal Qualified Opportunity Zone, allowing for beneficial tax investment incentives, and has been awarded a Redevelopment Assistance Capital Program (RACP) grant from the Commonwealth of Pennsylvania. The site is located in close proximity to the Montgomery County Courthouse and SEPTA’s Norristown Transportation Center, with an estimated 17,500 car traffic count.
| Price: | $$2,995,000 |
| Address: | 371 E Main Street |
| City: | Norristown |
| County: | Montgomery |
| State: | Pennsylvania |
| MLS: | PAMC2058878 |
| Acres: | 0.280 |
| Lot Square Feet: | 0.280 acres |
| dom: | 303 |
| lotSqft: | 12225 |
| mlsArea: | Norristown Boro (10613) |
| netSqft: | 78408 |
| taxYear: | 2023 |
| hotWater: | None |
| saleType: | Standard |
| historicYN: | no |
| possession: | Immediate |
| coolingFuel: | None |
| coolingType: | None |
| heatingFuel: | None |
| heatingType: | None |
| landUseCode: | 3321 |
| propertyUse: | Investment |
| sewerSeptic: | Public Sewer |
| waterViewYN: | no |
| businessType: | Other |
| centralAirYN: | no |
| lotSizeUnits: | Square Feet |
| municipality: | NORRISTOWN BORO |
| tidalWaterYN: | no |
| yearAssessed: | 2023 |
| listingLocale: | 200004363656 |
| lotSizeSource: | Estimated |
| showingMethod: | In-Person Only |
| typeOfParking: | Off Site, On Street |
| waterAccessYN: | no |
| buyerAgencyComp: | 2.5 |
| taxAnnualAmount: | 6192 |
| waterOrientedYN: | no |
| yearBuiltSource: | Assessor |
| navigableWaterYN: | no |
| owner1ViewedDate: | 2023-09-27T01:41:05+00:00 |
| owner2ViewedDate: | 2023-09-27T01:41:05+00:00 |
| potentialTenancy: | Multiple |
| riparianRightsYN: | no |
| taxAssessedValue: | 101800 |
| taxDataUpdatedYN: | yes |
| vacationRentalYN: | no |
| leaseConsideredYN: | no |
| lotSizeDimensions: | 94.00 x 0.00 |
| ownershipInterest: | Fee Simple |
| groundRentExistsYN: | no |
| acceptableFinancing: | Cash, Other, Private, Conventional |
| buyerAgencyCompType: | % Of Gross |
| lotDimensionsSource: | Assessor |
| buildingTotalSqftSource: | Assessor |
| listOfficeBrokerOfRecordKey: | 121135036015 |
| automaticallyUpdateTaxValuesYN: | yes |
